Walt Disney Able To Sell An American Product To Global Consumers
Walt Disney was one person who was greatly impacted by the free enterprise system, and who greatly impacted the buisness world. Ho was not only the pioneer of animation, but he has built two multi-million dollar theme parks, that many people today enjoy and come from all over the world to see. Most people think that you have to be rich and have lots of money to become an entrepenur, but many people start off with nothing at all, that was the case with Walt Disney. He started off with nothing, living out of his office and eating cold beans before he became the successful entrepeneur he is today. "if you can dream it, you can do it," was a quote Walter lived by an it must have been a big help in getting him where he needed to be, but he didn't
In this highly competitive world, money is one of the most significant factors for people to survive because people use money to satisfy their desires such as clothes, food, and medicines. A company will gain profit from the amount of money that people used, but only profit cannot make company to be sustainable. Hence, every corporation should be concerned about the triple bottom lines which can lead company to be sustainable. The Triple Bottom line or TBL was created by the founder of British consultancy called sustainability, John Elkington since 1994 (economist, 2009). The triple bottom line is separately in three categories, including profit, planet, and people.
families around the globe to the a large number of Disney VoluntEARS hours performed but their cast individuals to the neighbourhood economies they bolster through employment creation, charge income and local suppliers and contractors. Community have 4 parts which are Charitable Giving, VoluntEARS, sharing their expertise and economic Impact. • Charitable Giving The first is Charitable Giving. Walt Disney’s collaborate with local, national and worldwide non-benefit organizations to support programs that promote empathy, protection, creativity and healthy living while they tending to the extraordinary needs in the communities that we as a whole call home.
EXECUTIVE SUMMARY This report presents an analysis of The Walt Disney Company. It is one of the global’s leading manufacturers and providers of entertainment. The company manages through its five business segments which includes parks and resorts, media networks, studio entertainment, consumer products and interactive. The Disney’s objective is to be one of the world 's leading manufactures and companies of entertainment and information, by using its portfolio of brands to differentiate its content, services and consumer products.
Walt Disney had an impact on the world through media, science, and animation. When most people think of Walt Disney, they think of the creator of Mickey Mouse and Disneyland. Walt Disney’s impact went way beyond just cartoons and theme parks. Walt Disney was born on December 5, 1901 in Chicago, Illinois. His parents were Elias and Flora Disney.
Acquiring firms like Pixar animation and Marvel have been proved to be very successful. Similarly the acquisitions of Lucasfilms have given Disney the rights to previous works including Star Wars. • Localization of Products: Besides parks and Resorts Disney have started localizing and adapting its product according to the customer’s taste. This is rarely initiated by the movie studio itself and is something that few other studios are doing (Jurevicius,2014) Weakness: • Main target is still children: children are an unstable audience.
Cultures are spread through globalisation through knowledge, ideas, clothing, beliefs, values, languages, food and movies. When contact occurs between cultures, all ideas are spread and transferred which has become easier nowadays than in the past because fewer people were to able to travel and experience the rest of the world. Disney, Disney princesses especially, has had a big impact on the spread of cultures from Saudi Arabia 's Aladdin to Germany 's Snow White and the Seven Dwarves to China 's Mulan. Not only has Disney spread the culture of beliefs and values, most children from all around the world who has watched a Disney princess original would be able to identify the traditional dresses such as the Qipao from China in Mulan. Their movies have also given children a way to apprehend various styles of cultures.
Market Structure - Oligopoly Oligopoly is a market structure whereby a few number of firms owns a lion’s share in the market. This market structure is similar to monopoly, except that instead of one firm, two or more firms have control in the market. In an oligopoly, there are no upper limits to the number of firms, but the number must be nadir enough that the operations of one firm remarkably influence and affects the others (Investopedia, 2003). The Walt Disney Company is categorized under an oligopoly market structure.
The Walt Disney company does not only have an immense amount of economic power on the American entertainment industry and popular culture, but they have acquired influence across the world. The company has recorded that one quarter of the 45 billion dollars Disney makes annually comes for the international market (Hongmei). It can be said that Disney is one of the best-known companies or brands in the worlds and covers a wide range of markets from films to television programs, to merchandise and publishing not to mention the theme parks. However, the inspiration to expand globally does not completely rest on income and to promote capitalism within the company. In some circumstances the marketing decision is more political than economical.
Disney has been a worldwide phenomenon in terms of creating entertainment for kids and even older adults. Disney has been able to expand and grow its franchises and create new franchises that are capable of become world-wide hits. Its due to its ability to change and manipulate its marketing strategies that allow Disney to appeal to its market. Another main marketing strategy that has allowed Disney to dominate all of its competition has recently been by cross platforming and taking over different companies and implementing them so that they can increase profits.
In the past four years they have been concentrating on geographic, demographic, and psychographic segmentation to locate their target market. How did they use geographic segmentation? By looking in to region of a country or the world, the market size which is, market density, or climate; that’s how they decided on the locations of Disney's theme parks such as Disneyland and Disney World which are strategically located in the world's most visited places such as, Europe, Japan, India, and of course the United States. On the other hand, they used demographic segmentation by aiming on age, gender, income, ethnic background, and family life cycle; by focusing on that it helped them determine where to place their chain stores called the Disney Store, where to distribute their movies, and even determines what kind of movie they should create next. Whereas for the psychographic segmentation, it is used based on personality, motives, lifestyles and geodemographic; through that this is will help Disney to determine who is going to buy more of their
Apply the concept of VRIN to analyse its value-creating ability. All resources that an organization has may not have strategic relevance. Only certain resources are capable of being an input to a value creating strategy which put the organization in a position of competitive advantage. Great brand identity gives Disney's parks an edge over its competitors. Applying the concept of VRIN (valuable, rare, inimitable, non-substitutable) on Disneyland theme parks- • Valuable-
By keeping the parks American-Disney themed, people from other cultures such as China, Europe, and Japan could have an American experience in their own region without the costs of long distance travel. Additionally, in some areas there are state regulations that prohibited or limited travel abroad to local residents. In this way, Disney was able to offer a uniquely American experience to many who otherwise would not have those opportunities. When Disney crossed international borders, they quickly established local and regional business relationships. Through these relationships, materials and manufacturing became much cheaper and gave Disney a competitive edge in their large merchandising sector.
An interesting fact about Walt Disney’s Disney World is that on one of the four kingdom’s opening day, there was approximately around 10,000 people. Disney World has approximately 48 million visitors who annually come to the four kingdom parks for family vacations and other special occasions (www.orlando-florida.net). Many families all over the world come to visit Disney World for many reasons whether they want to have an experience of a lifetime or if they already have been and want to visit again. As one of the two Disney World’s slogans says, Disney is “The Place where Dreams Come True”(disneyparks.disney.go.com).
Marketing strategy Customers Youth, families, tourists, older customers and the middle working class Product life cycle. According to Kotler, P. & Gary, A. (2011), the product life cycle has five stages namely product development, introduction, growth, maturity and decline stage. The stages are determined by the market share of the product.
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