There are various ways in which the LHRC can promote thetheme park prior to its opening.
But the most critical factors to be consideredin order to ensure the success of the venture are firstly, the creation of astrong brand image of the theme park, offering unlimited entertainment for theentire family, and secondly, reaching out to the targeted audience and build abrand loyalty to ensure continual success in the future. 5. ConclusionThere will be a soft opening of the theme park and guided tours will begiven to select targeted market segments proposed to capitalise on word ofmouth marketing.
This will give visitors a sneak peek into the full blownexperience upon the opening of the theme park. LHRC will ensure that the packages are offered specifically designed to meetthe needs of the visitors and they are encouraged to bring friends and familyby being offered additional discounts. Newpapers, Television advertisements andSocial media will be used to promote the theme park 6 months prior to itsopening, by keeping the prospective visitors intrigued and excited.4.1.4 PromotionThe location of the entertainmentsite will be easily accessible connected to the highway, travel distance keptminimal and traffic congestions under control. Other factors like weather,environmental conditions etc will be taken into consideration as well and visitorswill be advised timely on the website. 4.
1.3 Place The proposed pricing for thesegments is 1) pricing for couples at £50 for a day pass, 2) Unlimited ridesfor a family with children younger than 12 years, priced separately for adultsand children at £35 per day for adult and £30 per day for children, 3) price of kiddie meals and adult meals canbe availed by purchasing food vouchers online at 20% discount or can bepurchased on site at 0% discount, 4) hotel accommodations will be offered at25% discount on weekdays and at a special family package on weekends. Theprices mentioned are estimated prices only, based on travel blogs and guide(Gill and Watts, 2012).In the UK, families with childrenaged less than 12 have generally less disposable income for holidays, thereforethat segment will be offered a lucrative package with discounts particularly forfamilies with younger children. 4.1.2 PriceThe marketing strategy willenable the theme park to focus on the market by offering an unparalleledquality of service and product, and an experience to cherish forever.
Thepackages will be in accordance with the two market segments. The entireexperience will be marketed as safe, enjoyable and hassle free for the entirefamily. This will encourage the visitors to keep coming back for more in thefuture thus guaranteeing ongoing revenues. 4.1.1 Product Target Market No.
New Market Segment Product Price Promotion 1 Visitors With Children < 12 years An experience to remember for the entire family! Make memories that Last….. Become part of our family and we give you priority! Because Family matters…. All-inclusive flexi family package.
Memories Album for the family at the end of the trip. 2 Visitors Without Children Flexible Group Package Flexible Couple’s Package Photo Contest The marketing strategy outlinedabove suggests that visitors to the entertainment site belong to differentsegments of the market. Behavioural, proficiency, demographics andpsychographic factors have been considered in devising the strategy. Theclassification has assigned to visitors with children and without children.Furthermore, the marketing strategy can be analysed by the following marketingmix, taking into consideration the four P’s of marketing in the followingproposal for the two market segments. 4.1Marketing Mix – Four P’s of Marketing for Two New Target MarketsWe have already identified thetwo market segments mentioned afore as Visitors with Children < 12 andVisitors without Children. The conclusion that can be drawnfrom the findings and analysis done above is that LHRC needs to devise amarketing mix to target its potential customers 6 months prior to its expectedinauguration date.
4. Marketing Mix The most important step inmarketing is how the product is positioned as it is the key influence on thetarget audience. This will be based on the needs of the consumers, the existingcompetition in the market and the channels available for marketing (Richards,n.d.). 3.3 Product Positioning for Target Market 1and Target Market 2Therefore we can conclude that bytargeting the second market, the sales can be increased if within the visitors,the classification of age and income groups can be made.The second target market,although smaller in comparison to the first, is the visitors without children.
