Harvard Case - Jurassic Park
"Jurassic Park" Harvard business case study is written by John A. Quelch. It deals with the challenges in the field of Marketing. The case study is 18 page(s) long and it was first published on : Nov 20, 1995
At Fern Fort University, we recommend a multi-pronged approach to address Jurassic Park's challenges, focusing on a comprehensive marketing strategy, robust risk management, and ethical considerations. This strategy aims to leverage the unique brand value of Jurassic Park, manage public perception, and ensure the long-term sustainability of the park while prioritizing visitor safety and environmental responsibility.
2. Background
Jurassic Park, a revolutionary theme park featuring genetically engineered dinosaurs, faces a crisis following a catastrophic incident resulting in multiple deaths and a public backlash. The case study explores the park's struggle to rebuild trust, manage public perception, and ensure the future viability of the park. The main protagonists are John Hammond, the visionary founder of Jurassic Park, and the park's management team, tasked with navigating the aftermath of the disaster and charting a course for the future.
3. Analysis of the Case Study
The case study highlights several critical issues:
- Brand Damage: The incident severely tarnished the Jurassic Park brand, impacting public perception and trust.
- Public Perception: The public is wary of the park's safety and ethical implications of genetic engineering.
- Risk Management: The park's failure to adequately assess and mitigate risks led to the disaster.
- Marketing Strategy: The park's marketing strategy needs to be reevaluated and adapted to address the new reality.
- Financial Sustainability: The park's future financial viability is uncertain, requiring a strategic approach to revenue generation and cost management.
Framework: We will utilize a combination of frameworks to analyze the case:
- SWOT Analysis: To understand the park's internal strengths and weaknesses and external opportunities and threats.
- PESTEL Analysis: To assess the political, economic, social, technological, environmental, and legal factors impacting the park.
- Marketing Mix (4Ps): To develop a comprehensive marketing strategy addressing product, price, place, and promotion.
4. Recommendations
1. Re-Branding and Public Relations:
- Brand Positioning: Reposition Jurassic Park as a responsible and ethical scientific marvel, emphasizing safety and conservation efforts.
- Public Relations Campaign: Launch a transparent and honest public relations campaign to rebuild trust and address public concerns.
- Community Engagement: Partner with local communities and environmental organizations to demonstrate commitment to responsible practices.
2. Enhanced Risk Management:
- Independent Audit: Conduct a thorough independent audit of the park's safety protocols and infrastructure.
- Emergency Response Plan: Implement a robust and comprehensive emergency response plan to address potential incidents.
- Technology Integration: Utilize advanced technology and AI for real-time monitoring and predictive analysis to proactively mitigate risks.
3. Marketing Strategy:
- Target Market Segmentation: Identify and target specific market segments with different interests and concerns.
- Product Differentiation: Offer unique experiences and attractions that highlight the park's scientific and educational value.
- Pricing Strategy: Implement a tiered pricing structure to cater to different budgets and demographics.
- Marketing Channels: Utilize a mix of traditional and digital marketing channels to reach the target audience.
- Content Marketing: Create engaging content that educates visitors about dinosaurs, conservation, and the park's scientific advancements.
4. Financial Sustainability:
- Diversification of Revenue Streams: Explore new revenue streams beyond park admission, such as merchandise, educational programs, and licensing agreements.
- Cost Optimization: Implement cost-saving measures without compromising safety or visitor experience.
- Strategic Partnerships: Collaborate with other businesses and organizations to leverage synergies and create new opportunities.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies: Leverage Jurassic Park's unique brand value and scientific expertise.
- External Customers and Internal Clients: Address concerns of both visitors and employees.
- Competitors: Differentiate Jurassic Park from other theme parks and attractions.
- Attractiveness: The recommendations aim to improve the park's financial viability and long-term sustainability.
Assumptions:
- The public is willing to return to the park if they perceive it as safe and ethical.
- The park can successfully implement the recommended safety and risk management measures.
- The park can effectively communicate its new brand positioning and values.
6. Conclusion
By implementing these recommendations, Jurassic Park can overcome its challenges and emerge as a responsible and thriving attraction. The park can leverage its unique brand value, address public concerns, and ensure the long-term sustainability of the park while prioritizing visitor safety and environmental responsibility.
7. Discussion
Alternatives:
- Closure: Closing the park permanently would be a drastic measure, but could be considered if the park's reputation is irrevocably damaged.
- Limited Operations: Operating the park with limited attractions and reduced capacity could be a temporary solution while rebuilding trust and managing risks.
Risks:
- Public backlash: The public may not be receptive to the rebranding efforts.
- Financial constraints: Implementing the recommendations may require significant financial investment.
- Technological challenges: Implementing advanced technology and AI may pose technical and logistical challenges.
Key Assumptions:
- The public is willing to return to the park if they perceive it as safe and ethical.
- The park can successfully implement the recommended safety and risk management measures.
- The park can effectively communicate its new brand positioning and values.
8. Next Steps
Timeline:
- Month 1-3: Implement the public relations campaign and conduct the independent audit.
- Month 3-6: Develop and implement the new marketing strategy and enhanced risk management plan.
- Month 6-12: Monitor the effectiveness of the implemented strategies and make adjustments as needed.
Key Milestones:
- Public perception surveys to assess the effectiveness of the rebranding efforts.
- Financial reports to track the park's financial performance.
- Safety audits to ensure compliance with the new risk management protocols.
By following these recommendations, Jurassic Park can overcome its challenges and emerge as a responsible and thriving attraction, showcasing the wonders of science and the power of responsible innovation.
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Case Description
Managers at MCA/Universal Merchandising are reviewing worldwide merchandising and licensing arrangements for the movie Jurassic Park.
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