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
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