Harvard Case - Ocean Park: In the Face of Competition from Hong Kong Disneyland
"Ocean Park: In the Face of Competition from Hong Kong Disneyland" Harvard business case study is written by Grace Loo, Bennett Yim. It deals with the challenges in the field of Strategy. The case study is 23 page(s) long and it was first published on : Feb 5, 2007
At Fern Fort University, we recommend that Ocean Park implement a multi-pronged strategy focused on repositioning itself as a unique and immersive entertainment destination that leverages its strong local heritage and commitment to conservation. This strategy will involve a combination of business model innovation, strategic partnerships, digital transformation, and enhanced guest experiences.
2. Background
Ocean Park, a Hong Kong-based theme park, faced significant challenges in the wake of Hong Kong Disneyland's opening in 2005. Disneyland's global brand recognition, expansive offerings, and marketing prowess created a formidable competitor, impacting Ocean Park's visitor numbers and financial performance. The case study highlights the park's efforts to adapt and compete, including investments in new attractions, marketing campaigns, and operational improvements.
The main protagonists of the case are:
- Ocean Park Management: Responsible for navigating the competitive landscape and developing strategies for survival and growth.
- Hong Kong Disneyland: The dominant competitor, leveraging its international brand and resources to attract visitors.
- Hong Kong Tourists: The target audience for both theme parks, with diverse preferences and budget constraints.
3. Analysis of the Case Study
Industry Analysis: Applying Porter's Five Forces framework, the theme park industry in Hong Kong is characterized by:
- High Threat of New Entrants: Due to high capital investment and regulatory hurdles, the threat of new entrants is low.
- Moderate Bargaining Power of Buyers: Tourists have limited options, but price sensitivity and competition influence their choices.
- Moderate Bargaining Power of Suppliers: Ocean Park relies on a diverse range of suppliers, limiting their bargaining power.
- High Threat of Substitutes: Other entertainment options within Hong Kong, including cultural attractions and shopping, pose a threat.
- High Competitive Rivalry: The presence of Hong Kong Disneyland and other entertainment options creates intense competition.
SWOT Analysis:
Strengths:
- Strong Local Heritage: Ocean Park's connection to Hong Kong's history and culture provides a unique selling proposition.
- Conservation Focus: Its commitment to marine life conservation resonates with environmentally conscious visitors.
- Established Infrastructure: Existing facilities and infrastructure provide a foundation for expansion and innovation.
Weaknesses:
- Lack of Brand Recognition: Ocean Park struggles to compete with Disneyland's global brand awareness.
- Limited Marketing Budget: Financial constraints hinder effective marketing campaigns and reach.
- Outdated Attractions: Some attractions are perceived as outdated and lack the appeal of Disneyland's newer offerings.
Opportunities:
- Growing Tourism Market: Hong Kong's tourism industry continues to grow, offering potential for visitor growth.
- Digital Transformation: Leveraging technology to enhance guest experiences and marketing efforts can attract new audiences.
- Strategic Partnerships: Collaborations with other businesses and organizations can expand offerings and attract new visitors.
Threats:
- Competition from Disneyland: Disneyland's continued investment and marketing efforts pose a constant threat.
- Economic Fluctuations: Economic downturns can impact tourism and reduce visitor spending.
- Changing Visitor Preferences: Evolving entertainment trends and preferences require constant adaptation and innovation.
Value Chain Analysis: Ocean Park's value chain can be strengthened by focusing on:
- Inbound Logistics: Improving supply chain management for efficient procurement and inventory control.
- Operations: Optimizing park operations, including ride maintenance and staff training, to enhance guest experience.
- Marketing & Sales: Developing targeted marketing campaigns and leveraging digital platforms to reach new audiences.
- Customer Service: Providing exceptional customer service to foster positive word-of-mouth and repeat visits.
Business Model Innovation: Ocean Park can explore innovative business models, such as:
- Experiential Packages: Bundling attractions, dining, and special events to create unique and immersive experiences.
- Membership Programs: Offering loyalty programs with exclusive benefits to encourage repeat visits.
- Strategic Partnerships: Collaborating with local businesses and organizations to offer joint promotions and experiences.
Competitive Strategy: Ocean Park should adopt a differentiation strategy based on its unique strengths:
- Focus on Local Heritage: Highlighting Hong Kong's culture and history through immersive experiences and storytelling.
- Conservation & Education: Positioning itself as a leader in marine conservation and environmental education.
- Unique Attractions: Developing innovative and interactive attractions that appeal to a wider audience.
4. Recommendations
1. Repositioning as a Unique Destination:
- Develop a compelling brand narrative: Emphasize Ocean Park's commitment to conservation, local heritage, and immersive experiences.
- Invest in new attractions: Focus on innovative and interactive experiences that showcase Hong Kong's culture and marine life.
