Introduction

Everland is largest theme park in Korea It offers numerous recreational activities including

European Adventure Magic land American Adventure Roller Coasters Everland Speed Way Wild River

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Sea Wave Aquatic center Fortress Bay Slide Zoo-Tropia,

Overview of the Case

Samsung Everland is the pioneer in introducing theme park concept in South Korea, Everland formally Yongin farmland was opened in 1976 Operating profits of the company increased in past few years Number of attendants also increased in past years Primary market comprises of customers who travel about 1 hour drive to Everland, where as secondary market focuses 1-2 hours and tertiary market comprises of those driving more then 2 hour drive Everland introduced a master plan, expansion of everland which include Caribbean bay, Global fair, Safari Tour Everland is often compared to Disneyland by those who have visited both parks Mr.Her (president) was not only committed to the customer satisfaction but one step ahead i.e. delight them

Master Plan: Farmland

Expansion and Up gradation
First Phase investment of US $ 300 Million Introducing
Caribbean Bay water park worth $140m Global Fair worth $85m

Everland

Safari Tour worth $50m

On successful completion of first phase: Second Phase will be launched comprises of devolving Resort Town,

Luxury Hotels, Golf Courses & Resort Accommodation

Service Initiative
Enhancement of services(Win-Win Philosophy)
Cleanliness campaign Service academy
In-house educational center Enhance learning capabilities

Service trainings for other organizations

Nationwide campaign for courtesy & kindness)

Personnel policy (recruitment, education & retraining) Early measurements(Korean Research Group)

Competitors
Lotte World Seoul Land Dream land Children Grand 6 5
Everland Lotte World

Park Seoul Grand Park

4
3
Seoul Land

2 1 0 Everland

Lotte World 1990 1991 1992 1993

Seoul land

StrengthsS Pioneer in Korea Strong parent company Brand, Financially strong Vast premises Orientation towards customer satisfaction SO Strategies Product Development (S2+S3+O2) Market Penetration (S2+S3+O2+O4) Market development (S2+ O1)

Weaknesses W Image in Yongin Quality in service Low employees concern to satisfy customers Accessibility Increased operating expenses WO Strategies Market Penetration

SWOT
Opportunities O New markets Indoor recreational facilities Increasing need of recreational activities in people 22.2% people prefer spending 1day holiday in theme parks

Threats T Strong Competitors Creative and innovative industry

ST Strategies

Focus Strategy (S2,3,4 + T1,2) Innovation (S2,3,4 + T1,2)

WT Strategies

Differentiation Enhance brand image

Porters Five Forces Model

Competitive Rivalry
Intense

Bargaining power of supplier

High

Bargaining power of customer

high

Threat of new entrants

Low

Threat of substitute
medium

PEST Analysis
Political
Economical Social

Technological

Profit declined
1992 1993 %age Change Net Sales 47173 55217 17%

Total Expenses

43817

51987

19%

Operating Profit

3356

3230

(3.75)

*Data in Millions of Korean Won

Recommended Strategies
Theme parks industry is highly technological, and it require innovation and new products with the passage of time, we recommend Product Development for Everland
Everland should provide quality service in order to retain their customers and for this it is advised for Market Penetration

Theme park is a growing industry and Asia is considered to be a highly attractive market, so Everland should go for Market Development
Everland must implement focus strategy in order to increase their quality in service to delight their customers, because Theme parks business is based on returning back customers (those who visit again & again)

Everland should also build a strong R&D department, because successful theme Parks need strong market research to better understand their customers