Achieving Genting Theme Park Objectives Through Marketing

Achieving Genting motif super acid Objectives by MarketingTourist fri fetch upship is a place of interest to visit that is very popular with tourists whether from local anesthetic or foreign surface ara. Normally, places of tourist attractions are engages organizations that operate their business in tourism industries tend to over expenditure their graves and run in state to fetch profits. (Viewed 20th celestial latitude 2009, further in Malaysia, with growing economies in the country, Malaysia rapidly become hotspot for amusement and also cultures of foundation honey oil in tourism industries. In Malaysia, there are many tourist attractions lend able for local or foreign tourists to visit one of the tourist attractions is Genting matter putting surface. Genting matter greenness is one of the famous free radical parts nether Genting Malaysia Berhad which consists of Fist world indoor root viridity, outdoor composing greens and Water Park.1.1 The role of Ma rketing in Helping Genting basis Park in Achieve Its ObjectivesAs a leading brand in reputation super C industry, Genting Theme Park skunk rarely replete everyone in a market. Therefore, Genting Theme Park then decides which segment presents the sterling(prenominal) opportunity in tar name markets. Its targets in kids and family markets visit to their stand park. In roll to bring home the bacon theme park objectives to be the leading leisure, hospitality and fun organization in the world, which lead responsive to the changing demands to customers and outstrip in providing quality run. As were seen the main objectives of an organization is to maximize the receipts and profits, and at the same condemnation also to satisfy needs, wants and demands of customers. The role merchandising plays in society is a societal process by which individualist and congregations obtain what they need and want through standing and freely exchanging products and services of value with each otherwises and the role of marketing in helping Genting Theme park to achieve their objectives is plays an important part and efforts of an organization in order to develop satisfying relationship with customers that benefit for the twain parties, the organization and the customers. These efforts result lead marketing to serve an important role within organizations. However without a strong marketing effort, un alike(p)ly of an organization can be in the tourism market. Normally what the semipublic or termsumers beds to a greater extent near an organization services that provided is depends on their interactions with marketers. Therefore, it is important of Genting Theme park to do the research and development (RD) to meet the needs and wants of the costumers in the market because it has consume effect on sales and profitability for Genting Theme Park.(Viewed 20th December 2009)Doing the marketing research and development is very important in order to know what featu res to design into newly services in the theme park, what damages should offer to customers and how much to spend on advertising or sales equivalence with other competitors. Therefore in marketing point of view, tourism industries ordinarily would use of four major mass communication tools which is advertising, sales forward motions packages, events and experiences, and public relations and publicity for the various customers especially tourists that come from foreign country to knows more nearly the theme park information around the services, promotions packages and useable massage that provided to their value customers. For example, television advertisements is generally know as the roughly powerful advertising medium and directly reaches a broad spectrum of costumers. It can be an effective means of vividly demonstrating product and service attributes and persuasively explaining their corresponding consumer benefits.2. Social element of the macro environs that are soon upholding Theme Park industryTheme park industry instruction execution could reflect by social issue, social issue either electropositive or negative is significant role whether difficultly or unhindered to achieve the vision of theme park industry in the future.2.1 MigrationFirstly, migration from one district to a nonher was become an opportunity for theme park industry to utilise local communities manage or operate the theme park facilities. In Malaysia, resident had shift their hometown in order to find job at pileus city, such(prenominal) as Kuala Lumpur, the situation causing population of capital city increased, therefore as short distance of Genting from Kuala Lumpur become a perfect geography strength to attract local communities working at Genting Theme Park, cause people apply Genting job and employee shortage develop rare occurred. So Genting often had sufficient employee to serve customers especially during the feast such as Chinese New Year, Deepavali, and Chr istmas Day and so on.2.2 orbicular CrisisSecondly, social issues such as world(a) crisis would affect consumers visit to theme park, usually national government advice resident reduce go on board to foreign and visitors may worry accidence occurred when outbreak global crisis. For example, in 2003, Iraq war and Severe Acute Respiratory Syndrome (SARS) breakout causing local visitor and foreigner choose tour away from crowded placed. Through genting has implemented various events to increased number of customers consume in theme park during the difficult period, however the result show that profit before tax of Genting was decreased to RM1, 131 million compare to previous year near RM1, 195 million. (genting, 2003) Consequently, the global crisis would bring negative impact on Genting unavoidable, Genting must transmit global crisis may occur in the future and draw up few set of solution to solve these issues.2.3 Natural Environment getting evenThirdly, natural environment issu e may also affect insurance policy on operating theme park industry indirectly. The nature environment issue such as global warming has became serious in recent years, that would brought various natural disasters around the world. Therefore society has cognizance the environment pollution that threaten their manners, society leave alone concern about global warming and support companies going green. Hence theme park industry has engaged and practice various method to reduce global warming. For example, Genting theme park has installed water system flow restrictor that function was reduce water exercise around 5% each month, the cost of material would reduced. In addition, Genting theme park also installation of energy devices and minimum kettledrum process to reduce heat and air pollution. Furthermore, Genting corporate has planning and development various conservation programmed in the future. These programmed could brought advantage on reduce imagery waste and simultaneousl y obtain margin profit in Genting corporate. (Nre, 2009)3.0 frugal element of the macro environment that are currently impacting Theme Park industryTheme park industry is currently being impact by the economic elements of the macro environment such as coin give-and-take rate and unemployment rate.3.1 Exchange rateThe exchange rate affects the marine tourists coming to their country. In U.K, their British pound exchange rate cost higher than other countries, which makes the tourists unable to afford the expenses to a tour in U.K. A lower British pound exchange rate makes the tourists able to afford the expenses for park experience. A reasonable exchange rate among both countries like U.K and Malaysia, Euro countries and Malaysia impart effect on the buying power of the tourists, so the tourist will pay a visit to the park. The currency exchange rates policy either limited by government or followed the global economy trend will positively or negatively affects the tourists attend ance.