- Enhance guest experiences: Improve customer service, introduce digital tools for navigation and information, and create personalized experiences.
2. Strategic Partnerships:
- Collaborate with local businesses: Partner with hotels, restaurants, and cultural institutions to offer joint promotions and packages.
- Engage with NGOs and conservation groups: Strengthen Ocean Park's commitment to conservation through partnerships and joint initiatives.
- Develop strategic alliances with international theme parks: Share best practices, exchange knowledge, and potentially collaborate on joint projects.
3. Digital Transformation:
- Invest in technology: Implement mobile apps for ticketing, navigation, and interactive experiences.
- Leverage social media: Create engaging content, run targeted advertising campaigns, and interact with potential visitors.
- Develop an online presence: Optimize website for search engines, offer online booking, and provide virtual tours.
4. Marketing and Promotion:
- Target specific market segments: Develop targeted marketing campaigns for families, school groups, and international tourists.
- Increase brand awareness: Invest in advertising campaigns, public relations efforts, and influencer marketing.
- Offer competitive pricing: Develop flexible pricing strategies to attract a wider range of visitors.
5. Operational Efficiency:
- Improve staff training: Invest in comprehensive training programs to enhance customer service and operational efficiency.
- Optimize park operations: Implement lean management principles to streamline processes and reduce costs.
- Invest in technology for park management: Use data analytics to track visitor behavior, optimize resource allocation, and improve decision-making.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of Ocean Park's strengths, weaknesses, opportunities, and threats. They consider the following factors:
- Core competencies and consistency with mission: The recommendations align with Ocean Park's mission to provide entertainment and education while promoting conservation.
- External customers and internal clients: The recommendations cater to the needs of diverse visitor segments and empower employees through training and development.
- Competitors: The recommendations aim to differentiate Ocean Park from Disneyland by leveraging its unique strengths and creating a distinct value proposition.
- Attractiveness ' quantitative measures: The recommendations are expected to improve visitor numbers, increase revenue, and enhance profitability.
6. Conclusion
By implementing these recommendations, Ocean Park can successfully reposition itself as a unique and immersive entertainment destination, attracting a wider audience and achieving sustainable growth. The focus on local heritage, conservation, and innovation will create a distinct value proposition that differentiates Ocean Park from its competitors.
7. Discussion
Alternative Options:
- Mergers and Acquisitions: Ocean Park could consider merging with or acquiring another theme park or entertainment company to expand its offerings and resources. However, this strategy carries significant risks and requires careful due diligence.
- Cost Leadership: Ocean Park could focus on offering lower prices to attract price-sensitive visitors. However, this approach may compromise quality and brand image.
Risks and Key Assumptions:
- Competition: Disneyland may respond aggressively to Ocean Park's initiatives, requiring constant adaptation and innovation.
- Economic Fluctuations: Economic downturns could negatively impact visitor numbers and spending.
- Changing Visitor Preferences: Evolving entertainment trends may require constant adaptation and investment in new attractions.
Options Grid:
| Option | Advantages | Disadvantages | Feasibility | Risk |
|---|---|---|---|---|
| Repositioning & Innovation | Differentiation, unique value proposition | High investment, uncertain outcomes | Moderate | High |
| Strategic Partnerships | Access to resources, shared marketing | Dependence on partners, potential conflicts | High | Moderate |
| Digital Transformation | Enhanced guest experience, cost savings | Technological challenges, security risks | High | Moderate |
| Mergers & Acquisitions | Expansion, increased resources | Integration challenges, potential conflicts | Low | High |
| Cost Leadership | Price competitiveness, increased visitor numbers | Reduced quality, brand image damage | Moderate | Moderate |
8. Next Steps
Timeline:
- Year 1: Implement digital transformation initiatives, launch new marketing campaigns, and develop strategic partnerships.
- Year 2: Invest in new attractions, enhance guest experiences, and refine business model innovation.
- Year 3: Monitor progress, evaluate results, and make adjustments to the strategy based on market feedback and performance data.
Key Milestones:
- Launch of new mobile app: Within 6 months.
- Introduction of new attractions: Within 12 months.
- Development of strategic partnerships: Within 18 months.
- Increase in visitor numbers by 10%: Within 2 years.
By following these recommendations and diligently monitoring progress, Ocean Park can emerge as a thriving and sustainable entertainment destination in Hong Kong, successfully navigating the competitive landscape and achieving long-term growth.
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Case Description
In April 2006, Ocean Park, Hong Kong's only home-grown theme park, launched a syndicated loan to raise HK$4.1 billion for a master plan to revamp the park. The master plan represented the park's strategic responses to the arrival of Hong Kong Disneyland, which had opened the previous year. Faced with a formidable competitor, Ocean Park repositioned itself as a world-class marine theme park. Looks at how Ocean Park positioned itself against an international competitor and how Disneyland's failure to accommodate local culture consolidated Ocean Park's position
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