Running Head: MARKETING
1
1-2 Report: Role of Marketing in Brand Management
MBA 645
SNHU
March 27,2022
MARKETING
2
The report focuses on shedding light on the role of marketing in the creation as well as the
sustainability of a brand. It will also highlight the benefits of customer loyalty for a brand.
Role of the Four Ps of Marketing
The product plays an important role in reassuring the existing customers and inviting
new customers. In this case, the product is the theme park and its available services. It is the
product that offers value to the customers in return for the money invested. A product is
purchased by the customers with the motive of benefitting from it (Schmidt, 2010). The theme
park is an important product for the tourism and leisure industry (Pikkemaat & Schuckert, 2007).
The theme parks met the entertainment needs of the customers by providing them with
excitement, fun, as well as adventure. It helps in building an emotional connection with the
customers. The fun and memorable experiences provided by the theme park will help in
retaining the existing customers while attracting new ones.
Another important ‘P’ of marketing is price. Price can be used for generating new
customers for the theme park as well as retaining the existing ones. After the safety incidents, to
attract new customers, it is important to make changes to the pricing strategy of the theme park.
The penetration pricing strategy can be used. It means temporarily setting the price of the entry
ticket of the theme park below the market price (Sammut-Bonnici & Channon, 2014). Offering
the customers with entry tickets at less price in comparison to other theme parks can help in
effectively generating new customers, thereby allowing rapid market penetration. It can also
help in retaining the existing customers. In addition to lowering the entry ticket price, the cost of
food and beverages, as well as other services available within the theme park, must also be
lowered. In case lowering the cost of food and beverages is not an option, lucrative discounts can
be offered in order to attract more new customers while retaining the existing ones.
MARKETING
3
The place or the location and ambiance of the theme parks play an important role in
restoring and enhancing the confidence of customers in the brand. It is vital to market the
ambiance of the theme parks to the target audience by means of advertisements. Billboards,
social media channels, etc., can be used to bring the new look of the theme parks before the
customers. High-quality and appealing pictures must be promoted in order to capture the
attention and attract the interest of the customers. Moreover, the message that the safety of the
location has been enhanced than before must be communicated to the target audience as much as
possible. This can help in building trust and increasing the confidence of the customers in the
brand. The look and feel of the place will play a vital role in restoring and enhancing the
confidence of the customers in the brand.
Promotion is highly important in order to create more engagement and additional traffic.
In order to promote the theme parks, a number of events, as well as outreach programs, can be
conducted. Outreach programs act as means of advocating for the services available at the theme
parks and provide an opportunity to connect with more people. A community outreach program
can help in reaching out to the targeted audience and ensuring additional traffic. Hosting
exciting and entertaining events can help in increasing the visibility of the brand, thereby
attracting more traffic and ensuring the better engagement of the people. Through the events and
community programs, the enhanced safety of the theme parks can be clearly communicated to
the customers, thereby attracting more traffic.
Benefits of Customer Loyalty
Brand loyalty can help in reducing the marketing cost of the brand. When customers are
loyal to a specific brand, they are more likely to purchase from the same brand frequently. Even
if they do not see any advertisement of the brand, the loyal customers will keep buying products
from the same brand. It helps in reducing the marketing cost of the brand as they do not have to
MARKETING
4
market their product again and again before the loyal customers. They only have to market their
products to reach out to new customers.
Brand loyalty can also be used as means of creating a barrier to entry for new
competitors. It is because even if the new players enter the market, the loyal customers will
choose their favorite brand only. As the new players visualize that there is no scope of growth in
the market, they are not likely to enter the market.
Brand loyalty can also help in enhancing the overall financial performance of the brands. As
loyal customers continuously purchase products and services of the same brand, they help in
increasing the revenue of the brand. Moreover, by reducing the marketing costs, the loyal
customers help in increasing the profits of the brand and ultimately its financial performance.
MARKETING
5
References
Pikkemaat, B., & Schuckert, M. (2007). Success factors of theme parks–An exploration study.
Tourism: An International Interdisciplinary Journal, 55(2), 197-208.
Schmidt, J. B. (2010). Whole‐Product Concept. Wiley International Encyclopedia of Marketing.
Sammut-Bonnici, T., & Channon, D. F. (2014). Pricing strategy.
