Business
Business Report
EXECUTIVE SUMMARY
Taronga Zoo is acknowledged as one of the world’s leading Zoological Parks. This report is for the Board of Directors of ABC in relation to the corporate sponsorship of Taronga Zoo Conservation Society Australia, and will provide an analysis of the zoo’s marketing plan. It will also evaluate the marketing potential of the proposed sponsorship for ABC.
1. SITUATIONAL ANALYSIS
1.1 MARKET ANALYSIS
Taronga Zoo is classified as a place of entertainment, and given that is in amongst a number of different places for entertainment in Sydney, the zoo has many tough competitors. Internal factors that directly affect the operations of the zoo include adequate staffing, facilities available and financial stability. External factors that impact the zoo include transport, economic conditions, the strength of the Australian dollar, weather conditions, school holidays, competitors and the aging population.
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1.2 SWOT ANALYSIS
Taronga Zoos strengths include spectacular views of Sydney Harbour, a collection of over 2600 animals, as well as being the winner of the 2010 NSW Tourism Award. Weaknesses are visitors’ expectations to see animals constantly in action and increased competition from similar businesses. Opportunities include the closure of Wonderland in 2004, which was a major competitor. Threats include increased competition, which occurs when big companies buy multiple smaller companies and sell budget tickets.
2. ESTABLISHING MARKET OBJECTIVES
The main objectives of Taronga Zoo include increasing customer loyalty, as well as making sure visitors are aware of the conservation efforts that the zoo enforces. At current, visitor numbers to the zoo peak during periods of new animal births, which is something Taronga Zoo is trying to change by promoting the zoo as an animal conservation centre, rather than just a place to seek entertainment.
3. IDENTIFYING TARGET MARKET
Taronga Zoos target market has been segmented into
EXECUTIVE SUMMARY
Taronga Zoo is acknowledged as one of the world’s leading Zoological Parks. This report is for the Board of Directors of ABC in relation to the corporate sponsorship of Taronga Zoo Conservation Society Australia, and will provide an analysis of the zoo’s marketing plan. It will also evaluate the marketing potential of the proposed sponsorship for ABC.
1. SITUATIONAL ANALYSIS
1.1 MARKET ANALYSIS
Taronga Zoo is classified as a place of entertainment, and given that is in amongst a number of different places for entertainment in Sydney, the zoo has many tough competitors. Internal factors that directly affect the operations of the zoo include adequate staffing, facilities available and financial stability. External factors that impact the zoo include transport, economic conditions, the strength of the Australian dollar, weather conditions, school holidays, competitors and the aging population.
***
1.2 SWOT ANALYSIS
Taronga Zoos strengths include spectacular views of Sydney Harbour, a collection of over 2600 animals, as well as being the winner of the 2010 NSW Tourism Award. Weaknesses are visitors’ expectations to see animals constantly in action and increased competition from similar businesses. Opportunities include the closure of Wonderland in 2004, which was a major competitor. Threats include increased competition, which occurs when big companies buy multiple smaller companies and sell budget tickets.
2. ESTABLISHING MARKET OBJECTIVES
The main objectives of Taronga Zoo include increasing customer loyalty, as well as making sure visitors are aware of the conservation efforts that the zoo enforces. At current, visitor numbers to the zoo peak during periods of new animal births, which is something Taronga Zoo is trying to change by promoting the zoo as an animal conservation centre, rather than just a place to seek entertainment.
3. IDENTIFYING TARGET MARKET
Taronga Zoos target market has been segmented into