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Report Hospitality Business Solutions (44-604544-AF) Year 2017 – 2018 Level 6 Student Name Chan Wai Yan English Name Whitney SHU ID 27036708 VTC ID 177016690 Local Tutor Mr. Ricky Chan SHU Module leader Mr. Richard Telling (Word 3682) Executive Summary In this assessment, I will propose the suggestion of solution to Ocean Park regarding the analysed problem. Then, the solution will be analysed and evaluated. Finally, I will choose the most suitable solution to Ocean Park. Report Contents TOC o 1-3 h z u HYPERLINK l _Toc501358373 1 A brief description of the organisation PAGEREF _Toc501358373 h 3 HYPERLINK l _Toc501358374 2 Analysis of the problem PAGEREF _Toc501358374 h 6 HYPERLINK l _Toc501358375 3 The process PAGEREF _Toc501358375 h 9 HYPERLINK l _Toc501358376 4 Detailed solution PAGEREF _Toc501358376 h 10 HYPERLINK l _Toc501358377 5 Evaluation of solution PAGEREF _Toc501358377 h 14 HYPERLINK l _Toc501358378 6 Conclusion PAGEREF _Toc501358378 h 18 HYPERLINK l _Toc501358379 7 Reflective response to Business Solutions Exhibition PAGEREF _Toc501358379 h 19 HYPERLINK l _Toc501358380 8 References PAGEREF _Toc501358380 h 21 HYPERLINK l _Toc501358381 9 Appendix PAGEREF _Toc501358381 h 24 A brief description of the organisation Ocean Park Hong Kong (OPHK), the Hong Kongs premier educational theme park, has established since January 1977. It is operated by the Ocean Park Corporation, a not-for-profit organization (Ocean Park, 2017). OPHK aims to be the worlds best theme park resort through providing unique elements of entertainment, education and conservation (Ocean Park, 2017). However, according to appendix 1 the revenue for the year is significantly decreased from 2012 to 2017. 1.1) Service Concept Ocean Park Corporation is strived to providing all guests with unforgettable experiences with fun, entertainment and education at an affordable price, while promoting lifelong learning and conservation advocacy. 1.2) Business model Ocean Park mainly provides thrill rides, animals and education programmes. They target at local and mainland China visitors. The park creates value proposition from SmartFun Annual Pass (Ocean Park, 2017)., Ocean Fastrack, and Partner hotel vacation packages (Ocean Park, 2017).. To maintain the customer relationship, Ocean Park promotes membership to customers. Ocean Park has various distribution channels, including official website, 7-Eleven HK, MTR tourist services center, travel agents. For the revenue streams, it is mainly generated from ticket selling, merchandise selling and catering income. 1.3) Positioning Map Referring to appendix 1 shows that the choice of facilities of OPHK is limited than Shanghai Disneyland Resort, but their price are similar. Shanghai Disneyland Resort ticket price is 370 CNY and OPHK ticket price is 438 HKD. 1.4) PESTLE Analysis For the social factor, awareness of environmental protection has been raised. More citizen and business pay attention to conservation and environmental protection. For technological factor, there are some advanced technology development in these few years. For examples, VR AR technology is implemented for some theme parks. Technology become more user friendly. 1.5) SWOT analysis OPHK emphasis on education and conservation which aims to create a positive and unique image to the citizen. Moreover, OPHK collaborates with leading brands and characters establish a new theme to provide visitors a new experience. The revenue decrease from 2013 to 2016 affect the surplus of OPHK. The funds for expansion and development will decrease. 1.6) Five forces analysis Threat of Entry- Low The barriers to entry the theme park industry is high. Huge investment costs are required for developing the business. By estimation, the initial capital of constructing a theme park is ranging from 50million to 3 billion (Conklin, 2006). Threat of Substitutes- High There are many alternatives in Hong Kong, including Hong Kong Disneyland and Noahs Ark. These tourist attractions offer similar products as OPHK. Bargaining power of buyers- High First, buyers have a higher degree of choice. As Hong Kong has many tourist spots to replace Ocean Park, the switching cost is low. Moreover, buyers can visit other theme parks outside Hong Kong. Bargaining power of suppliers- Medium For ride manufacturers, constructors, and maintenance technicians, their bargaining power is quite high since they provide a specialist, whereas some suppliers have bargaining power because of the low switching costs, such as caterer, wholesales. Rivalry- High The level of competitions between local theme park is low. However, there are lots of competitors in Asia, such as Chimelong, Universal Studios Singapore, and Everland. Second, the exit barriers are high for amusement park due to the relatively high