Business Report
1.1 company’s profileAdventure Park is a theme park and water park situated in Wallington, Australia near Geelong. The park provides much attraction that include water playgrounds and water slides. It was opened in the year 2006 and since then has stood out as the best and exciting theme park, Adventure Park, situated just 10minutes from Geelong. It offers exciting attractions, perfect for the whole family (Brown, 1992).1.2 Aims and objectives of Adventure Park.
- Provide ample and secure parking
- Easy access
- Provide popular and wide-ranging entertainments activity
- Creating a profitable entertainment firm and at the same ensure a conducive atmosphere for fun and excitement for the entire family
Apart from this, Adventure Park aims to encourage physical, social and character development among the young and also families.
- Current problems of adventure water park and possible solution
2.1 Range of services
Adventure Water Park provides a range of exciting entertainment which are categorized as accommodation, public transport, guest services, private show cabana hire and any other outdoor events.
2.2 Market analysisIrrespective of rapid initial growth rapid growth while undergoing the growth stage of business life cycle, stronger competition among many other challenges has been experienced resulting in a threat to be largest business’s market share. The major market for Adventure Water Park is near urban neighborhoods made up of middle to upper income families (Brown, 1992). These families look for more engaging activities for their children that are more than common amenities available. The families, therefore, require entertainment activities whose main aim is to arouse children so that they can go beyond being entertained or being taught to learning through play. This, therefore, means an expanded market, but one that require creativity and diversity in approaching the provision of the services (Hay et al., 1957).The market is also characterized with tough completion since customer needs changes rapidly (Lewis et al., 1978). Adventure Water Park, therefore, needs to take in account the current market diversity and ensure creativity in service this water the current market situation presents and demands. 2.3 CompetitorsAdventure Water Park faces competition from various businesses which include Dream world theme Park, Whitewater World water Park, Village roadshow theme park and Sydney Attractions group Ltd among others.
2.4 Concept Generation, Product/Service Range Change2.4.1 New Service/Product ConceptTo help curb greater market competition, Adventure Water Park should embrace diversity in its services (Kuiper, 2007). This will require an introduction of the new product, particularly massage therapy. Massage therapy involves scientific manipulation of body tissue to help body functioning. Introducing massage therapy will attract customers who are strictly interested in this service and provide spill-over effect on other services, for example, if they are adult, they might come with their children to enjoy other services available for the children.2.4.2 Marketing Strategy ChangeApart from introducing new products, Adventure Water Park can make marketing strategy change. The strategy change can include, building a relationship-oriented service provision, this will ensure that Adventure Water Parks build a long-term relationship with its clients, no just occasional visit. Enhance customer relation and let them become dependent on the firm’s services (Brown, 1992).Another strategy is to emphasize customer service, this will help the firm differentiate itself fromother firms and establish themselves as a clear and viable alternative in the industry (Brown, 1992). To further boost their sale, Adventure Water Park focus on target market, for example, targeting young families who want go out to just relax, have fun and socialize.2.4.3 Consumer Behavior Analysis And Defining Target GroupCustomers in this industry seeks new and challenging experience every time they settle for consumption. This means they will in many cases move from one park to another for search of the most exciting and challenging activity (Hay et al., 1957). This, therefore, makes it important to define clearly target group. The most suitable target group in this industry is young members of the society. Most of them are not in working and this, therefore, makes it important to tap them through their parents.
2.5 Launch Management System
2.5.1 SWOT Analysis
2.5.2 Pricing policy Pricing policy for a new product, massage therapy, will be based on different packages that the customer requires (Kuiper, 2007). For pricing, these packages can be grouped as Swedish massagetherapy, Aromatherapy massage, deep tissue massage, Shiatsu, Thai massage among many other packages, then prices charged taking into account cost of providing each and the firm’s profit margin.2.5.3 RecommendationAdventure Water Park should diversify and embark on customer centered service delivery approach in order to increase their sales (Hay et al., 1957).3. Conclusion.The industry is a more demanding one and requires creativity and diversity in service delivery and Adventure Water Park has the potential of being more profitable when it follow the same path (Brown, 1973).
References.
Brown, L. (1992).writing business proposals and reports strategies for success.LosAltos,Calif.: Crisp publications.
Hay, R.D., &Lesikar, R. V. (1957). Business report writing,. Englewood Cliffs,N.J.: Prentice-Hall.
Brown, L. (1973). Effective business report writing(3rded). Englewood Cliffs, N.J.: Prentice-Hall.
Kuiper, S. (2007). Contemporary business report writing(3rded.). Mason, OH: Thomson South-western.
Lewis, P V., & Baker, W.H. (1978). Business report writing. Columbus, Ohio: Grid, inc..
