I am writing this report due to it being requested by the marketing manager of Chesjet. My investigation is about the most effective way to market a new attraction for Chesjet Theme Park, an effective marketing campaign is important to make sure that new products and services are successful. I will be investigating possible marketing techniques, which could be used in the launch of a new attraction for Chesjet Theme Park. The deadline for this report is Friday 5th December 2003. Businesses need to know what the consumer needs and wants to buy.
In order to find out if there is a market for the new attraction I need to do some market research, I will probably do something like a questionnaire to gather, present and interpret data about the markets (peoples) demands for goods and services. I will use desk research as well as field research so I get lots of accurate and informative data. I will more than likely use the product-orientated approach, which is to develop and launch a product, and then embark on a heavy promotion and advertising campaign to convince consumers that they want the product.
The market I’ll be aiming my attraction at is ‘thrill seeking teenagers’ in the 15-24 age group. When developing the attraction Chesjet will invest a lot ofmoneyinto researching the market for the new product, developing the product and market testing the product. At this stage the attraction makes no money for the company: on the contrary it is costing money for the development. I will be developing a new roller coaster for ChesJet theme park as I feel rollercoasters appeal to the 15-24 age group most. Research and development is the first stage in the product life cycle.
Any new product will have an expected life cycle. This is the length of time the manufacturer expects the product to sell. This life cycle is made up of a series of stages. Stage 1 – Development (explained above) Stage 2 – Introduction The product is launched on the market. Promotion campaigns and a large amount of advertising will take place at this stage. Product is still making a loss, as sales are low. Stage 3 – Growth The product becomes known in the market: sales should start to increase. Advertising is continued but less frequently than at the launch.
The product should begin to make a profit. Stage4 – Maturity The product is now well established in the market. Promotion will be used to remind the consumer about the product. This is when the product reaches its highest sales and profit levels. At this stage the business may use extension strategies to prolong maturity. Stage 5 – Saturation The market for the product becomes saturated. The only way to increase sales at this stage is to take them from competitors. Promotion strategies are used to do this. Stage 6 – Decline The product begins to lose its competitive edge.
More rival products are introduced into the market. The product has become out of date. Sales begin to fall. Profits also begin to fall. When the product is no longer wanted, it is obsolete. These factors – product, price, place and promotion – are often called the four P’s. The product I will be making to be the new attraction in Chesjet is a rollercoaster called ‘Satan Reborn’, made using the colour scheme of red and blacks. Its unique selling points are that it is the highest rollercoaster, the fastest and had the most loops in the whole of Europe.
There are 3 sets of carts that go around the rollercoaster each time, with each able to hold 20 people. The ride lasts 3 minutes, goes at a speed of 96mph and it will be placed at the back of Chesjet so consumers with have to pass all the other rides to get to it. Speakers will be placed around the rollercoaster to enhance the rider’s screams to make it sound scarier and more exciting to ride. Advertising is the most widely known form of promotion. It is used to inform and persuade customers to buy a business’s product. Businesses can use a variety of different media to get their advertising message across.
Cinema, newspapers, magazines, radio, television, billboards or hoardings, and even public transport are used for advertising. Persuasive advertising goes furthar than just giving information. Advertisements are designed to persuade the public to buy a given product or service. I will be putting advertisements on the radio, television, billboards, cinema, national press and magazines. I would start using my chosen ideas about two weeks before the release of my attraction to get people interested and want to come to Chesjet.
I will be advertising in cinemas as lots of teenagers spend time there. It is a popular destination for younger generations to ‘hang out’. I will use radio and television as the majority of young people use these daily so the advertising will be shown regularly to my target age group. I will use public transport as due to my target audience being teenagers they do not have their own means of transport so usepublic facilitiesa lot of the time. I will use magazines but only one’s aimed at younger people e. g. ‘J17’ or ‘Playstation 2’.