According to a presentation made by SAS, to maximize the returns on the investment in growth, The Walt Disney Company will need to be certain of the following in regards to marketing the new attractions:
- Reach the right audience
- Utilize the correct channels
- Advertise at the right time
- Sell the product at the right price.
The rising cost of operations and expanded guest offerings have been responsible for yearly increases in ticket prices. The company has invested a large amount of money into the technology advancements in the parks. The development of the magic band and the complete RFID solution cost in excess of $1 Billion dollars. Some of these costs can be offset by a n increase in ticket and special event prices. The image below displays the change in ticket price from 1971 to today vs the rate of inflation:
A 10 percent increase in gate price would be justified at this time to offset the cost on the additions and to generate additional revenue. In addition, big data and web mining should be utilized to generate insights into customer impressions and marketing success rate.
Star Wars and Avatar will bring in guest from near and far and create demand for merchandise in all forms from clothing to toys and collectibles. This licensed merchandise is ideal for global mass marketing as the Lucas Film Star Wars brand is extremely popular throughout the world. Utilizing this popularity, Disney can expand to untouched markets and create new and high quality products such as realistic robots representing the characters from the film. These high end products will generate a large amount of sales meanwhile exposing the guests to other products as well.
Beforeitsnews.com (2015). Shocking Disney World Price Inflation. Retrieved September 20, 2015, from http://beforeitsnews.com/economy/2015/02/shocking-disney-world-price-inflation-2704208.html
Vivastream. (2012). Disney Marketing ROI Case Study DMA Conference. Retrieved September 19, 2015, from: http://www.slideshare.net/vivastream/disney-marketinganalyticsoptimization-14907727