fixed costs (Clave, 2007, P.388). Analysis of the problem According to the annual reports of OPHK, the surplus for the year is significantly decreased from 2013 to 2016, even had a deficit of HK241.1 million in 2016. Here are a few reasons 2.1) One trip per week The One trip per week policy caused the mainland China visit to Hong Kong decrease 8.6 in last year (Sing Tao News, 2016). Over the past two years, HKOP accounts for 50 of Mainland China (HKFP, 2016), which indirectly affect the visitor numbers of Ocean Park, as one of the main attraction in Hong Kong. 2.2) Demonstration Hong Kong has many public processes and violence happens. Such as Umbrella Revolution. This event not only affect the Hong Kong s image and reputation. Also, it affects the visitors of Ocean Park, especially mainland china visitors 2.3) The number of visitors from Mainland China fall From the market summary published in July 2017 provided by HKTB, the total number of visitors from China had a drop of 6.7 to 42,778 ten million arrivals in 2016. Mainland China, as the leading source of visitors to Hong Kong and OPHK, will have a significant impact on the income of Ocean Park once the Mainland tourists fell sharply (PartnerNet, 2017). 2.4) Operating costs rise From the OPHK annual report, it shows that the total cost of 2016 increased by 4.7 compared to 2015. As for the rise in prices and OPHK is developing their plans in new areas and the costs will increase, which may result in decreased profits. The process Profit loss is the main problem of OPHK. In order to resolve these problems, six solutions will be recommended. However, SFA model would be used to analyse and evaluate the most suitable solution for OPHK. 3.1 Problem Tree SHAPE MERGEFORMAT 3.2 Solution Tree Detailed solution To solve the problems that we found in Hong Kong Ocean Park, it is necessary to implement some useful and effective solutions. So, I would like to give some solutions of fixing profit decline. The key direction is to retain Ocean Parks customers by various ways such as increasing customer satisfaction and customer loyalty. Customer is an essential part of Ocean Park, which involves the effectiveness of income, brand and reputation. Customer satisfaction and customer loyalty with high level are strong predictors to customer retention and product repurchase. As a theme park, it is necessary to provide the services with an unforgettable and more than expected experience to the customers. Customers are looking for clues in the experience to determine the quality of the service when they assess what they cannot see or understand (Berry et al., 2004). Shaw and Ivens (2002) believe that the customer experience may provide a new means of competition. In addition, customer satisfaction and customer loyalty are also affected. The customer service in the Ocean Park will involve the employees and the products. 4.1) Implement customer research with survey in the online The survey which includes advice and complaint from the customers just likes a gift to all the organizations improvement, however, there are many businesses in the 21st century just only focusing on the need to deliver an excellent customer experience (Cook, 2012). They do not welcome the complaints which is useful for their improvement and also is the opportunities to return their customers to a state of satisfaction. It is recommended that Ocean Park can build the customers relationship with survey in the online. It includes the questions of the product and services such as the quality, value, purchase and usage experience as well as purchase service in the Ocean Park. In addition, their expected and prefer experiences of the product and service are required. As a result, the online will also provide recommendation to customers according to their preference services and products, so that they can easily enjoy the restaurants, gift shops and facilities. It is encouraged the organization using survey to do the customer research with their emotive statements. Johnston and Kong (2011) state that the customer research as survey is helpful to organization better to understand the experiences and emotions that the customers expected from service providers, and also the relative importance of each of them. Customer research is helpful to Ocean Park to know the needs and wants of the customers. To attract customers to participate in the survey in the online, customers can get 10 discount reward in completing the survey. In order to avoid any dishonest or random reply from the customer, Ocean Park need to review the survey whether it is effective to Ocean Park, and then offer a 10 discount park ticket to those customers via email for the next time they visit the park. Customers will be encouraged to offer effective advice, answer or compliant for the improvement of Ocean Park. Since there are many customers just leaving when they are not satisfied with the service or product since they often do not know how to complain, they cannot be disturbed, they are too afraid, or they do not believe it will be different (Clay, n.d.). Therefore, implementing the survey is a benefit to both customer and Ocean Park. It is helpful to Ocean Park for building the customers relationship by increasing their loyalty and satisfaction, and also making a decision of marketing against collected research. 