Entertainment parks play an important role for different communities. They offer an opportunity to have a rest from daily stress, spend time with the family, and make both children and parents happy. However, such parks usually refer to the big businesses with many operations and activities. The big businesses have own specificity, which demands strong leadership skills from their executives assisting them in making right decisions. The current paper concentrates on rescuing entertainment park “Worlds of Play” from the bankruptcy.
The Meeting’s Summary
Alex offered to focus on a particular type of a customer. He would like to concentrate on rich people who would receive preferences not only at the rides, but at food corners as well. Thus, Alex hopes to raise the overall revenue with the help of “preferred guest” cards, which would cost significantly more than the rest of the tickets. Perhaps, he decided on this idea after noticing that the upgraded restaurants doubled the profit. Therefore, he made a conclusion that the park’s customers required more comfort to become satisfied with its services.
The park has few options which include the possibility of increasing a number of visits per customer, average spending of a regular guest, or winning new people, for example, with the help of advertising. Alex also proposes to concentrate on the first option while using partially the second possibility. He would like to make the target audience return more often to the park by saving their valuable time. The business strategy consultant analyzed the special needs of special guests who have a higher income. He explained that such customers might not be ready to spend much money due to the lack of spare time. Thus, they may still have an interest in “Worlds of Play” but the park’s system does not offer the required opportunities to them. However, Alex is convinced that this group of customers is important – especially at the time of crisis. The park works for a long time and has gained a good reputation. It means that the existing customer base showed that it had limited resources of funds. Therefore, Alex insists that “Worlds of Play” should not concentrate on the quantity: it must improve the quality for the people who are ready to make extra spending.
Additionally, the consultant introduced a new psychology of modern wealthy people. He shared their view about time and stated that they were not ready to pay for the lost hours in queues anymore. Rich people need rest and peace, and only under these conditions they are ready to spend their funds on more entertainment. If the park does not consider these special demands, it loses not only important guests but additional profit as well.
Other Members’ Opinions
Other team members are concerned with the old customer base. They explained that the majority of guests felt satisfied with the park because they felt already comfortable. They are afraid that this comfort may be deteriorated by new guests with the “preferred” cards. Thus, it may give the old customers a feeling that they are not welcomed anymore. They may feel that new guests have all possibilities and special comfort while the rest has to wait with the majority.
In such a manner, the option of the “preferred guest” card may change the park’s image. Nevertheless, some workers remembered that other parks had separate lines for special customers. They explained that it might have the right psychological effect without changing the “Worlds of Play” brand. As a result, they want to combine the necessity in additional funds with the ability to keep positive sides of the business. Such attitude sounds like a compromise between different drawbacks associated with Alex’s novelty.
Personal Opinion
The park demands immediate actions and for this reason managers should apply all available strategies to rescue it from the bankruptcy. In such a manner, they can combine offers coming from different managers. They must focus on different groups of customers to maximize profit. Moreover, the entertainment park has problems with operating the increased costs. It shows that the personnel are not efficient or they do not follow the same goal. Thus, I would recommend concentrating not only on the external factors but on the internal activities as well. Moreover, in case regular customers have some problems with the “preferred guests” cards, their dissatisfaction can be avoided with the help of other qualitative service coming from the happy personnel.
First of all, managers must share the information about the park’s difficulties with the rest of the personnel. Second of all, they must put the “rescuing operation” as the major priority. Third of all, they must explain that the park may avoid the crisis, if all teams concentrate on decreasing the operational costs. Later, Alex should present the “preferred guests” card as an advertising campaign. Perhaps, it could win attention not only from rich consumers. However, the park’s administration must not forget to organize separate lines to satisfy the needs of all guests.
Conclusion
To summarize, the entertainment park may become a very profitable business, if its managers pay maximum attention to the demands of various customers. Thus, “Worlds of Play” has chosen the correct strategy of brainstorming on multiple ideas. All key leaders should understand that they must combine their forces to make rapid changes. However, they should not forget that the rest of the personnel also play the crucial role in the qualitative service. Moreover, necessary changes will take place easier, if all employees are aware of their importance. Finally, “Worlds of Play” has managed to build a good brand among many people which proves that it has the capacity to overcome temporary difficulties.
This text is written by Eric Walker who is a writing editor at marketing plan writing service
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