Customer and International Market Analysis Assignment Sample

Customer and International Market Analysis Assignment 

Task 1- Case Study Analysis

1. Introduction

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While a venture is trying to expand the business in that case, there are various types of strategic notions that are helpful for the business to expand as per the customer demand and trendy situation. Regarding this concern, this particular report will analyse the case study of "WildLand Park" situated in England. From the critical analysis, this report will find out some challenges and risks and suggest some suitable recommendations for the selected venture. In part two the understanding of the theoretical underpinning will be reflected through personal understanding.

2. Analysis and evaluation summarising the situation, strategic priorities and alternative options

2.1 Analysis of the Current Situation of WildLand Park

From the evaluation of the Wildland Park, it has been seen that this visitor venue has all types of facts which have enabled them to raise their knowledge. Instead of all of these, some facts could be enhanced by this tourist park to grasp the attention of the visitors (Dorset Tourism Partnership, 2021). The committee of the park has thought that they have initiated the They have acquired the chance to introduce elephants to the park for the first time, and Lord Wessex, as an avid environmentalist, believes this can be an effort to raise awareness about the condition of this exotic species (World Wildlife Fund, 2022).

Also, they want to add a new They have been given permission to build Europe's tallest launch coaster at Wildland, and it has the potential to become the park's most popular ride (Mintel, 2021). Another influential step of this park is to Refurbish the stately mansion and reopen it to the world, along with a new display chronicling the house's background, with the possibility to introduce a higher market that is not currently served by the existing offering (Office for National Statistics, 2021).

2.2 Strategic priorities for grabbing the market in a better market position

To expand the business based on the customer retention and attention variables this Park has to use some utmost strategic ways for enhancement. In this regard, the marketing mix 4ps is a great strategic tool to evaluate and compare the price, place, promotion and product evidence which is a marketing strategy Audit.

Marketing Strategy Audit

Marketing Mix 4ps

Product

All the products of this tourist park are customer attraction based that has enhanced captivation of the park. The products in this pack are all of their services like roller-coaster riding (Uberoi, 2021), an Amazing attraction in the Zoo which has made the tourists more encouraged towards their services of fun and amazement. But there is still some improvement to be done to grab the attack of the people.

Place

The place is in London, which is the most possible place to welcome the visitors to that venue. They have targeted the possible and targeted customers in that amusement park. From the case study evaluation, it has been seen that Families from the surrounding area make up the bulk of Wildland Park's clientele. Researchers found that whereas the zoo area attracted families with small children, the theme park drew families with older children or teens and groups of young people ten years ago (Uberoi, 2021).

Price

Wildland Park has never contemplated adding additional ticket kinds beyond walk-up rates and group discounts, but Lord Wessex wonders whether this is a good time to investigate promotions, bundles, or yearly tickets.

Promotion

They have promoted the utmost services for their tourists to enhance their marketing capacity. In November 2021, a new website was established to market Dorset as a holiday destination. Lord Wessex asks whether this is a great place to look at promotions, bundling (Visit Dorset, 2021), or annual tickets, which Wildland Park has never considered introducing beyond walk-up pricing and group reductions.

Marketing Environment Audit

As of 2021, according to the company's assessment, the leisure industry in the United Kingdom has a 41% year-on-year growth. Attractions for tourists outpaced that pattern, rising by 91%, despite a significant drop in foreign arrivals to the UK hampering restoration (Dorset Tourism Partnership, 2021). Because of the Covid-19 outbreak, 36 per cent of online adults say that they are more likely to engage in leisure pursuits near home, and 60 per cent of attraction tourists say they are interested in gaining a combo ticket that allows them access to many nearby venues.

Marketing Organisation Audit

Wildland Park was the only visitor attraction of any size in the region. The National Trust has some popular historic attractions in the area, particularly Corfe Castle and Kingston Lacey, but these tend to appeal to older couples or mid-market families.

Marketing Productivity Audit

The park's charm has been boosted by the fact that all of its offerings are designed to appeal to visitors. In addition to roller coaster rides and awe-inspiring zoological spectacles, this park offers a wide range of other activities for visitors to enjoy. Capturing people's aggression (Dorset Tourism Partnership, 2021), however, still has space for improvement.