4.2) Restaurant and gift shop cashback reward program There are many banks in Hong Kong offering generous cashback rewards to attract more customers such as American Express, DBS, Citibank and HSBC. The cashbacks reward program is an incentive plan which can earn a percentage when the customers use their cards to spend, and also provides the cardholder cash back opportunity (Staff, n.d, Cash Back). The cardholder must achieve a certain amount of consumption in exchange for cash or other benefits. For the survey which was conducted by the Stanford including the reasons why customers join loyalty programs, and the products and services are frequently used, discounts and special membership allowances are the top of the list (Anonymous, 2003). In addition, some airlines are implementing a cashback reward program to provide and exchange free products according to the customers accumulated air mileages. Ocean Park can implement the cashback reward program in the restaurant and gift shop. When the customers achieve the required amount of consumption in the restaurant and gift shop, they can get more discount or cash back reward. For example, when the customers consume at 250, they can get discount or cashback in the restaurant and gift shop. This is an attractive incentive to encourage customer consumption to meet the goal, and Ocean Park can also reward stall game tickets, which can not only promote game stalls, but also increase customer demand for game stalls. The incentive reward regarding the customer spending will increase the customer satisfaction since this gives more opportunities to get more shopping experience at better pricing. It also increases the chances of retaining customers since they will use coupons or share their coupons to their friends or family. 4.3) Renting nostalgic clothes in Old Hong Kong attractions In the Hong Kong Disneyland, they have a Disney Princess Make-up and Photo Shooting Service which offer to the 3 to 12 years of age girls to be their favourite Disney Princess. This service offers make-up, Disney Princess costume and accessories for girls to choose. Also, they can take photo with their favourite princess at Princess greeting. Disney focuses on creating personalized experiences and integrates their customers into the theme parks atmosphere. Therefore, Ocean Park can implement same service such as renting nostalgic clothes in Old Hong Kong attractions. Old Hong Kong has attractions with nostalgia of Hongkong from 50s to 70s, including the Heritage Tram, traditional port snacks, the nostalgic atmosphere of the old street and store, to give a photo-friendly area to the customers to feel the old Hongkong generation. Ocean Park can rent the 50s to 70s nostalgic clothes to the customers for them to integrate those generations atmosphere. This service allows the customer to choose their favourite nostalgic clothes, also the make-up and accessories. Hong Kong Disneyland provides the same service for girls aged 3 to 12. However, the renting service in Ocean Park applies to all age groups, and even to either sex of customers. In addition, it is attractive to local and foreign customers since they can feel the Hong Kong culture with wearing the personalized nostalgic clothes. This service also increases and promotes the culture and knowledge of Hong Kong to different country customers. In addition to the experiences in the ocean theme park, the customers also have experiences in the Old Hong Kong attractions. Nowadays, the customers are focusing mostly on personalized and customized experiences, it is an effective way to retain more customers, increase customer loyalty and satisfaction by providing these experiences. Evaluation of solution Different solutions to solve the decreased profit in Ocean Park are already listed. To evaluate these solutions, I will classify the solutions with short-term and long-term, and do the analysis based on the feasibility, acceptability and suitability. After the analysis, I will choose the most appropriate solution to the Ocean Park. 5.1) Implement customer research with survey in the online It is a short-term solution of implementing customer research with survey. It will be implemented in online for two months in each year. In the suitability of this solution, the progress of the times and the continuous