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- How the change in the price of a compliment of substitute good effected your industry
- How the change in consumer information effected your industry
- Turn in at least two examples of each Demand changes in your industry typed, double spaced, Thursday 3/1
- Present your finding by Thursday 3/2
Examples of Shifts in Demand in the Theme Park and Resort Industry
ReplyDeleteTheme parks and resorts have found bundling complimentary goods/services in "packages" to be very lucrative. Packages offer theme park admission along with complimentary services such as hotels and dining. Although these packages present a plethora of benefits for the supplier, and are attractive to consumers by concept of reducing price of a complimentary service. The Disneyland Resort can keep guests, and their fat wallets, on property for maximum time by offering deals on hotel rooms and dining plans; and these deals make visiting a theme park more attractive or possible for visitors. Therefore, cutting the price of a night's stay in a hotel can attract a substantial number of additional theme park guests.
The Disneyland Resort, with two distinct theme parks, commonly markets both parks together; tickets are available for Disneyland, or Disney California Adventure alone. Simply, a guest could either purchase a park-hopper to visit both parks in a day, or choose between the two parks for a cheaper ticket. In many areas of customer satisfaction, Disneyland Park greatly surpassed the singular allure of its younger sister park, but the most obvious discrepancy was the lack of nighttime entertainment at Disney California Adventure. During the summer of 2010, Disney California Adventure unveiled a nighttime spectacular, "World of Color." The addition of this major crowd-pleaser as well as extended nighttime hours greatly shifted customer interest in visiting Disney California Adventure; therefore more people choosing to visit only one park at the Disneyland Resort began to chose the younger of the two parks.
In February 2001, the Disneyland Resort in California opened its second park, Disney's California Adventure. The suits behind the resort expansion had high expectations for this new park (which sits adjacent to the divine example of theme parks), but the initial annual attendance produced approximately two million less visitors than the projected seven million. The cut-rate park didn't win over the critical guests who had become enamored with the thick detail and storytelling available in Disneyland Park, and word of mouth soon proved to sink this initially dismal park deeper into a hole. Low customer satisfaction lowered the attendance to the park by the continual negative information and reviews available to potential visitors.
In 2008 the Walt Disney Company announced that it had approved a 1.2 billion dollar plan to overhaul Disney's California Adventure Park. As previously stated, the park had accumulated a report of dissatisfaction from guests and critics alike, and this announcement changed visitor outlook on the park and the Disneyland Resort as a whole. Not only did this piece of information reassure repeat guests (annual passholders/SoCal residents/Disney fans/normal people) that Disney is going to great lengths to provide an optimal experience for their guests, but it also inspired much interest and curiosity in Disney's California Adventure. Even during extensive closures and construction projects, guest numbers have been sharply rising as customers come to experience the next new attraction or witness the park during transformation.
holy crap.
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