Marketing Function Audit

The items in this pack are all of their services, such as rollercoaster ride riding and amazing attractions in the Zoo, which has increased visitor interest in their fun and wonder offerings. Wildland Park never has considered introducing more ticket types beyond stroll and corporate rates, but Lord Wessex wonders whether this is a good way to check at specials, bundles, or annual tickets.

2.3 Alternative Options

To enhance the marketing capacity of Wildland Park, the park has to use some different types of strategic selection that can enhance the overall functional procedure of the company with a great profitable path. In this regard, Wildland Park has to initiate some alternative pricing strategies. In some cases, they have used the low-cost pricing strategy in the operating system that holds the different types of low-cost perspectives along with discount policies (Sammut-Bonnici and Channon, 2014). After the wide level of the hit from the pandemic session, it can be said that most of the people are threatened that is why if they have seen that price is comparatively low then it will helpful for them to get the better option and helpful for the Wildland Park in the London rather than the already adopted strategies (Costantino et al., 2016).

From the evaluation, it has been seen that 56% of the visitors from the age group of 16 to 24 have demanded some additional ride at this amusement park regarding the time before the pandemic. Therefore, in that case, as an alternative, they have to initiate some better and more attractive riding things in the park. Already they have decided on some extra facilities but they have to initiate the overall things as soon as possible to resolve the current demand of the customers.

3. Recommendations

From the above evaluation, it has been seen that some things have to be needed, some upscaling performance of this Park that will help them to enhance their performance in a better path. In this regard, in the above section, the evaluation of the current situation has given some alternative prototypes for the betterment of the business. This particular section has given some recommendations that will help the "Wildland Park" for its better placement. To enhance the initiatives that amuse the visitors they have to use some theoretical perceptions on their strategic business planning which hold the main pillars of the operational process.

Application of the relevant theories

In that case, to understand the intentions of the customers or region they can apply the “Theory of Reasoned Action”.

Theory of Reasoned Action

Reasoned action is a phrase Martin Fishbein and Icek Ajzen used for a theory of consumer behaviour that stresses the relationship between advertising and the past attitudes that consumers bring to their buying decisions. According to the concept of "reasoned action," customers do actions in the hopes of achieving the desired end, whether that goal is known or not (Hale, Householder and Greene, 2002). In this way, logical decision-making is the fundamental driver of sales. Marketing can learn a lot from this, the first being the need of tying a transaction to some kind of positive consequence. Customers should be moved through a sales pipeline, instead of left passive, so that they are less likely to abandon a transaction or go to another company.

In this regard, they can use another theoretical notion that is “Hawkins Stern Impulse Buying”.

Hawkins Stern Impulse Buying

Hawkins Stern, in contrast to most earlier theories of consumer behaviour, emphasised the importance of impulsivity. For example, according to Stern's idea, impulsive purchases account for much less than half of the average person's purchasing decisions. Impetuous judgements, such as deciding to buy something because of an attractive advertisement, have nothing in common with established decision-making processes (Zhang, 2021). The Wildland Park Authority can still keep an eye on client preferences and accurately track demand this way.

The "Wildland Park" will also take the help of the theoretical notion of the "Maslow hierarchy of needs". Psychologist Abraham Maslow believes that human behaviour may be impacted by five basic components of human needs. These include physiological requirements, safety requirements (Milheim, 2012), wants for love and belonging, self-esteem requirements, and self-actualization requirements.

 Maslow Hierarchy of Needs

(Source: Kim and Hur, 2019)

Engel Kollat Blackwell Model

An extension of reasoned action theory is the Engel Kollat Blackwell (EKB) Model. According to this buyer behaviour theory, buyers make purchase choices based on a four-step process that includes input, processing, choice stages, and considerations. Consumer behaviour theory's EKB model emphasises the importance of first-stage knowledge intake (Chang, Tu and Huang, 2021). For example, consumers know enough about the good or service that they may recollect and switch back to the company's products or services at a later date.

Application of the relevant strategies

Some relevant and authentic strategies can help "Wildland Park" to initiate their new initiatives based on understanding the customer's demand that will enhance the performance of the company.

