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. Before the product enters the market, there are no sales, as the product is being prepared for the market. There is market research that is being conducted. Introduction stage begins with the launching of the product followed by growth where there is an increase in the market share. When the product reaches maturity stage, the sales are at their peak. At the decline stage, the sales are declining. Product …show more content…
The product is not fairly new to the market because it is a well-known brand. There are South African retail companies which are currently selling the clothing and toys depicting this brand. Although sales are low at the stage, due to the brand being well known; sales are likely are to take off in a positive manner. The families can already identify with the Walt Disney brand from the clothes that their children wear to the cartoons that they watch at home. Some of the youth members and the middle class consumers also have the Walt Disney’s apparels. The launch of this product in the South African market will bridge that gap of having that closeness with the Walt Disney …show more content…
The Walt Disney Adventure Theme Park will include the safari. This will assist in establishing the connection with the customers as they have indicated on the survey. • The types of activities in the adventure park will be the safari, rides, hotels, picnic spots hosted by the characters and photo opportunities. • Patents and trademarks • The branding will display the youthfulness, joyfulness and inclusiveness (family) of the product. Place • The adventure theme park will be located in Johannesburg as it is the central place and easily accessible utilising the different modes of transportation. This will also cater for the national and international. • Johannesburg is also ideal because it the economy hub of South Africa. • The adventure theme park will partner with the Legacy Hotel Group for their accommodation and safari facilities. • The adventure theme park will establish and strengthen relationships with travelling agencies Price • The company will adopt a mass market penetration which will commence with low prices to stimulate the demand. This will also assist in attracting the targeted audience as the buying power is declining in the South African market due to increase in interest rates. This will further allow the company to capture a large market share and build the image of the park.