Gold Coast Theme Park

In the analysis of Theme Park Industry in Gold Coast's task environment, Porter's five forces model is used which includes the threat of potential new entrants the bargaining power of suppliers and customers, the availability and comparability of substitutes and the competition among existing competitor. As a result, due to the high capital requirement and customer loyalty for existing operator, the threat of potential new entrants is low; large number of roller coaster manufacturers, and they depends on particular buyer (theme park) for a lot of their sales, the bargaining power of suppliers is low; many substitute products and lower price makes customer choose substitute instead of theme park, the power of substitute is high; the number of competitors and the industry growth make the power of competition is intense. In all, theme park industry in Gold Coast still remain profitability. In terms of the broad environment analysis, the economic force like financial crisis and the social cultural force like reduction of birth rates will both impact on the growth of the industry adversely. Also, once Carbon Tax is implemented, it will have a great impact on the number of visitors globally and nationally. However, the development of technology will have a positive impact on the growth of the theme park industry. It will accelerate the speed of routine tasks by automation, and create better interchange ability at work as well as make the customer service more consistent. Based on the environmental analysis, there are four main strategic issues mentioned in this report. They are economic forces, marketing strategy, social cultural forces and human resource strategy.