Learning From Others

Abstract

Theme parks are important products for the leisure and tourism industry of any country. They have become a globalized commodity that transcends countries and cultures. With the global rise in anxieties and the stress of modern living, consumers are looking for an antidote for these circumstances, and an escape to the theme park is an ideal solution for many. The developments of theme parks are capital intensive and require much commitment from the investor or developer of the said theme park. Thus, it is critical for potential investors of theme parks to identify the critical factors for the success of theme parks. Marketing literature and research has indicated that authenticity of the product as well as the staging of experiences as the main factor influencing consumer's decision to buy a leisure or tourism product. This case study focuses on the Genting Group Malaysia and their foray into the theme park industry. By observing and learning from other theme parks' success and failures, it is hoped that future theme park developments will be able to maximize their chances of success.