development of science and technology are advances for the Ocean Park to contact and build relationship with customers. Besides, some companies are preferring the customers telling what they are interested in rather than selling to them to cater to the customers. As a result, these companies will promote and sell their products to the customers according to their personal preferences. Aquino (2012) states that consumers are increasingly interested in personalized shopping experiences as technology advances, also they are willing to share details about themselves in order to teach their favourite brands how, when and where to approach them. It shows that the customers are willing to share their details of personal preferences to the company with some survey to look forward to more targeted and smarter shopping experiences. However, it may involve legal issues such as consumer privacy, as these surveys collect information about customers privacy. More customer information can help Ocean Park find the exact needs of their customers. Although this solution is helpful in customer research, the system of customer information manage need to be more stable and security. In the feasibility of this solution, the survey implemented in the online will enhance the cost such as the promotion, development, maintenance and training. To encourage the customers to participate and offer comprehensive survey, the promotion technology and training cost are required. Therefore, marketing staffs workload will be increased such as more training like tracking, reporting and analysing the collected data in two months. They need to develop regular reports and address key strategic regarding the results. Besides, the information technology employees need to maintain the security of the survey system to avoid legal issues such as disclosure of consumer privacy. However, this survey is a short-term solution, more trainings to the marketing and information technology employees can implement this solution. In the acceptability of this solution, the financial of this solution involves the discount to attract the customers to participate. It is the participation to do customer research and build the relationship with customers, however, this is unstable, and it is not guaranteed that the guests reaction will contribute to the financial return. Besides, the information technology and marketing employees may be dissatisfied since the workload are increased. 5.2) Restaurant and gift shop cashback reward program It is a long-term solution of implementing the cashback reward program for 2 years. In the suitability of this solution, as I mentioned before in detailed solution, discount is the first in the customer loyalty list. This solution is suitable to Ocean Park since the incentive of cashback rewards in the world is very popular now. Customers are willing to spend more to earn more shopping experiences and opportunities such as cash back. In the feasibility of this solution, implementing the cashback reward program requires the discount and coupon which does not increase the cost but also helps to increase income. On the other hand, the existing employees and management need knowledge and skills such as the required amount and benefit of the cashback reward program as well as how to promote and persuade customers to enjoy the cashback in an encouraging tone. Besides, the cashback program was not carried out at the Hong Kong Disneyland, which can increase the Ocean Parks competition. In the acceptability of this solution, it is financial return acceptable since this programme forces customers to spend required amount and then get their unexpected discounts. The revenue will be increased. Also, the value of the discount or coupon can be offset by the consumed amount. This is not only beneficial to increase customer value and gain more, but also to increase the income of Ocean Park. Thus, the stakeholders such as employees, who may not cooperate since they need to serve customers with additional requirements, to promote the cashback program. 5.3) Renting nostalgic clothes in Old Hong Kong attractions It is a long-term solution of renting nostalgic clothes in Old Hong Kong attractions for 1 years. In the suitability of this solution, the social culture of the people of Hongkong begins to pay attention to their history, culture and collective memory. Especially the old people who have been living through the hard days of 60s, and enjoying the benefits of the 70s to 80s economic take-off and the prosperity of Hongkong. Different experiences arouse as Hongkong peoples yearning for the past. In addition, it is attractive to foreign customers because they like to travel in an exotic atmosphere with cultural exchanges. McKercher and du Cros (2002) state that cultural attractions make the asset coming alive