These are young couples, teenagers as well as elderly couples who will visitthe park in groups for short breaks. These are the visitors with a higherspending budget as they are working couples who can afford to spend more on therides and activities. 3.2.2 Target Market 2: Visitors withoutChildren The children need to be targetedas a primary market as once interest is instigated in them, the entire familycan be lured to visit the theme park. This direct marketing will have an effectas indirect marketing as well. By targeting children aged below 12, familieswill be coaxed to take short vacations in the theme park, which will generaterevenues.Majority of the visitors to themeparks are young and middle aged couples with children less than 12 years of age,therefore this segment needs to be exploited for growth.
Also, couples withyounger children are cost conscious and avoid spending large sums of money onexpensive holidays, therefore a local destination for family entertainment isideal for them. 3.2.1 Target Market 1: Visitors withChildren < 12 Years§ Visitors without Children§ Visitors with Children < 12 Years We propose twotarget market segmented as follows. 3.2 Market TargetingAccording to the statisticsavailable for 2016, Legoland Windsor, UK experienced a total number of 2.
18million visitors while Thorpe Park in Chertsey, UK had 1.8 million visitors.From this we can see that the scope of the theme parks is big and has a highexpected potential. From the statistics it is also evident that the number ofvisitors has decreased due to tumultuous and unprecedented events in the UK, thereforenew strategies to increase the target market in order to sustain and increasethe existing revenues need to be deployed ahead of the opening of the theme park.This can be done by a strong marketing plan.LRHC can use the marketing toolsof segmentation to its advantage by dividing the market in several waysincluding demographic, geographic, behavioural and psychographic (Rodrigo,2012).However, we will use the demographic segmentation in our plan.
3.1 Market SegmentationIn the first half of this report,we focussed on the macro environmental analysis using PESTEL. We can concludefrom the first part that the industry needs to be revitalised as it iscurrently facing challenges due to increasing competition in the Europe andNorth America. We will address this issue by proposing new target markets anddevelop a marketing plan based on it.3. Identification of New Target MarketsIndoor theme parks, much smallercomparatively, have been built in areas with high levels of family densities.These theme parks offer cheaper and readily affordable entertainment options tofamilies and are a major hit amongst them.
2.4 TechnologicalAccording to surveys and reports,there is a shortage of theme parks and family entertainment sites in UK, andpeople with families especially younger kids travel to Paris, for the EuroDisney experience. This option is not very affordable considering the cost offlights and accommodation. 2.
3 SocialUK tourism is slated for anexpected growth in the next ten years, increasing to 12.4% of GDP by 2025, andwill create jobs resulting in 13.2% of UK employment coming from the tourismindustry. The number of inbound visitors is expected to increase by 6.1%annually whereas the resident tourists will result in increase of 3% annualgrowth. 2.2 EconomicalThe biggest impact on tourismsector in the last year has been that of the terrorist attacks in UK and theunrest caused consequently.
Families with children prefer to travel to safedestinations and avoid countries which are unsafe in any way. 2.1 PoliticalWe will use the PEST analysis asa tool to understand the factors that will have an impact on the demand for thenew theme park. PEST stands for political, economic, social and technologicalfactors (R, Collins, 2010). 2. PEST AnalysisThe creation of this theme parkwith its numerous attractions is very important for the UK tourism as currentlyUK does not have a significant number of such entertainment attractions ascompared to other countries. As the UK tourism industry has been affected dueto the instability which can be felt as a result of the BREXIT, therefore theobjective of this report is to identify marketing strategies for this themepark. The site is being planned in sucha way that there will be adequate transportation connecting it to the highway,public footpaths and cycle routes, also accessibility by boats using theexisting jetty on the river.
This site will not only create entertainment,furthermore it will create an estimated 30,000 skilled and un-skilled jobs, andwork opportunities for the local population. This in turn will have a positiveimpact on the economic activity levels of the local area.The London Resort CompanyHoldings (LRHC) has planned a site for a theme park in Dartford, Kent. Thispark will have unparalleled attractions and experiences, along with themedrides, day and night time shows and parades. There will be numerous hotels withevent hosting facilities, and indoor entertainment such as cinemas andnightclubs. Introduction