Samsung Everland

Samsung Everland
Introduction

Everland is largest theme park in Korea
It offers numerous recreational activities
including
European Adventure
Magic land
American Adventure
Roller Coasters
Everland Speed Way
Wild River
v

Continue…
Sea Wave
Aquatic center
Fortress
Bay Slide
Zoo-Tropia,
Overview of the Case
 Samsung Everland is the pioneer in introducing theme park
concept in South Korea,
 Everland formally Yongin farmland was opened in 1976
 Operating profits of the company increased in past few years
 Number of attendants also increased in past years
 Primary market comprises of customers who travel about 1 hour
drive to Everland, where as secondary market focuses 1-2
hours and tertiary market comprises of those driving more
then 2 hour drive
 Everland introduced a master plan, expansion of everland which
include Caribbean bay, Global fair, Safari Tour
 Everland is often compared to Disneyland by those who have
visited both parks
 Mr.Her(president) was not only committed to the customer
satisfaction but one step ahead i.e. delight them



Master Plan: Farmland
Everland
 Expansion and Up gradation
 First Phase investment of US $ 300 Million
 Introducing
 Caribbean Bay water park worth $140m
 Global Fair worth $85m
 Safari Tour worth $50m
 On successful completion of first phase:

 Second Phase will be launched comprises of devolving Resort
Town, Luxury Hotels, Golf Courses & Resort Accommodation

Service Initiative
 Enhancement of services(Win-Win Philosophy)
 Cleanliness campaign
 Service academy
 In-house educational center
 Enhance learning capabilities
 Service trainings for other organizations
 Nationwide campaign for courtesy & kindness)
 Personnel policy (recruitment, education & retraining)

 Early measurements(Korean Research Group)

Competitors
 Lotte World
 Seoul Land
 Dream land
 Children Grand
Park
 Seoul Grand Park
Seoul Land

Strengths–S Weaknesses – W

Pioneer in Korea Image in Yongin

Strong parent company Quality in service
Low employees concern to satisfy
SWOT
Brand, Financially strong
Vast premises customers
Orientation towards customer Accessibility
Increased operating expenses

satisfaction

Opportunities – O SO Strategies WO Strategies

Product Development (S2+S3+O2) Market Penetration
Market Penetration (S2+S3+O2+O4)

New markets Market development (S2+ O1)
Indoor recreational facilities 
Increasing need of recreational activities in
people
22.2% people prefer spending 1day holiday
in theme parks

Threats – T ST Strategies
WT Strategies
Focus Strategy (S2,3,4 + T1,2)
Innovation (S2,3,4 + T1,2)
Differentiation
 Strong Competitors Enhance brand image
 Creative and innovative industry


Porters Five Forces Model
Competitive Rivalry
Intense
Bargaining power of supplier
High
Bargaining power of customer
high
Threat of new entrants
Low
Threat of substitute
medium
PEST Analysis
Political
Economical
Social
Technological


Profit declined
1992 1993 %age Change
Net Sales 47173 55217 17%
Total Expenses 43817 51987 19%
Operating Profit 3356 3230 (3.75)
*Data in Millions of Korean Won

Recommended Strategies
 Theme parks industry is highly technological, and it require
innovation and new products with the passage of time, we
recommend “Product Development” for Everland
 Everland should provide quality service in order to retain their
customers and for this it is advised for “Market Penetration”
 Theme park is a growing industry and Asia is considered to be a
highly attractive market, so Everland should go for Market
Development
 Everland must implement focus strategy in order to increase their
quality in service to delight their customers, because Theme
parks business is based on returning back customers (those who
visit again & again)
 Everland should also build a strong R&D department, because
successful theme Parks need strong market research to better
understand their customers


Samsung Everland

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What are some of the recreational activities offered at Everland?

What are the phases of Everland's expansion master plan?

Samsung Everland

 On successful completion of first phase:

 Personnel policy (recruitment, education & retraining)

Pioneer in Korea Image in Yongin

Increased operating expenses

Opportunities – O SO Strategies WO Strategies

Market Penetration (S2+S3+O2+O4)

 Creative and innovative industry

Net Sales 47173 55217 17%

Total Expenses 43817 51987 19%

Operating Profit 3356 3230 (3.75)

*Data in Millions of Korean Won

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