and provides a sense of authenticity and allows guests to experience participation. As a result, nostalgic clothes rented in the Old Hong Kong attractions can be compatible with social culture to provide customers with past cultural activities, and make the customers fantasies a reality. In the feasibility of this solution, the activities of renting nostalgic clothing will increase the cost of clothing props and promotion techniques. It may need many nostalgic props to reach a large number of tourists every day. Thus, online advertising of promotion techniques is needed to attract customers interest in this scenic spot. Secondly, there will be training to provide the existing staff with the knowledge and skills they need such as the cultural information, nostalgia actors and photo service. Those actions will increase the cost. In the acceptability of this solution, it involves a certain degree of cost to achieve, in a short period of time the consumption of customers may not be greatly increased. Financial returns can be volatile and slow. The stakeholder such as the shareholder may not support since this solution may not have stable revenue since the trend of further externally nostalgia is unstable. Conclusion To conclude, I would like to choose the most appropriate solution as implementing the restaurant and gift shop cashback reward program to solve the decreased profit. Regarding another solution, they have an unstable income opportunity, cannot have immediately financial return, and also involve investment cost. However, restaurant and gift shop cashback reward program is the most suitable. Firstly, this solution can increase the customer satisfaction and loyalty since they can spend more to obtain unexpected product and services, also can increase their retaining park opportunity. Secondly, it is feasible that will not increase a huge cost for implement. Finally, this solution can improve the profit of Ocean Park with increased customer satisfaction and loyalty. Reflective response to Business Solutions Exhibition In the exhibition session, I have presented that when the customer completes the questionnaire, they can get 10 discount. Regarding the comments of customer retention solutions received in the QA session and exhibition, I agree the point that the discount may not always work as good as I expected. It is because the customers may always want to get a discount instead of a real cooperative participation. Also, the 10 discount is not the most attract incentive to increase the customer satisfaction. As a result, I have changed the way in which 10 discounts is given in the use of online surveys. The online survey like according the customer preference to recommend the services and products can increase the customer value. In addition to get a 10 discount, customers also can enjoy this personalized service. As a result, they may be willing to participate in the survey. For the restaurant cash back program, I did not present as well to evaluate the effectiveness to solve the problem. Moreover, I suggested that Ocean Park that using the consumption point to record the customer consumed amount will be more complicated and not suitable to solve the problem of Ocean Park. Using the point will enhance the need of technology and cost such as the system needs to record each customer consumption information, and needs to offer a card to each customer. After deep thinking, my understanding is that consumption points are suitable for frequent consumption of products and services such as 7-11. But customer spending in Ocean Park is not often because it is not a necessary product and service. Therefore, I decided to use the cashback or discount instead the consumption point. If the customer reaches the required amount of consumption, it can be rewarded directly without any recording technology. To reflect my own thought about this Hospitality Business Solutions assessment, it is contributed to my business knowledge of how to create the solution against the problem. In todays competitive environment, competitors have more and more strategies to gain and enter different market. For the Ocean Park, it is hard to build the solution focusing on increase the customer satisfaction and loyalty since there are so many strategies used in the competitor companies. The solution needs to be beneficial in increasing competition, reducing costs and sustaining profits. It is necessary to build more effective and attractive strategies than competitors. Besides, the comment received at the business solution exhibition which is affecting me to rethink the effectiveness of the solution in all aspects. The business solution exhibition is required to hold since the lectures can give a directly comment, conductive to rethink whether it reduces costs and creates profits in Ocean Park. Also, creating