The Ocean Park Story - (Part 2)

I.                 Results of the Situation Analysis and how to address it

Ocean Park had gone through 3 consecutive years of stagnant attendance (from 1997 to 2000), which resulted in lower revenues and annual losses.  Its financial condition was teetering on dire straits, with losses mounting rapidly.   A new management team was recruited, which included me, and it was imperative that the financial status improve as soon as possible.  Though the park is owned by the Hong Kong government and has non-profit status (an accounting term), it had to be self-sufficient.  It received no subsidies and should not depend on financial support from the government.   It had never been a burden to the government and taxpayers, and this new team was determined to not only maintain this status but return the park to success and rebuild its cash surplus.  It was a tall order, but a challenge met overwhelmingly by the new management team.

The results of the situation analysis were not surprising at all and revealed a number of concerns.      

1.      Ocean Park Image – Weak and confusing in the marketplace

2.     Considered to be “Old” and “Tired” – Desperate in need of improvement

3.     Nothing New

4.     “Have not been there for many years, no REASON to go”

5.     “Nothing there for me, not worth the money”

6.     No noise from the park (no promotions, sales, advertising, publicity)

7.     Friends have no interest in going – how many people go to places their friends don’t go

8.     Not a “cool” place to hang out – ashamed to be seen there.  How many people go to places that are not cool?

9.     No Thrills, No Fun – how many people go to places that are not FUN?

The list was much longer, but these were enough to get started.   With this, some initial strategies were defined and clearly stated.

1.     Must CHANGE the image of the park.   If it had an image, it was not appropriate.  It was essential to develop a new image that represented the park correctly and would drive attendance and repeat visitation.

2.     Create and Manage BRANDING.  Create a Brand, promote the Brand, and gain support for the Brand.

3.     Be regarded as “NEW” and not Old and Tired

4.     Give people a REASON to visit Ocean Park – People buy because they have a reason to buy and no reason not to buy.

5.     Promote the Park, create and develop sales and marketing communications, promotions, and publicity to reach the public

6.     Market AGGRESSIVELY, be HUNGRY for business, do not be shy and timid

7.     Make it a “Cool” place to hang out

8.     Add Thrills and lots of FUN

Essentially, change the image of the park and its perception by consumers.  Their perceptions were very clear and very negative in the situation analysis.