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The objective of the festivals should be to drive repeat business, and to give all visitors the sense that they have experienced something special, beyond just the normal park experience.
The third recommendation is to utilize membership clubs. These can not only serve to drive repeat business from locals, but can also serve as outreach to the broader target market area. The use of social networking can assist with this -- the major western sites in most of the region and QZone in the mainland. Membership clubs can receive special offers, but they can also be made aware of events, deals, and changes to the park. Moreover, membership clubs improve customer loyalty as well. They encourage members to focus on one theme park, an essential tactic in today's two-park environment and the three-park environment post-2014.
The fourth recommendation is to constantly review the facilities and programs. The park needs to stay fresh in order to attract repeat business, but also in order to be continually attractive to the target demographic. Only be staying on top of entertainment and amusement trends of the target demographic will HK Disneyland be able to meet the unique needs of its audience.
The fifth recommendation is to build liaisons with external entities. Hong Kong Disneyland already has strong ties with the local government, through shared ownership of the facility. Deals can also be made with other local attractions, airlines, tour operators and other companies that target the same market, or that run complementary businesses. HK Disneyland to this point has relied on its facilities and brand recognition to drive business, but further partnership development would improve its drawing power.
Conclusion
Hong Kong Disneyland has been successful thus far, but faces numerous challenges, none more so than those presented by a weak economy and stiff competition from Ocean Park, the other major Hong Kong theme park. HK Disneyland faces a generally positive operating environment, so is in a position to take advantage of opportunities in brand-building, partnerships, and marketing with an orientation to driving repeat business as opposed to a continual cycle of new customers. Taking better advantage of technological developments in market is the most important recommendation for HK Disneyland, but improved special event and constant reinvention...
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Works Cited:
Chiang, S. (2009). Dinkey Disney springs a Shanghai surprise. The Standard Retrieved November 26, 2009 from http://www.thestandard.com.hk/news_detail.asp?pp_cat=11&art_id=91058&sid=26202974&con_type=1
Shen, L., Platten, A. & Deng, X. (2006). Role of public private partnerships to manage risks in public sector projects in Hong Kong. International Journal of Project Management. Vol. 24, 7, 587-594.
Esty, B. (2005). Structuring loan syndicates: A case study of the Hong Kong Disneyland project loan. Journal of Applied Corporate Finance. Vol. 14,3, 80-95.
Yeung, B. & Hui, E. (2002). Option pricing for real estate development: Hong Kong Disneyland. Journal of Property Investment & Finance. Vol. 20,6, 473-495.
No author. (2009). Gross domestic product and its major components. Government of Hong Kong SAR. Retrieved November 26, 2009 from http://www.hkeconomy.gov.hk/en/pdf/domestic.pdf
Eldon, E. (2009). The world's most lucrative social network? China's Tencent beats $1 billion revenue mark. Digital Beat. Retrieved November 26, 2009 from http://digital.venturebeat.com/2009/03/19/the-worlds-most-lucrative-social-network-chinas-tencent-beats-1-billion-revenue-mark/
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