Samsung and theme park in Korea Essay

2786 Words Sep 26th, 2013 12 Pages
Name: Su Han
Program: M2 Luxury Management Food&Wine
Title of the case: Samsung and theme park industry in Korea

1) “Is the Global theme parks industry an interesting industry to be in?”
a) Rivalry among existing competitors

Is the industry growing rapidly?
Yes,because of the increasingly fierce competition and the maturity of the market.

Do the 4 biggest players have together more than 80% of market share?
Yes, because 4 biggest players which are The Walt Disney Company,Time Warner’s Six Flags Corporation, Paramount, Anheuser Busch and Cedar Fair have together more than 80% of market share.

Diversity of competitors
Are competitors all of approximately the same size?
No,because it depends on the land
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Governmental and legal barriers
Are there any license, insurance of qualification which are difficult to obtain?
Yes, because the licence and insurance of qualification are all difficult to obtain, because government regulations were quite strict because of the extensive land use and security. Licensing requirements and methods of ascertaining operational expertise to ensure visitors’ safety varied from country to country.

Can a newcomer expect strong retaliation on entering the market?
Yes, because the insurance premiums were extremely high in some parts of the world. Given the likelihood of accidents in the amusement parks and the possibility of serious injury, 100 per cent insurance coverage was a must in the industry.

c) Threat of substitutes

Has the customer no real substitutes?
No, there are Various substitutes for customers : other modes of entertainment

Propensity/willingness of buyers to substitutes
Is the customer unlikely to substitute?
No, customers can easily substitute, because they want to try something new, something different, cheaper, safer, better or more convenient.

Will the customer incur costs in switching to a substitute?
Yes, because they meet more complex needs. Free admission parks and beaches, camping trips, or even video-movies at home were competing options for leisure time. It means if customers have enough leisure time

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