Six Flags New Product Proposal (2)

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Transcript of Six Flags New Product Proposal (2)

  • NEW PRODUCT PROPOSALJessica DillonAmanda IvenJake Standley

    Michael RashtianAlicia Roxanne

  • NEW PRODUCT PROPOSAL OUTLINE

    PART 1

    Brand PositioningBrand Mantra

    Opportunity Identification

    PART 2Repeated for Concepts #1-3

    Concept ExplanationFocus Group Insights

    3 Factor Model4 Factor Model

    ATAR ModelConcept Evaluations

    PART 3

    New Product SelectionNew Product Rank

    Final RecommendationsNew Product 5Ps

  • BRAND POSITIONING

    1

    POPs PODs

    Exciting RidesMerchandise

    Character Actors

    DC FranchiseHigh # of Roller Coasters

    AffordableEveryday

    CATEGORY: Amusement Park

    COMPETITORS: Disneyland & Universal Studios Hollywood

    TARGET MARKET: 17-25 Young Adults, Local Tourists & California Residents

    CORE BRAND VALUES

  • BRAND POSITIONING

    2

    POSITIONING STATEMENT: Six Flags Magic Mountain is the only affordable, everyday amusement park that features innovatively themed attractions and an abundance of roller coasters to meet the needs of thrill-seeking young (ages 17-25) Californian residents.

    POSITIONING STRATEGY: Although Six Flags is the most thrilling amusement park, it lacks competitive innovation despite having a large variety of rides that draw from various contemporary franchises. In order to enhance this association, Six Flags is taking steps to position itself higher on the innovative scale.

  • BRAND MANTRAEMOTIONALMODIFIER

    DESCRIPTIVEMODIFIER

    BRANDFUNCTION

    Thrilling Affordable and Everyday

    Amusement Park

    3

  • OPPORTUNITY IDENTIFICATION

    4

    CONSUMER NEEDS AND TRENDS: Consumers may enjoy an attraction that immerses them into the world that they see on

    the movie screen. Per Experian Marketing Services Simmons data, kids are the most likely to own Transformers, Spiderman, or Batman action figures, all of which have been turned into theme park attractions. (Mintel.com)

    The success of Six Flags Fright Fest and Universal Studios Horror Nights builds upon the popular horror genre to attract customers.

    Consumers may be looking for more detailed aesthetics inside an amusement park that offer more than just the rides and add to the overall design of the theme park.

    Affordable admission is among the top five most important factors in deciding to visit a theme park, indicating that it is certainly a consideration (Mintel.com). Affordable prices helps build upon the idea of a staycation, a trend that has arisen in the past couple of years that create the illusion of a vacation by spending less by going to regional attractions while also feeling like an escape from home.

    Some 40% of theme park visitors look for attractions adults would enjoy when deciding which theme park to visit (Mintel.com).

    http://academic.mintel.com.libproxy1.usc.edu/display/737950/http://academic.mintel.com.libproxy1.usc.edu/display/737950/

  • WAYNE MANORBruce Waynes childhood home is under attack and its up to you to save the day!

    This immersive haunted dark ride will include: An impressively large estate grounds that mirrors

    the manor featured in the franchises recent films (with seasonal elements pertaining to Halloween and Christmas)

    State-of-the-art pyrotechnics to simulate stormy weather and the frantic flutter of bat wings

    6-person batmobiles to fly passengers through startling dips and turns on an exciting voyage to find the underground batcave

    Terrifying villains like the Joker, Mr. Freeze & Scarecrow played by real actors

    5

  • FOCUS GROUP INSIGHTS WAYNE MANOR

    6

    ATTRIBUTES: BENEFITS:

    Features of Batman Franchise Haunted HouseHorror Genre

    Means to interact with Batman universeIncreases parks ride variety

    New type of scary

    POTENTIAL DRAWBACKS: Might not appeal to those who are unfamiliar with franchise Attraction might be perceived as too tame compared to other roller coasters Horror association may confuse consumers perception of Six Flags core values

  • 7

    THREE FACTOR MODEL WAYNE MANOR

  • 8

    THREE FACTOR MODEL WAYNE MANOR

  • THREE FACTOR MODEL WAYNE MANOR

    9

    SALIENCE(Medium)

    The ride builds off existing equity with Batmanas a secondary source. The source helps buildthat connection between consumer and the overall brand of Six Flags. It also builds a morecontemporary association for Six Flags.

