The high population and improved living conditions of the people of Fremantle, Western Australia and its environs offer a business opportunity for a theme park. The main target of the park will be the youth and kinds; this target population by extension involves parents accommodating them into the park.
To ensure that the firm enters in the market effectively and remain competitive, the management needs to undertake a situational analysis and develop marketing objectives of the project (Paul & Donnelly, 2010). This paper discusses the situational analysis and marketing objectives of the project.
Situational analysis
When developing the project, the effects of the project in terms of qualitative and quantitative measures; it should ensure that internal strengths and weaknesses have been well interpolated. A business operates in an environment with people who have different cultures, way of doing things, economic and cultural beliefs; the park targets the local people thus an understanding of the societal dynamics of the people is important.
The Australian population is growing from an increased birth rates and immigrations; these will offer the park an increased business. On the other hand, the improved living condition of the people of Fremantle and western Australian in general will offer the park high customer inflow (Pearce & Robinson, 2011).
It is important for business coordination be in harmony with the social function of the larger society. There should be coordination between the values of the company as well as the community. Social norms are considered essential by the business organizations as the purchasing behavior of the customers living in a particular society is dominantly affected by these norms.
Australia has good communication and transport system that will assist the company tap business from different areas; this includes using the internet as form of advertising to meet the potential customers from different parts of the world (Rakesh, 2005)
Australia has legislation laws that a firm must comply with if it has to undertake business in the country. Companies have to follow the companies’ laws and acts of the international business as well as domestic business. While working on the global level, the companies have to consider three types of the legal systems including common law, civil law, and theocratic law.
Hospitality industry is faced with increased laws since there is need for health laws compliance. The non-compliance with such laws creates critical legal issues for the company which has an adverse impact on the business performance as well as corporate image of the company (Mintzberg, Ghoshal, Lampel & Quinn, 2003).
Australia has a monarch kind of government, this does not mean that the country’s political wave is one sided but the resultant is that there is an influence that it has on the business environment. Political environment includes the government systems and judiciary systems, which influence the business of the international organizations. The political way may determine things such as where the roads are going to be made, who maintains them among other factors (Schulte, 2000).
The hospitality industry in the Australia is highly competitive with players like Perisher Blue and McDonald; coming out with new products to remain competitive. The park should distinguish itself from other theme parks restaurants by developing unique and identifiable characteristics. The best approach is to keep innovating and coming up with new products that meet the needs of the customer (Rakesh, 2005).
Marketing objectives
Marketing in an integral part in product development as it creates awareness of the existence of a products or service in the market, it goes further than selling, advertising and creating awareness to include company-customer relations (Miles, 2003).
Through marketing, a company learns the deficit that a certain industry has, and then endeavor to produce goods to meet the demand in the market (Kerin & Peterson, 2009). To develop an effective marketing strategy, an organization needs to undertake and elaborate situational and S.W.O.T. analysis. It is through the understanding of prevailing condition that it will make sound marketing decisions and approaches.
The following are the specific objectives of marketing:
- to create awareness of products and services offered at the park; this will be done through aggressive adverting and sales campaigns
- To offer advice to other departments from the information and the feedback they have gotten from the market; marketers interact with customers thus they are better situated to advice on the quality and quantity of services that customers want (Taylor, 2001).
- to improve customer service and create, develop and maintain customer loyalty: this will be done through continuous service and product improvement as well as products differentiation
- To improve the company’s sales through increasing and maintaining customers (Kotler & Kevin, 2007).
When starting up a new business, it is paramount to undertake a situational analysis that defines the operating environment of the company. With the situation of the market at hand, then the company can go ahead and formulate marketing objectives.
A theme park at Fremantle, Western Australia would be favored by social-economic environment of the Australian, however an aggressive marketing campaign need to be undertaken (Barney, 2007).
Reference
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Paul, P., & Donnelly, H.(2010). Preface to Marketing Management. Boston: McGraw Hill.
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