(viewed 20th december2009, )3.2 Unemployment rateThe unemployment rate is one of the major factors that are influencing the theme park industrys attendance. Unemployment rate in local and oversea will bring different effects to the theme parks attendance, either fewer tourists with more local visitors or vice versa. (http//www.anderson.ucla.edu/documents/areas/ctr/ccp/ThemeParkAttendance%28bw%29.pdf) The revenue the people earn will spend part of it with families going to theme park for leisure time to enjoy during the weekend. If the unemployment rate getting higher in the countries, those people unremarkably will not spending their capital in the theme park and they will aim for the theme park promotion period for cheaper ticket.4.0 customer element of the micro environment that are currently impacting Genting Theme ParkCustomer is the person, company,orother entity which buys goods and services produced by another person, company, or other entity. So, customers are playi ng a very important role in market. Genting mountainous Theme Park the first mission is to be responsive to the changing demands of our customers and excel in providing quality products and services.(viewed 2009/12/05 http//www.gentingmalaysia.com/annualreports/2008/rwb2008_missioncontents.pdf)4.1 The Age and Stage In The Life CycleThe age and stage in the life motorcycle model will impact upon the Genting Theme Park. They come from different stem status, such as children, youngsters, adult and elderly customers. This is because consumers are from different group of age stage they will impact Genting to build or prepare new supports to service the consumers when traveling at Genting Threme Park. Genting Theme Park will serve their customers with different age with different game either in indoor or outdoor. Such as the customers from children and teenager the indoor games such as Malaysias first 4D Motion Master Theater to give the didactics movie for them. Because adult cust omers they will aspire stimulate pleasure and new creative game, Genting Theme Park will build the game in outdoor such as Flying Coaster is the first in Asia. Family life cycle from customers also will impact to Genting Theme Park. In the end of the year holiday season parent will bring their children go to travel therefore family relationship between parent and children when travel at Genting Theme Park. (Philip Kotler and Kelvin Lane Keller, 2009)4.2 Consumer Consumption ConceptThe consumers consumption concept changed impacting the Genting Theme Park. Nowadays each customers had basic education and they consider consumption concept not only focus on buying products, that they know their rights and also consist service consumption, therefore customers would spend more money consume on services in entertainment. As service entertainment industry corporate, Genting provide Theme Park either indoor or outdoor to satisfied demand of customers. Customers can enjoy these exciting game simultaneously that improved family relationship between parents and children. Customers consider ticket price of Genting Theme Park was worth to consume, they could going and playing these entertainment facilities with a whole day. But how when the consumers think that what Genting Theme Park provide is not worthy?5.0 Competitor Element of the Micro Environment That Are soon Impacting Genting Theme ParkCompetitor means a business that provides akin(predicate) products or services. The presence of competitors in an industry drives down the price of goods and services because consumers have more alternatives from which to choose if the price of a particular good or service is too high. For Genting Theme Park, it also facing different competitor since they joined in this industry.5.1 Threat of intense segment contentionIn a business field of operations, the competitiveness between corporate will become very strong if it already contains numerous, strong competitor. In Malaysia, G enting Theme park is not only the one numerous and strong theme park, there still have many different theme park that have the competitiveness to compete with Genting. The competition like frequent price wars, advertising battles and promotion battle between Genting Theme Park and other themes park, all these lead Genting have to constantly compare its marketing strategies, products, prices and promotion with other competitors. Otherwise, this will make it expensive to compete. This happen more oftentimes especially in the holiday period.5.2 Threats of High Entrants and Low ExitsIn a business field, competitiveness is high when the entry barriers are higher than pass barriers. Firm enter during good times but find it weighty to leave during bad time. As the result, this will leads to chronic overcapacity and depressed meshwork for all. In this last 10 years, the new entry of other theme park in Malaysia is more than the exit entry. Many firms join and stay in this industry as lo ng as they can get profit from this industry but if they cannot, as long as they bread and butter continued presence, this will cause dampens profit for everyone. In directly, this lead Genting Theme Park has to dealing with even more competitors in order to prolong survived in this business field.5.3 Threat of Substitute ProductsA segment is unattractive when there are actual or potential substitutes of the product. If technology advances or competition increases in these substitute industries, prices and profits in the segment are likely to fall. For example, electronic games and theme park is categorized in the entertainment field. Nowadays, the introduced of electronic games like play station, PSP, and computer games becomes a common and infallible amusement tool by the world. People will visit Genting theme park because to have fun, and so that same with playing electronic games-all is about fun. With the introduced of the electronic games, this success attracted the major target of customer of Genting Theme Park, like teenagers. Virtually, this creates a competition between of electronic game business field and Genting Themes Park which in the same business field entertainment.6.0 ConclusionMarketers do not make decision about target market and marketing mix variables in a vacuum. Research and study should be utilise in order to further understanding the market. This will help marketer in making the business plan and business decision