    FAVORABILITY(High)

    When respondents were asked to rank the following associations, the response was as follows: 1. Entertaining 2. Youthful 3. Scary & Trendy (tied)From the parent brand, Six Flags extends positive associations like entertaining and thrilling and creates an interactive association that wasnt present before. Many respondents believed the ride might be cheesy, however because its just in concept testing, this association has the potential to change if ride is done right. Overall, there is high favorability.

    UNIQUENESS (Medium/High)

    75% of respondents said this attraction was unique. As the ride emphasizes horror while maintaining Six Flags core value of thrilling, Wayne Manor has the opportunity to have a high uniqueness that differentiates itself from other dark rides. Rating:Wayne Manors points of difference are:Batman, Haunted Mansion, Theatrical, Scary and Interactive

  • 10

    FOUR FACTOR MODEL WAYNE MANOR

  • 11

    FOUR FACTOR MODEL WAYNE MANOR

  • FOUR FACTOR MODEL WAYNE MANOR

    12

    COMPELLING(Medium)

    Wayne Manor reinforces existing parent associations including: thrilling, scary, entertaining, Batman, not for children and too intense. It also adds new associations including: theatrical, interactive, haunted mansion, unoriginal and long lines. Many respondents believed viewed the ride as not for children, but family oriented which hints that the ride could cause confusion in the consumer's mind. Until executed right, the product has a medium compelling rating.

    RELEVANCE(High)

    Wayne Manor enhances the trust, credibility and value of the Six Flags brand. The Wayne Manor line extension builds upon Six Flags existing Batman association and equity. As other theme parks are also capitalizing off of secondary sources (Disneyland developing a Star Wars land for example), consumers trust that Six Flags would make this attraction true to Batman, thrill rides, and what they expect from the Six Flags brand.75% of respondents trust Six Flags to make this attraction well.

    CONSISTENT(Medium)

    Wayne Manor fits within the Six Flags brand, but as indicated from respondents its unexpected from Six Flags. 49% of respondents expect Six Flags to make this attraction.75% of respondents feel Wayne Manor would be a good fit.

    STRONG(High)

    Wayne Manor would strongly influence the perceptions of the parent brand.72% of respondents believe Wayne Manor would positively impact their opinion of the Six Flags brand.

  • ATAR MODEL WAYNE MANOR

    13

    Trial Rate 28%

    Repeat Rate 458%

    Trial Sales Units 51,886.67

    Repeat Sales Units 237,640.95

    Total Sales Units 289,527.62

    Retail Sales Volume $67,095,130.66

  • CONCEPT EVALUATION WAYNE MANOR

    14

    BRANDING TYPE: Sub-brand

    EXTENSION TYPE: Line extension; increases ride variations inside the theme park

    EXTENSION STRATEGY: Products relevant to the customer franchise of the brand, products capitalize on the firms perceived expertise, product capitalize on the distinctive image or prestige of the brand.

    IDENTITY: Thrilling attraction, scary elements inside the ride

    PODs: Haunted house that is not limited to halloween season, leveraging a famous superhero icon, history and heritage of Batman stories and characters

    WHAT CHANGES? Builds upon the thrill association and core value of Six Flags, while creating a horror ride not seen anywhere else. Adds an element of adult thrill.

  • RECOMMENDATION WAYNE MANOR

    15

    CONSUMER NEEDS MET: Consumers may enjoy an attraction that immerses

    themselves into the world that they see on the movie screen.

    The success of Six Flags Fright Fest and Universal Studios Horror Nights builds upon the popular horror genre to attract customers.

    Some 40% of theme park visitors look for attractions adults would enjoy when deciding which theme park to visit (Mintel.com). By capitalizing off of the horror and scariness of Wayne Manor, the ride will attract adults to the park, thus expanding customer demographic base.

    *Wayne Manor has the greatest likeability and fit among the three concepts, the lowest risk, and adds equity while doing little to negatively affect the Six Flags brand overall.

    PRO: Builds upon success of Six Flags Fright Fest and Universal Studios Horror Nights and feeds into the horror genre trend in amusement parks and haunted houses. Think: Halloween year-round.

    PRO: 75% of respondents said this attraction was unique. As the ride emphasizes horror while maintaining Six Flags core value of thrilling, Wayne Manor has the opportunity to have a high uniqueness factor that differentiates itself from competitive dark rides.

    PRO: Some 33% of theme park goers agree that new rides or attractions are very important in their decision to visit a park (Mintel.com).

    Wayne Manor is therefore considered low risk and could attract more people (like older adults rather than just teenagers) to the park itself while not having to increase ticket prices.

    CON: Many respondents believed the ride might be cheesy, however because its just in concept testing, this association

    has the potential to change if ride is done right.

    ht