Seek Customer Feedback

To provide exceptional customer service, Wildland must first understand its consumers' desires, experiences, and pain points. To achieve these objectives, the company must ensure that customers may submit feedback via a variety of methods. Telephone surveys or an email-based feedback form may be used to do this. This will tell us about their good, bad (Abbas, Gao and Shah, 2018), and ugly experiences with the brand. As a consequence, it will get tremendous insight into what it is doing well and what areas require improvement.

Set up a framework to measure the team’s performance

Another utmost suggestion regarding the understanding of the customers' preferences is to measure the choices of the individual reaction to the services received from this amusement park. In this concern, they will use the Customer Satisfaction Score (CSAT). It will also help to understand the reliability of the individual employees in this park (Abbas, Gao and Shah, 2018). 

Set and communicate service standards

Setting objectives isn't enough to make them a reality. Create responsiveness to customer assurance structure and ensure that everyone in the team is on the same page. Provide employees with a quality control checklist that outlines the most crucial factors to consider while assisting clients (Taibi and Lenarduzzi, 2018). It will, however, opt to provide high-quality feedback to staff, ensuring that it is consistent, timely, and unambiguous.

Use an omnichannel customer service strategy

Omni Channel Strategy" refers to a company strategy that aims to provide the same user experience regardless of the medium utilised. Offering a fully integrated solution that encompasses brick-and-mortar locations, mobile applications, and the internet can help businesses reach a larger audience more quickly (Reinares-Lara et al., 2021).

Visibility, efficiency, simplicity, and confidence are all improved in an omnichannel environment. Customers see flawless meetings as a sign of a company's commitment to the client and modernization of outdated sales tactics. When it comes to launching new channels, companies with established omnichannel operations will have an advantage (Taibi and Lenarduzzi, 2018).

4. Challenges and risks

Change is good for a business and it will help a business to expand the overall business. In that case, for initiating some new features in their amusement park they will have to face some challenges which have the high probability are listed below:

Financial challenges and Risks

From the above-fixed initiatives by "Wildland Park," it can be said that regarding the business drivers with a new notion they will easily face financial loss. From the case study, it has been already seen that the "Wildland Park" has already faced a great risk regarding the financial imbalance for the COVID-19 (Sical and Joël, 2021). Therefore, after the covid situation whatever they want to initiate will face the financial constraints covid like situation which has no guarantee. In this regard, they will face a great loss which will be a bigger risk for them so they have to be cautious on that issue.

Biassed Feedback and Risks

Sometimes people do not express whatever they are. In that case, sometimes they have reflected the biassed reflection towards their feedback. This type of biased feedback from the customers will raise a big issue among them that will be a big risk for the "WildLand Park".

Change-resistant culture and attitude

Historically ineffective reforms, the prevalence of silos, and reluctance to change are all factors that contribute to decreased organisational effectiveness, trust, and participation. The promotion of disruptive thinking, resistance to change, and individual goals are all encouraged in a culture that is replete with negativity. To modify a venture's culture and environment, employees must have a different point of view (Sical and Joël, 2021).

An organisation's culture may create opposition to and management of change as a result of the sophistication of its processes or a record of unsuccessful changes. Therefore, in future, it may somehow impact the functional procedures of "Wildland Park".

Lack of executive support and active sponsorship

Communication, visibility and transparency are all affected by this misunderstanding. It's also difficult to maintain support after implementation because of waning buy-in, a lack of regular communication and other issues that might arise from executive sponsorships. As far as participants are concerned, this is the biggest roadblock. In the same way, as prior studies have shown, sponsorship has a significant impact on transformation management initiatives (Leroux-Sostenes and Bayle, 2019). An organisation's growth may be stifled by bad sponsorships in the same way that good sponsorship can inspire and excite an organisation. For employees, the absence of or inactivity of their initiative's sponsor is seen as an indication of its relevance or insignificance.

Task 2- Reflection

From the above evaluation, it has been seen there have been used different types of theories. In this regard, from the evaluation in the section based on the case of "Wildland Park". From this analysis, I have gathered a wide level of knowledge from which I have chosen one of the frameworks that are discussed in this reflection. Therefore, I have chosen the "Marketing Mix". The Marketing Mix 4ps has enabled me to highlight a lot of aspects of the business related to "Wildland Park". From the evaluation I have seen, the Marketing Mix framework has evaluated the factors like product, price, people and Promotion.

