Introduction
A theme Park is a unique place that offers entertainment, food, beverages and a serene environment that is unique on its own and cannot be found anywhere else outside its gate. NZ Theme Park, as mentioned in the concept, helps to focus on the unique design and development for the industry, and creates a pleasing environment suitable for a family. It offers a broad range of activities such as water rides and roller coaster rides among other important events. Other significant of theme Parks include Ocean Park, Hong Kong SAR and Walt Disney. The concept is similar to an amusement Park only that it differs on the ground that various activities offer by NZ theme Park are focused on a particular theme which offers its visitors a unique experience as chosen by the Park (Dickson et al., 2010).
Social/cultural PEST analysis for NZ Theme Park Industry
There are various kinds of theme Parks across the globe and are based on different themes, which are based on the cultural and social values of the esteemed customers. NZ Theme Park industry plays a significant contribution to the development of tourism in a country, which includes local and international. The social factors influencing the performance of the industry include the type of audience that it targets to attract. A Park that aims to attract more teenagers will tend to focus on a theme that is adventurous in that there is a lot of excitement, frightening experience, mysterious to keep the visitors anxious to know more and thrill rides. Therefore, the demographic features of the target consumers have an influence on the theme of a Park, an aspect that makes consideration of cultural diversity as critical to the development NZ Theme Park industry (Clavé, 2007).
The demographic features include the age of the target consumers, gender, the income level of the people around the area and even educational level of the population. Such kind of information is important to managers of NZ theme Park industry in designing suitable facilities and services for broad range of visitors from various parts of the globe. This initiative plays as an opportunity to expand its services with time. However, it is imperative to appreciate that most theme Parks across the world focus on creating a thrilling experience to young generation; hence, to attract more people, it is important to include more activities that will accommodate the adults (Clavé, 2007).
Bargaining Power of Suppliers in TZ Theme Park industry
The TZ Theme Park industry is characterized by a very high level of rivalry, a situation that is considered as a threat by the management, although it makes the industry focus on offering unique services. Competition makes every Park find practical strategies that will ensure it remains relevant in the market. This involvement entails every strategy to attract more visitors and includes the introduction of more engaging activities to the Park as much as possible. An organization that works with the motivation of creating more impression helps develop a high level of bargaining power of the suppliers.
An industry with strong barging power is characterized high priced products, which might be of low quality. This situation has adverse effects on buyers, as they have to pay a lot. However, in the NZ Park industry, the number of suppliers is large, creating competition between them. Some global providers include Premier Rides, Arrow, Vekoma and Mabilard among others (Lillestol et al., 2015). The Park industry firms are a significant customer for suppliers, and they come up with new inventions every year, an aspect that enhances the recreational facilities offered by each organization. The products supplied by suppliers are critical to clients, a feature that attracts many visitors to the Park. Although the Park industry has its preferred suppliers for the activities, it sometimes gets these products from other suppliers, creating switching costs. The products that different suppliers offer the Park industry are widely acceptable, and due to a large number of suppliers, suppliers pose a little threat of forward integration (Research & Markets, 2012).
References
Clavé, S. A. (2007). The Global Theme Park Industry. Wallingford, UK: CABI.
Dickson, D., Okumus, F., & Milman, A. (2010). (2010). The contribution of theme Parks and attractions to the social and economic sustainability of destinations. Worldwide Hospitality and Tourism Themes, 2(3), 338–345.
Lillestol, T., Timothy, D. J., & Goodman, R. (2015). Competitive strategies in the US theme Park industry: A popular media perspective. International Journal of Culture, Tourism and Hospitality Research, 9(3), 225–240.
Research & Markets (2012). Research and Markets: Entertainment Industry in China - Porter's Five Forces Strategy Analysis.
