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Market research for Six Flags theme parks co.

Extracts from this essay...

Introduction

Anas Chokairy Understanding markets BM1 SIST/UWIC Marketing research 1.Introduction: Amusement & theme parks are important participants in the tourism industry, they play a special role in generating tourism demand, and they are the main motivators for tourism trips to many destinations. Competition in the theme parks market is growing with the increasing number of parks. In some areas amusement parks market seems to be reaching to saturation point whereas in different areas there is still work to be done. The Moroccan market has not been intruded with any sort of amusement parks that specialize in the tourism sector, so it would be safe to say that there is a good gap of opportunities in that domain, however any investing company has to conduct a market research before deciding to come and invest in Morocco, and that will be the task of this report, through explaining the factors of market research, the necessary explanation and statistics to why it would be a very profitable idea to start an amusement park in morocco will be provided, in fact the amusement park company I will be trying to attract is named Six Flags and it's one of the largest and growing amusement park corporations in the world.

Middle

a carefully selected sample will allow us to draw relevant information about our targets, Choosing a sample is choosing a sampling unit (choosing which segment is to be surveyed) and a sampling size (choosing the number of people to be surveyed), There are two methods of sampling, one that provides quantitative data and other qualitative data(Philip Kotler, 2005). Quantitative methods (e.g. surveys, questionnaires) big sampling size. Qualitative methods (e.g. focus group and interviews)small sampling size, They provide a more in depth and rich description. (Quantitative and Qualitative Data ). After a little research with came up with the following informations: Age: 18-24 20.20% 25-34 25.80% 35-44 28.50% 45-54 14.80% 55-64 5.60% 65+ 5.10% SEX: Male 45.30% Female 54.70% (RAB Instant Background Report, 2003) In Our case here, our sampling unit would simply study the segment that consist of tourists between the age of 18 and 45 because these are the people that after the secondary data are still willing to get active and have fun at a theme park full of breathtaking roller coasters, as for the sampling size it would be something between 1000- to 1500.

Conclusion

Referencing LITERATURES: Anthony R Morden, (1989) Elements of Marketing. 1st Ed.London. DP publications) Armstrong, Gary & Kotler, Philip (2005) Marketing: An introduction. 7. Edition Upper Saddle River, N.J, Prentice Hall. Dibb, Sally and Simkin, Lyndon (1996) The market segmentation workbook: Target marketing for marketing managers. London, Routledge. Len Tiu wright & Margaret Crimp (2000), The Marketing Research Process, fifth edition. Pearson Education Limited Cohen, L., Manion, L. and Morrison, K. (2000) Research Methods in Education 5th Edition. London: RoutledgeFalmer. Kahn, R. and Cannell, C. 1957 The Dynamics of Interviewing. New York, Wiley. Philip kotler & Gary Armstrong (2005) Principle of marketing. 11. Edition, Prentice Hall. Philip Kotler, Gary Armstrong, (1996) Principles of Marketing. 7th Ed. Prentice Hall Inc. SITES: Marketing research: Secondary data [Internet], Available from: < http://www.managementstudyguide.com/secondary_data.htm> [Accessed 16April 2011]. Market research - primary research [Internet], Available from: < http://tutor2u.net/business/gcse/marketing_research_primary.htm> [Accessed 25April 2011]. MOROCCO'S TOURISM INDUSTYRY RECORDED GROWTH IN 2009 [Internet], Available from: < http://www.tourism-review.com/moroccos-tourism-industry-recorded-growth-in-2009--news2084> [Accessed 2 May 2011]. Quantitative and Qualitative Data [Internet], Available from: < http://www.holah.karoo.net/quantitativequalitative.htm > [Accessed 20April 2011]. RAB Instant Background Report [Internet], Available from: < http://www.rab.com/sales_meetings/amusement.pdf > [Accessed 5 May 2011]. .

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