team members in the solution can learn more aspects of the solution, more focus on my own direction to avoid repeating. Finally, this module can not only solve practical problems independently, but also can analyse specific intelligent discourse independently. References Johnston, R., Kong, X. (2011). The customer experience A road-map for improvement. Managing Service Quality An International Journal, 21(1), 5-24. Berry, L.L., Parker, D., Coile, R.C., Hamilton, D.K., ONeill, D.D. and Sadler, B.L. (2004), The business case for better buildings, Frontiers of Health Services Management, Vol. 21 No. 1, pp. 3-24. Cook, S. (2012). Complaint management excellence Creating customer loyalty through service recovery. London Kogan Page. Shaw, C., Ivens, J. (2002). Building great customer experiences. Basingstoke Palgrave Macmillan. Clay, R. (n.d.). 20 Customer Retention Strategies -. online Available at https// Accessed 12 Dec. 2017. Staff, I. (n.d.). Cash Back. online Investopedia. Available at https// Accessed 13 Dec. 2017. Anonymous. (2003). Cash-back shines as loyalty reward. Chain Store Age, 79(2), 56. Aquino, J. (2012). Consumers Want More Personalized Shopping Experiences. CRM Magazine, 16(4), 14. Conklin, D.W. (2006). Cases in the Environment of Business International Perspectives. Retrieved from HYPERLINK https// l vonepageqinitial20investment20cost20of20a2020theme20park20w.20conklinffalse https// HKFP (2016). Ocean Park loses over a million visitors in 2015 biggest drop in years. Retrieved from HYPERLINK https// HYPERLINK https// https// Hong Kong Tourism Board. (2017). Highlight Attractions Themed Attraction. Retrieved from HYPERLINK http// HYPERLINK http// http// Ocean Park Corporation. (2016). Auditors Report Financial Statements 2015-2016. Retrieved from HYPERLINK http// HYPERLINK http// http// Ocean Park Corporation. (2016). 2015-2016 Annual Report. Retrieved from HYPERLINK http// HYPERLINK http// http// Ocean Park. (2017). SmartFun Annual Pass. Retrieved from HYPERLINK https// https// Ocean Park. (2017). Corporate Information General Facts. Retrieved from HYPERLINK https// HYPERLINK https// https// Ocean Park Hong Kong. (2016). Appointment of Most Preferred Proponent for the Development of The Fullerton Hotel @ Ocean Park. Retrieved from HYPERLINK https// https// Ocean Park Hong Kong. (2017). Corporate information Vision and Mission. Retrieved from HYPERLINK https// HYPERLINK https// https// Tourism Commission. (2017). Tourism Performance in 2016. Retrieved from HYPERLINK http// http// Trading Economics. (2017). China GDP Growth Rate. Retrieved from HYPERLINK https// https// TripAdvisor. (2017). HYPERLINK https// Top 25 Amusement Parks Asia. Retrieved from HYPERLINK https// HYPERLINK https// https// McKercher, Du Cros. (2002). Cultural tourism The partnership between tourism and cultural heritage management. New York London Haworth Hospitality Press. Appendix 1. Revenue of OPHK (Data is collected by Ocean Park annual report 2012-2017) INCLUDEPICTURE https// MERGEFORMATINET 2. Positioning map (Price vs Number of facilities) INCLUDEPICTURE https// MERGEFORMATINET 3.Gantt Chart INCLUDEPICTURE https// MERGEFORMATINET 4. PESTLE analysis Political Open immigration policy for nationals of about 170 foreign countries and territories may come for pleasure visits visa-free for a stay ranging from 7 to 180 days EconomicThe GDP of Hong Kong is increased by 3.9 from 2015 to 2016 Stable growth rate of GDP in China averaged 1.83 percent from 2010 until 2017 (Trading Economics, 2017). In 2016, the number of visitors from around the world received by Hong Kong declined by 4.5 over 2015 to 56.7 million (Hong Kong Tourism Board, 2017).SocialThe concerning on environmental awareness is increasedTechnologicalAdvanced technology development social networking, booking system, free Wi-Fi, mobile apps New technology trend (VR AR)LegalOne trip per week Individual Visit Endorsement for Mainland residents since 2015 4. SWOT analysis StrengthsWeaknessesHave a positive and unique image New water park and two hotels are under development Collaboration with leading brands and characters Bad finance performance. The surplus of OPHK was continuously declined from 2013 to 2016.OpportunitiesThreatsNew technology trend (VR AR) More convenient transportation the new traffic South Island line has been operated Increase of competitors such as Shanghai Disneyland, which may affect the visitor numbers of OPHK. Hong Kong Disneyland establish new attraction PAGE 6 Hospitality Business Solutions Working Capital decrease Profit loss Number of visitor decrease increase of Competitor Shanghai Disneyland Resort Attractiveness decrease Number of visitor to Hong Kong fell Operating cost rise developing cost znAqN.O-f_e5koshEQZVPF,NPxAokDA eoE/fqJh-
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