Work: Economic Growth and Theme Park Essay

Published: 2019-11-05 19:20:08
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Category: Economics

Type of paper: Essay

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It was a challenge for me to work on this project, because it is a learning process for me that how, I could tackle this question therefore I collected primary and secondary data for my project and try my best to analyze the whole situation and produce a good Peace of work. I gather information about Theme parks called Alton tower. After getting the brief knowledge about this theme park and their strength and weaknesses, through assess to Alton tower website.

With the help of some good secondary data such as different website and books sources. I used some marketing strategies such as segmentation which is used to target different types of consumers and it will help to find out how this theme park can do something new among other competitor further I did a pest analyses , created a good pricing strategies which will help this theme parks to do long term planning and allow them to face different threats and problems in a defendable way .

Political factor effect very much because Government changes frequently and every Government makes it own policy, which cancel or postponed the previous policies and new policies are implemented, which start their work from zero point and all the previous work and policies result fruitless. Such as theme park might have problems in pricing strategies , if Taxes increasing , expensive increasing , timing factor etc so due to this it can influence the theme park negatively . On other hand if government policies are in the favor of business sector so might be possible that it will help Alton.

Tower and they can earn more profit margins ,Such as recently UK government has reduce the VAT value added tax which will increase the demand of costumers coming towards theme parks more so this show that its a good step taken by government in favor of business sector. .Government Development When it comes to development so government some time can play a vital role in improving the society standard such as government can give funds to theme parks or provide good facilities for people who comes over there for enjoyments such built sitting area , emergency help desk , locater and maps of London in theme parks for tourists .

Environmental protection and regulation To protect the environment government always force the theme park management to be stick on this issue and aware there costumers to follow the regulation such as left eating items , garbic , should be through in dustbins and whole theme park should be Cover up by dustbins .

Cars should be not allowed in theme parks they should have separate parking yard due to pollution which is spoiling the environment . Government should put billboards of Environmental protection and regulation on entrance of theme parks to aware people. Contract enforcing law over costumers safety. In this factor government will always try their best to make sure that theme parks are having good safety precaution for costumers and whole theme parks is fully covered by CCTV so that they can defend in good way against any dangerous situation .

Economical Inflation In this factor if the price increase over all the UK and there is high amount of inflation in country so this will affect the theme park , because there will be a decrease in public spending due to inflation . further if inflation is rising so there will be increase in cost of theme parks such as expenses will rise up , therefore theme park will have no other option left and they will increase their tickets price also .

Economic development If the Alton theme parks does a good business ever year such as many people or tourist love to come to UK for enjoyment and in this case Alton theme park Is a good example of entertainment and many people would like to visit it due to this it will have a positive impact over economic conditions of UK, such as there will be increase in GDP , Globalization will increase and there will be a big boom in tourist industry . Employment.

Alton theme park is place which is full of entertainment and in this case many people want to visit it in different seasons such as summer vacations is a good season in which theme parks are fully crowded . To handle that demand of people Alton theme park will need workers in their organization every year . Theme park can play a vital role in seasonal employment which is good for economic growth because unemployment will be reduced. Mac Gee (2004) Pg 415, (themeparks UK, 2008), titley, b. pg 378 (1993). Social Life style changes.

When we talk about life style so now days different people have different life style . According to people they want something new in life so therefore they decide to have some good vacations or holidays so that they can stay relax for some time in such busy world , so theme park like Alton can play a vital role in changing life style of people this theme park can allow people to stay relax and have peace in their life such as it has good atmosphere , hotel nice fun place for family and couples .

Population and age population and growth rate is a very important factor which can influence any business in a positive or negative way and when it comes to theme park like Alton tower , they need costumers so that they can have good business growth and UK has a good population which is helpful to this theme park and in this population theme parks are more attractive towards kids around 10 to 15 or teen agers so this will help Alton theme parks to do segmentation of people who can be interested in theme parks and then they can target generation X (10-16 ) and Y (16 20 ) .more .

Living conditions This is factor which Alton theme park should focus more because this theme parks have hotel arrangements for costumers therefore they have to be perfect in keeping good Quaintly standard living conditions so that customers are satisfied in a good way and once costumers are happy form there services this will help to improve theme parks image and good growth in sales what is pest analysis. (2008).

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