According to Paswam (2011) Market Strategy is related to the delivery of the right product, to the right people, at the right time in order to win customers loyalty. Marketing Strategy includes three main segments Market Segmentation, Targeting and Positioning. Blythe& Zimmerman (2005) explains that STP is the first step in every marketing strategy.
According to Disney Report (2008) it has segmented the market on the basis of age. Disney has divided its visitors on the basis of age categories for example Disney has separate promotional and marketing strategies for children aged 12 and under, teenagers and adults. Segmenting on the basis of age has enable Disney to focus its strategy better on each category of youth.
The main reason behind low turnover relating to the theme parks industry is that many of the theme park chains has not segmented their market on the basis of age and their main focus are children under 12 years age thus ignoring the needs of the teenagers and adults. This is the main reason teenagers do not feel as exited to visit the theme parks as the children because they find these theme parks as lacking taste and fun. On the other hand Disney segmentation help it to include everything in its theme parks to attract its visitors falling in children, teenagers and adults category. That’s why Disney Theme parks and resorts are more famous among the youth of all ages in contrast to other theme park companies.
Weinstein (2004) explains that market targeting is the strategy used by the company to sell its products and services to the consumers. In other words it includes how the company will target potential consumers in the segment selected by the company. Disney has developed the strategy of focusing on the care and concerns of parents of the children aged 12 and under because it is the parents who take all the decisions regarding young children. In case of teenagers Disney focuses on fun stuff to be provided to these energetic teenagers. Disney approach to adults is more of a mature one, making it appropriate to make their visit to the Disney theme parks worth visiting.
Disney has positioned its brand as the company which turns the world of Fantasy in Reality. The design of major theme parks is based on famous series of movies making the Disney Theme parks a real world of fantasy. It has helped the company in attracting huge numbers of youth to its theme parks as children always love to see and dream to have a place which is full of castles, Prince and Princes and their favourite movie characters. Thus Disney Theme park is perceived by children as fantasy dream come true.
According to Lamb et al. (2011) product/ market development is the identification of the opportunity to develop a new product or provision of new service to the customers, in order to increase the market share of the company. Disney has the strategy of introducing and expanding its existing theme parks in order to continuously provide its customers with something new. The recent investment in the Asian region and establishment of theme parks in Japan, South Korea and China has paid off well as it was based on a detailed research regarding the attractiveness of these markets and the expectation of the presence of a large number of potentials consumers in these countries.
Disney has the top spot in the theme parks and resorts industry thanks to its unmatched quality and high standard guidelines regarding the development of its theme parks. Disney has always remained true to its customers which has helped the company in retaining its customers and wining their loyalty.
Lamb, C. W.; Hair, J.F. & McDaniel, C. (2011) Essentials of Marketing : Cengage Learning, pp: 44.
Disney Official website Report, (2008). Children and Family Marketing Practices: Online at isney.go.com/crreport/childrenandfamily/partneringwithparents/marketingpractices.html [accessed on 25-12-2018].
Weinstein, A. (2004). Handbook of market segmentation: strategic targeting for business and technology firms3rd edition: Haworth Press, pp: 135-155
Paswan, A. K.; Blankson, C. and Guzman, F. (2011). Relationalism in marketing channels and marketing strategy:European Journal of Marketing, ISSN 0309-0566, 2011, Volume 45, Issue 3, pp. 311 – 333.