Professional Documents
Culture Documents
‘Reverie’ has focused its efforts on the development of a crux for family entertainment center
(FEC) to provide quality family entertainment activities to the communities all over the World,
especially Pakistan.
Entertainment has become a buzzword of the new millennium. David L. Malmuth, senior vice
president of the TrizenHahn Development Corp. has observed, "People are not just interested in
buying things. They want an experience, adding that the keys to providing successful experiences
are authenticity, fun and participation. People have money to spend and will spend it on
entertaining themselves."
Quality family entertainment is the focus of Reverie. The company's proposed FEC will be
designed to provide the type of family entertainment and adventure the current market demands,
which includes 3 major zones, a zone where one can visualize his/her imagination through highly
eqquiped Virtual reality Labs, the other one to carry your Childhood dreams and last but not the
least, a well managed Motel where you can tome your unforgettable experiences.
The first proposed site is a five-acre parcel in Head Balloki, with a second site to follow within five
years.
In addition to other funding and capitalization efforts, the Company anticipates that it will seek
funds from the Government Redevelopment Agency which may assist in the purchasing of land for
development of the proposed sites.
A recent stats conducted by the StatsPAK.GOV found that percentage monthly consumption
among households by commodity groups, from 2008 to 2009 on Recreation and Misc
Entertainment is 14%.
Based on the current entertainment prices and cost of revenue structure in the local amusement
and recreation industries, we believe that our anticipated FEC will have the potential of generating
enough as gross sales in the first year of operations.
With our strong management team and our aggressive marketing plan, we project a consistent and
minimum annual growth of five percent.
Mission
Vision
Core Values
Delight customers
Satisfy their want
Provide great services
Strategic Goals
We have four point strategy to achieve our objectives:
BCG Matrix
SWOT Analysis
Strengths Weaknesses
Internal
SWOT
External
Opportunities Threats
Positive Negative
Strengths
Highly trained workforce
Availability of natural resources
Use of a completely new technology i.e. virtual reality
Weaknesses
Massive investment
Innovation needs acceptance
Requires high promotion budget
Opportunities
Distinction and uniqueness of the service offering
Government support
No competitors yet
Substantial budget prohibits irrational investing competitor
Threats
Security issue
roduct Market Expansion Grid
Diversification
Micro Environment
Macro Environment
Consumer Buying Behaviour
High Low
Involvement Involvement
Significant Variety
Complex
Difference Seeking
s
Few
Dissonance
Habitual
Difference Reducing
s
Segmentation
As we cannot serve each and every person with our service so we fragment the market into various
segments
Psychographic Segmentation
We fragment the market on two psychographic basis
Social Class
i.e.
Social Class as Upper, Upper middle
and Lower middle , Lower class Psychographic
Personality s enthusiastic, cocoons ,
adventurous
Personality
Behavioural Segmentation
We segment market on the basis of 2 behavioural
grounds i.e Benefits
Behaviour
User
Occasion
Benefit of quality and uniqueness
of service
Occasion such as weekends, holidays
and vacations
User Status as ex-user, new user,
regular users
Social Class
Psychographic Personality
Benefit
Behavioural
Occasion
Usage Rate
Our Target Market
We segment our market on the basis of demographic,
psychographic and behavioral segmentation but we are unable to
serve all the segments. So we opt for multiple segments as
our target market to capture. We target enthusiastic
entertainment lovers opting for unique service of
the affluent high and middle income range.
Positioning
Competitive Advantage
Unique Virtual Reality feature of our park
Value Proposition
We differentiate our offered service on the basis of following Specialties
Positioning Strategy
More For More
We provide the most upscale service and promise to reform the concept of fun and
entertainment to a new level.
We charge according to the service we offer and believe that the experience is worth
spending and is much more than mere price.
Positioning Statement
“To enthusiastic entertainment seekers, Reverie is a valley of
amusement that provides one and all with fascinating entertainment
experiences power packed with latest technology.”
Marketing Mix
Product Price
Marketing
Mix
Place Promotion
Product
Service Offering
Our company is initiating the project which is the need as the growing stress taking over the soul
and mind of people depriving them of their family time. To assure their right of entertainment we
are introducing Theme Parks in Pakistan fully loaded with complete instruments i.e. Virtual
Gaming, Fun rides and a wide area to picnic providing a recreational site for the whole family.