From the applied application of the Marketing Mix, I have gathered a lot of data and information regarding its strengths and weaknesses or limitations. Beyond just acquiring leads and converting them into customers, the marketing strategy must also communicate the company's culture, values, and purpose to the public at large. Putting that idea into words and communicating it to an audience is what branding is all about. When carried out correctly, they have the potential to be quite effective. They have their own set of benefits and downsides, just like any other method of marketing.

A direct connection with the customer is more effective than an abstract message meant to appeal to a large number of people at once. The level of competition for practically all products and services is increasing, and as a consequence, the marketing department's responsibilities are becoming more demanding. According to this definition, marketing mix refers to an efficient framework for boosting the whole value of products and services offered to customers in "Wildland Park." It is one of the four important components of the marketing mix. To generate sales and profits, it is vital to educate customers on the benefits of the products. In the marketing mix, promotion is a major factor to consider. The goal of promotion is to reach the ideal targeted consumers and urge them to support "Wildland Park's" efforts by providing them with valuable information.

Rather than it, I have understood that there are some limitations regarding the use of this framework in the context of "Wildland Park". Even though huge corporations may spend time and money on marketing initiatives, the return on investment may be modest, resulting in the enterprise spending months developing a strategy that contributes nothing to the bottom line.

Even the most meticulously planned marketing techniques might fail, causing a company to go behind schedule by many months. Small companies continue to face an uphill struggle when it comes to grabbing their fair share of viewers via marketing efforts, even though the digital revolution has largely levelled the playing field for them. While big data is very important, it is also quite expensive to acquire, and it is necessary to analyse it regularly to stay abreast of consumer trends.

5. Conclusion

Even though a company is striving to develop, various strategic ideas may help the venture grow in line with customer needs and current trends. Studying "WildLand Park" in England as an example can help shed light on this problem. Using a critical evaluation, this research identifies several issues and dangers and provides suitable recommendations for the selected company. Second, the theoretical foundation has been reflected in personal knowledge.

References

Abbas, M., Gao, Y. and Shah, S.S.H., 2018. CSR and customer outcomes: The mediating role of customer engagement. Sustainability, 10(11), p.4243.

Chang, C.Y., Tu, C.A. and Huang, W.L., 2021. Developing a Recommendation Model for the Smart Factory System. Applied Sciences, 11(18), p.8606.

Costantino, F., Di Gravio, G., Nonino, F. and Patriarca, R., 2016. Evolution of the intellectual structure of research on pricing strategy of low cost carriers. Research in transportation business & management, 21, pp.99-116.

Dorset Tourism Partnership, 2021. The Economic Impact of Dorset’s Visitor Economy 2020. Available at: https://assets.simpleviewinc.com/simpleview/image/upload/v1/clients/dorset/Dorset_districts_2020_a080505f-eb37-4121-ae4e-c01dc228f834.pdf [Accessed: 6 January 2022]

Goi, C.L., 2009. A review of marketing mix: 4Ps or more. International journal of marketing studies, 1(1), pp.2-15.

Hale, J.L., Householder, B.J. and Greene, K.L., 2002. The theory of reasoned action. The persuasion handbook: Developments in theory and practice, 14(2002), pp.259-286.

Kim, S.J. and Hur, M.H., 2019. Understanding of factors influencing happiness of middle-aged women in Korea based on Maslow’s hierarchy of needs. Psychiatry investigation, 16(7), p.539.

Leroux-Sostenes, M.J. and Bayle, E., 2019. From the crowdfunding of sport to shared sponsorship. Current Issues in Sport Science (CISS).

Milheim, K.L., 2012. Towards a better experience: Examining student needs in the online classroom through Maslow's hierarchy of needs model. Journal of online learning and teaching, 8(2), p.159.

