Strategic Marketing Management Essay Example | Topics and Well Written Essays - 3000 words - 1

Strategic Marketing Management - Essay Example .............................................................. 2.3 Market analysis........................................................................................... 2.4 Competitor analysis.................................................................................... 2.5 Consumer analysis....................................................................................... 2.6 Internal analysis........................................................................................... 2.7 Additional research considerations contributing to analysis................... 3.0 Objectives and strategy............................................................................................ 3.1 Marketing strategy....................................................................................... 3.2 Evaluation of target segments...................................................................... 4.0 Tactics.................................................................. ....................................................... 5.0 Implementation and control...................................................................................... References Appendices Strategic marketing plan: Walt Disney Parks and Resorts "There is no reason to believe that those now at the top will stay there except as they keep abreast in the race of innovation and competition." (Kaplan 1954, p.142). 1.0 Background Walt Disney Parks and Resorts is seeking new opportunities for revenue growth within the amusement park industry that is currently in the maturity stage in Europe and the United States. Companies that operate in very saturated, competitive markets must identify new innovation opportunities to extend the product and service life cycle and avoid consumer market stagnation by not diversifying the products and services offered in the business model. This report identifies a strategic marketing plan for Walt Disney Parks and Resorts encompassing 2014-2016 in orde r to enhance revenue production and build a more powerful competitive brand. In order to achieve this growth, the company should be focusing primarily on the North American market, the market with the most opportunity for long-term growth. 2.0 Situation analysis This section provides a macro and micro-level analysis of the market, review of the amusement park industry, consumer and competitor analyses, and a brief internal analysis of the competencies currently sustained by Walt Disney Parks and Resorts’ organisational model. 2.1 PESTEL analysis The political environment, both domestically and internationally, are relatively favourable for support of amusement park businesses. The United States is a free market economy, one in which there is minimal government regulation of business behaviour which allows firms to develop their own financial strategies and diversification practices to insulate the business from risk. It is a stable, democratic government system with virtually no risk for political upheaval or non-government militant activity. Hence, the United States provides support for business growth and unregulated access to key consumer markets and market information (Appleby 2010). The United States also maintains a very strong economy which is currently in a significant recovery stage stemming from the 2008-2010 global recession. In 2013, the U.S. sustained a gross domestic product of $16.6 trillion, making it the largest single economy in the world (Federal Reserve Bank of St. Louis 2013). The United Stat