The Market Theme Park is a large entertainment area and has selection complexes with theme in each of its sophisticated. Theme Park is a global Industry operating in The united states, Europe and Asia with attendance from local area and from across the world. Theme park become necessity to get the people to get entertainment and leisure after active working day, particularly for family. The key reason why that people arrive to amusement park is the trip that please them to visit again. Demands Analysis.
The needs of this entertainment industry is definitely increasing year after year as the attendance of amusement recreation area on Cultivated fields is increasing at your five. 113 thousands of in 1993, that reveal that there is development in the Market. (table 4). By table almost 8. The need of the theme park intended for the to the south Korean buyer place a level of 22%, it displays the need Korean people improve 5 . 5 days each week, that suggest that they are incredibly busy, and seems that they may have no time to get going to the theme park, but in the other hand whenever we provide a very good theme park we could deliver the require of leisure for them following your busy job.
In the globally, this organization is already older, so we need to arrive which has a concept that distinct each of our theme park while using other theme park, therefore we can attract global market to our theme park. The influencer of the needs: 2. Family: Spouse, Children, Parents, media promotion * One: Friends, Colleague, social account, media promotion 5 CAUSES ANALYSIS Competitive Rivalry within just Theme Park Sector: HIGH Community Rivalry You will find 6 amusement park industry in Korea and Lotte world and Seoul Area are the nearest competitor.
Lotte world is usually stated themselves as the largest Indoor Theme Park in the world and they are located in downtown, which can be one of the important success in the business with the accessibility. Seoul Property is the nearest competitor with farmland while using similarity of the place, that provide fresh air and easy access. Intercontinental Rivalry The worldwide theme park such as Walt Disney in North America, Europe, and Asia, with global connection all over the world. ENTRANCE: HIGH High investment in Land, Building and construction services, Hardware supplier for the ride, and Software company.
The risk of protection is excessive, required completely insurance coverage The know how of the industry is not easy, The benchmark is Walt Disney, to supply world class themepark haave to join venture with Disney, Yet Disney certainly not interested in Korea. SUBSTITUE: EXCESSIVE Free entertainment places are available, such as seashore, garden, nearby mall etc Viewing Movie in theatre, or just stay at home as a result of heavy targeted traffic. SUPPLIER ELECTRICITY: LOW Technology is one of the main issue in this business, especially machinery and software.
There are around 12 players that can supply the equipment, so we can get a good cost for equipment. The large turnover mainly because woman go wrong after relationship become an edge because the fresh employee give fresh new idea for the theme park. CUSTOMERS POWERS: HIGH Theme Park is definitely depend on the qapacity of the attendance. They can easily change to another recreation area. Pricing competitive with another park SWOT ANALYSIS DURABILITY * Farmland is the 1st amusement area in Korea * Curently have a brand Photo.
* Have large mother Company Korean that run in sixty five countries * Samsung Companies can possess synergy with theme park given that they have 4 core organization in consumer electronics, machinery, substance and Finance insurance WEAKNESS * Korean language Climate with Winter coming from December to Mid drive, and hefty shower in June and July, that gives potential time for the market in June to early Sept, which is just 4 a few months in a year. 5. Management has to learn the organization because Walt Disney not really interested in partnership with The samsung company Korea. 2. Limited existing parking space to cover foreseeable future extension.
2. The traditional behavior not to smile to new person may affect the need of service focused people. OPTION * Economic Growth in Korea is definitely high, per-capita GNP gone up from US$4210 in 1989 to US$7513 in 93 (56%) (exhibit2) * Over 10 millions Korean Living in Seoul 5. Attendance will be growing every year * With a an unique concept can capture worldwide market. 5. Government ideas to built subway approximately yongin provides convenience and minimize the large traffic problem THREAT 2. Strict Authorities Regulation of the Land.
5. The protest from the farmer that cultivated fields expansion may cause potential water damage that will harm their plants * The National Getaway is only 4-5 days in a year * The significant habit can be five and a half day within a week RECCOMENDATION Segmentation pertaining to theme Park for all of the Family member, Targeting on all ages. Positioning in the Theme Park offer the high end of Theme Park technology with the environmental friendly encircling. Changing the Name is essential, EVERLAND seems suitable towards the new quest. Make a synergy between other Korean business to create worldwide link with the amusement park.