140). The old method of identifying the demand and then, gathering organizational resources to fulfill is not at all applicable in the modern era of the 21st century. The information technology and internet has transformed the globe into a global village and therefore, the competition in every industry is cutthroat. The number of competitors in every field is mounting significantly (Keller pp.150). The level of competition killed those companies that attempted to identify the demand in the marketplace. In the contemporary organizational arena, the companies have to work towards fulfillment of customers’ psychological needs. The approach of celebrity endorsement has been conceptualized and developed in the light of Maslow’s theory as people like to attain attachment with famous people (McCracken pp. 315). Thusly, it can be established that psychological value is the most effective way of winning customer loyalty in the current times. But, the companies that can create some new way to fulfilling the customer’s existing needs can do well as well because the people of modern world love creativity as the living standards are improving in all parts of the world simultaneously. The customers are finding innovative companies that have the capacity to meet their real needs in a different and unique manner. Additionally, it is also important to note that the modern clientele is reverting towards quality and the concept of psychological value is deforming with the passage of time. However, the world of consumerism is ending and the people are getting more and more interested in maximizing their utility with efficiency. But, one industry remained quite profitable in all periods and it is called the entertainment commerce (Moscardo and Pearce pp. 473). The work environment is getting increasingly challenging and therefore people attempt to spend their downtime in relaxing and enjoying. The notion of theme park is developed in order to give customers an opportunity to interact with their favorite cartoon characters. The entertainment industry is known to remain blooming in every possible economic conditions because people will always keep ending up tired and exhausted at the weekends and then, they will require some place to get rid of their tiredness. Therefore, it will be very fruitful to open a theme park based on famous film characters. The suggested model of theme park will supposedly be based on Star Trek The Next Generation that is a famous sci-fi Television series of 1980s. All of the American population is believed to be a fan of scientific movies and therefore, the idea will be purchased like hot cakes in the local marketplace. The industry of theme park is relatively slow in terms of absorbing new technologies whereas, it offers the greatest level of return on assets. In addition, the humans have a tendency to pay generously against the services that have the power and ability to alleviate work stress. Furthermore, the company may have the luxury to outsource the operational level management and thusly, it will be able to make pure profit in the form of rent and royalty. The fear and threat of technological obsolesce is minimal in the featured industry. Moreover, the attractive level of financial returns will assist the company in bringing advance level technology change more rapidly and swiftly. The notion of psychological value will also be satisfied with the help of giving people a chance to interact with
Professor Name Paper Date The Marketing Plan to Initiate Theme Park Introduction The marketing has developed in the form of art and science of persuasion. The classical concept of marketing is obsolete that emphasized on fulfilling needs and wants of customers with profitability…
The report has also analyzed the external business environment of USA, which is a necessary task while developing a marketing plan. The report has also conducted SWOT analysis for identifying the strengths, weaknesses and also the external threats & opportunities.
To achieve this, the marketing department must carry out effective market researches to determine their target market and the features of the market that influence the consumption of their products. Additionally, through appropriate market researches, the commercial organization determines the appropriate ways of production thus perpetuating their profitability.
The product strategy for this organization aims to attain consumer preference for pet therapy. Since consumers cannot be coerced to reveal their preferences, it is important for the marketing team to convince consumers that their services
As such, even though this particular form of marketing would be beneficial in generating brand recognition and interest, it will ultimately be useless unless there is a working website associated with the content
ential for this to take place is greatly reduced; due in part to the fact that high initial startup costs in tandem with a heavy level of initial investment will ultimately decrease the amount of leeway that the firm might otherwise have with respect to setting a low-cost leader
and control the success of the marketing plans include checking on the increase in twitter, Facebook, and Instagram followers and the amount of interaction on these sites to gauge if they result in augmented sales. An increased following on these sites for Facebook and twitter
This is common among the high end spas and salons. While these paid adverts have proved to be effective, personal contact is more important for a business that wants to retain most of its customers and also engage in viral marketing. This is a great opportunity that
Nonetheless, we have extensive experience in manufacturing innovative, high-end, neat, and handy notebooks aimed at edging out even the mobile apps that imitate the functions of the traditional notebook.
The objective is to attract all the age groups across the board.
The Jefferson library has come up with attractive packages that cater for clients across the board considering their intellectual level. A good example is the fact that the