Service Attributes
Our company is offering a one of it kind theme park which is characterized by its three fascinating
zones
The Ride-Zone
The I-Zone
The zone of our park which is completely devoted to
the latest technology and technology lovers. It comprises
of employing the technology of virtual reality which
after certain attachments take you to a world you have
ever imagined which is a feature never used by anyone
before.
It can take you to a world you can never reach in reality
and while playing video games. It would make you feel
as if you are the one actually in the game.
The Appy-Zone
Service Classification
As Reverie is a unique combination of distinctive characteristics and a fascinating
experience that our significant group of target segments would agree to make a special effort to visit
and pay for the delightful venture.
Branding
Price
Price is the factor which produces revenues and
accomplish the goal of profits for the company.
Pricing is a very significant and complex phenomenon
for the marketers.
We use the concept of ‘Value Based Pricing’
while initially deciding the criteria to specify the price
ranges and foundation step towards pricing
Pricing Strategy
Market Skimming Pricing
We would be employing the pricing strategy targeting affluent middle and high income
elite families justifying our prices on the following grounds
A considerable percentage of people lie in the specific income span.
The standard of quality and distinct nature of service we offer
The kind of family oriented environment we provide
As, we are in the park business, we will adopt the strategy of Two Part Pricing. Through
this pricing the company will charge the price on two basis
Entry Ticket
Charge per service
Place Selection
Location
The area we have acquired for our entertainment valley “
Reverie” is km away from Lahore. We can access this
area by the route of ‘Multan Road’ approaching The
Head ‘Baloki’. After crossing the head, we reach our
destination.
Place
We have selected the proposed area due to specific
requirements based on the themeof our project. The
qualities of this region which matched our specifications
are
We rely on the quality and service of the products and services required provided by our suppliers
to offer the entertainment experience to our customers that we guarantee.
K
K
K
k
Promotion
Slogan
“ Catch your Dreams”
Promotion Tools
We use an integrated mix of the following promotion tools to endorse REVERIE
Advertising
We will use multiple channels of media to endorse our offering
TV channels
Radio Channels
Newspapers and Magazines
Hoardings and banners in leading malls
Sales Promotion
We have designed many lucrative packages to serve the market attractively
Discounts for students of schools, colleges and universities encouraging trips
Membership options providing the members with great special offers
Public Relations
Personal selling (Initially)
We would be sending our representatives to malls and educational institutes
providing a glimpse of The REVERIE Experience
Direct Marketing
We will track our direct marketing only through our website providing information
and booking services
Promotion Strategy
Pull Promotion Strategy
Our company will employ ‘Pull Promotion Strategy’ by directing all our advertising
and promotion activities towards our final target consumers arousing their keen interest inducing
them to enjoy our offering earliest possible. We have designed our strategy in such a manner to
prove fruitful for the profits.
Budget Strategy
Objective and task Method
Objectives
To build Brand image
To initialize the awareness among innovators and early majority
To make people aware of our service
To arouse interest in the target market
To urge our target market to visit the place and visit frequently
Tasks
Stressing brand differences and benefits
Advertising and promoting reverie through multiple channels
Endorse Reverie at multiple locations among the target groups by holding
presentations and seminars
Providing such an experience that it converts the consumer into promoter(Buzz
Marketing)
Designing the promotion into an effective bullet hitting the market
Providing incentive packages and membership offers
Cost
Partial View of Promotion Budget
1st Part :
Brief Introduction and Image Building
Necessary to build an image in the mind of consumers from unknown to complete brand. It
requires a little longer to build a brand image of a new service in a gradual process to create a
strong relation of service to the consumers. It consists of slow advertising within a moderate range
2nd Part:
Persuading target market
After the image building process, the advertising takes a turn and transforms into heavy flow
marketing in order to persuade the consumers to match their need of entertainment with our
phenomenal offering and attract them hard enough to visit and visit frequently
3rd Part:
Regular Light Promotion
After the complete take over of consumer minds, we reduce our promotion budget and cut down
the advertisement frequency form affluent to regular promotion.
Advertising Budget
TV Channels Radio Magazines Hoard Internet
ings
1st Sec 30 1 page
Part Times 26
/day
Times 780 16
/month
$ 19800 3600
Month
Total
Feedback
Analysis of Marketing Plan
Sales