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Samsung Everland
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Transcript of Samsung Everland
Samsung Everland
Introduction
Everland is largest theme park in Korea It offers numerous recreational activities
includingEuropean AdventureMagic land American AdventureRoller Coasters Everland Speed WayWild River
Continue… Sea Wave Aquatic centerFortressBay Slide Zoo-Tropia,
Overview of the Case• Samsung Everland is the pioneer in introducing theme park concept
in South Korea,• Everland formally Yongin farmland was opened in 1976• Operating profits of the company increased in past few years• Number of attendants also increased in past years• Primary market comprises of customers who travel about 1 hour
drive to Everland, where as secondary market focuses 1-2 hours and tertiary market comprises of those driving more then 2 hour drive
• Everland introduced a master plan, expansion of everland which include Caribbean bay, Global fair, Safari Tour
• Everland is often compared to Disneyland by those who have visited both parks
• Mr.Her (president) was not only committed to the customer satisfaction but one step ahead i.e. delight them
•
Master Plan: Farmland Everland
Expansion and Up gradation First Phase investment of US $ 300 Million Introducing
Caribbean Bay water park worth $140m Global Fair worth $85m Safari Tour worth $50m
On successful completion of first phase: Second Phase will be launched comprises of devolving Resort
Town, Luxury Hotels, Golf Courses & Resort Accommodation
Service Initiative Enhancement of services(Win-Win Philosophy) Cleanliness campaign Service academy
In-house educational center Enhance learning capabilities Service trainings for other organizations Nationwide campaign for courtesy & kindness)
Personnel policy (recruitment, education & retraining) Early measurements(Korean Research Group)
Competitors Lotte World Seoul Land Dream land Children Grand
Park Seoul Grand
Park
1990 1991 1992 19930
1
2
3
4
5
6
EverlandLotte WorldSeoul land
Everland
Lotte World
Seoul Land
SWOT
Strengths–S
•Pioneer in Korea•Strong parent company Brand, Financially strong•Vast premises•Orientation towards customer satisfaction
Weaknesses – W
•Image in Yongin •Quality in service•Low employees concern to satisfy customers•Accessibility •Increased operating expenses
Opportunities – O
•New markets•Indoor recreational facilities•Increasing need of recreational activities in people•22.2% people prefer spending 1day holiday in theme parks
SO Strategies•Product Development (S2+S3+O2)•Market Penetration (S2+S3+O2+O4)•Market development (S2+ O1)
WO Strategies•Market Penetration
Threats – T
•Strong Competitors•Creative and innovative industry
ST Strategies
•Focus Strategy (S2,3,4 + T1,2)•Innovation (S2,3,4 + T1,2)
WT Strategies •Differentiation •Enhance brand image
Porters Five Forces ModelCompetitive Rivalry
IntenseBargaining power of supplier
High Bargaining power of customer
highThreat of new entrants
Low Threat of substitute
medium
PEST AnalysisPoliticalEconomical SocialTechnological
Profit declined1992 1993 %age Change
Net Sales 47173 55217 17%
Total Expenses 43817 51987 19%
Operating Profit
3356 3230 (3.75)
*Data in Millions of Korean Won
Recommended Strategies Theme parks industry is highly technological, and it require
innovation and new products with the passage of time, we recommend “Product Development” for Everland
Everland should provide quality service in order to retain their customers and for this it is advised for “Market Penetration”
Theme park is a growing industry and Asia is considered to be a highly attractive market, so Everland should go for Market Development
Everland must implement focus strategy in order to increase their quality in service to delight their customers, because Theme parks business is based on returning back customers (those who visit again & again)
Everland should also build a strong R&D department, because successful theme Parks need strong market research to better understand their customers