Mintel, 2021. Visitor Attractions – UK – 2021. Available at: https://reports.mintel.com/display/1049255/ [Accessed: 6 January 2022]

Office for National Statistics, 2021. Overview of the UK population: January 2021. Available at:https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/articles/overviewoftheukpopulation/january2021#the-uks-population-is-ageing [Accessed: 6 January 2022]

Reinares-Lara, E., Olarte-Pascual, C., Pelegrín-Borondo, J. and Oruezabala, G., 2021. Omnichannel Customer Behavior: New Questions in the Age of Agility. Frontiers in Psychology, 12.

Sammut-Bonnici, T. and Channon, D.F., 2014. Pricing strategy.

Sical, T.G.O. and Joël, T.Z.F., 2021. Financial Inclusion Policy and the Expansion of Mobile Currencies: Between Challenges and Risks.

Taibi, D. and Lenarduzzi, V., 2018. On the definition of microservice bad smells. IEEE software, 35(3), pp.56-62.

Uberoi, E. 2021. House of Commons Library – UK dairy industry statistics. Available at: https://researchbriefings.files.parliament.uk/documents/SN02721/SN02721.pdf [Accessed: 6 January 2022]

Visit Dorset, 2021. Available at: https://www.visit-dorset.com [Accessed: 6 January 2022]

World Wildlife Fund ,2022. Elephants. Available at: https://www.worldwildlife.org/species/elephant [Accessed: 6 January 2022]

Zhang, Y., 2021, December. Taobao Anchors Strategically Promote Impulsive Buying of Consumer. In 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) (pp. 3027-3030). Atlantis Press.

Appendix

Marketing Strategy Audit

Marketing Mix 4ps

Marketing Mix 4Ps

(Course: Goi, 2009)

Product

All the products of this tourist park is customer attraction based that has enhanced captivation of the park. The products in this park are all of their services like roller coaster riding (Uberoi, 2021), Amazing attraction in the Zoo which has made the tourists more encouraged towards their services of fun and amazement. But there is still some improvement to be done to grab the attack of the people.

Place

The place is in London, which is the most possible place to welcome the visitors in that venue. They have targeted the possible and targeted customers in that amusement park. From the case study evaluation it has been seen that, Families from the surrounding area make up the bulk of Wildland Park's clientele. Researchers found that whereas the zoo area attracted families with small children, the theme park drew families with older children or teens and groups of young people ten years ago (Uberoi, 2021).

Price

Wildland Park has never contemplated adding additional ticket kinds beyond walk-up rates and group discounts, but Lord Wessex wonders whether this is a good time to investigate promotions, bundles, or yearly tickets.

Promotion

They have promoted the utmost services for their tourists to enhance their marketing capacity. In November 2021, a new website was established to market Dorset as a holiday destination. Lord Wessex asks whether this is a great place to look at promotions, bundling (Visit Dorset, 2021), or annual tickets, which Wildland Park has never considered introducing beyond walk-up pricing and group reductions.

Marketing Environment Audit

As of 2021, according to the company's assessment, the leisure industry in the United Kingdom has a 41% year-on-year growth. Attractions for tourists outpaced that pattern, rising by 91%, despite a significant drop in foreign arrivals to the UK hampering restoration (Dorset Tourism Partnership, 2021). Because of the Covid-19 outbreak, 36 percent of online adults say that they are more likely to engage in leisure pursuits near home, and 60 percent of attraction tourists say they are interested in gaining a combo ticket that allows them access to many nearby venues.

Marketing Organisation Audit

Wildland Park was the only visitor attraction of any size in the region. The National Trust has some popular historic attractions in the area, particularly Corfe Castle and Kingston Lacey, but these tend to appeal to older couples or mid-market families.

Marketing Productivity Audit

The park's charm has been boosted by the fact that all of its offerings are designed to appeal to visitors. In addition to roller coaster rides and awe-inspiring zoological spectacles, this park offers a wide range of other activities for visitors to enjoy. Capturing people's aggression (Dorset Tourism Partnership, 2021), however, still has space for improvement.

Marketing Function Audit

The items in this park are all of their services, such as rollercoaster ride riding and amazing attractions in the Zoo, which has increased visitor interest in their fun and wonder offerings. Wildland Park never has considered introducing more ticket types beyond stroll and corporate rates, but Lord Wessex wonders whether this is a good way to check at specials, bundles, or annual tickets.