Universal Parks and Resorts are known by several names and the most common is the Universal Studios Theme Parks. It is a subsidiary of its parent company NBCUniversal, which in turn is owned by another corporation Comcast. As the name suggests it is a theme or amusement park and is associated with Tourism and Hospitality industry. It was founded in the year 1964, 15th July and currently is a huge global attraction, ranked as third-largest and visited by tourists from all over the world. Its major competitors in the world are as follows-
- SeaWorld Entertainment
- Walt Disney Parks and Resorts
- Disneyland Park
- Islands of Adventure
- Tokyo Disneyland
- Chessington World of Adventures
- Europa Park
- Legoland Windsor
Product in the Marketing Mix of Universal Studios
Universal Studios Theme Parks is a unique park which has been built with the entertainment industry, especially television and movies in mind. It is one of the most popular and highly visited amusement parks in the United States with a visitor count of more than five million every year. It has some amazing and interesting offerings for every one of its visitors.
The theme park has several attractions that are based on popular modern and classic pop cultures like music, video games, comics, cartoons, literature, television, and movies. In the year 1910, it was opened as a tourist spot and by the year 1964 had turned into Universal Studios Theme Park destination, where people could easily look for behind-the-scenes of television programs and motion pictures.
The theme park is diversified into six theme areas and it features some popular characters like Scooby Doo, Marilyn Monroe, Simpsons, and Popeye. It also has roller-coasters, water-rides and a simulator ride which has been based on the movie Despicable Me to attract its customers.
Each and every theme park of Universal Studio has something similar and something different to offer its visitors. Universal Studios Orlando in the year 2007, revealed its ace, Harry Porter as the theme of its amusement park, via The Wizarding World of Harry Porter. It proved to be a very big hit amongst the visitors. Universal has secured entire park regions on several important characters. Some of its important attractions are
- Transformers, The Ride
- The Simpsons Ride
- The NBC Universal Experience
- The Blues Brothers
- The Bates Motel Set
- The Bates Mansion Set
- Special Effects Stage
- Revenge of the Mummy
- King Kong: 360 3-D
- Jurassic Park: The Ride
- Jaws Encounter
- Fast and Furious: Supercharged
Place in the Marketing Mix of Universal Studios
NBCUniversal operates and manages Universal Studios Theme Parks from it’s headquartered base at Orlando in Florida. The theme park is spread over a large area and nearly 70% of its area is in Universal City and hence the name, with the rest in LA, California.
Universal Studios Theme Parks chain has been established in several parts of the world. First of them was opened in Hollywood in the year 1964 and Universal Orlando Resort in the year 1990 in Orlando at Florida. In the year 1999, it expanded to become a vacation resort.
In the year 2001, Universal Studios Japan was opened at Osaka in Japan and was the first in the chain to open outside the United States. The year 2010 saw another Universal Studios Singapore at Sentosa in Singapore. This park is built on an area of 20 hectares in size and has become the first to be launched in Southeast Asia.
The theme park has a distribution network that includes online shops, physical stores, internet, and television to distribute its related products. Efficient and well-trained employees are an integral part of a theme park and in this matter, Universal Studios Theme Parks has been blessed. It employs a large number of people from every part of the world irrespective of sex, nationality or religion.
Price in the Marketing Mix of Universal Studios
Universal Studios Theme Parks has targeted people from every age-group as its prospective customers. It encourages families, youngsters, kids, and tourists from all over the world to visit its theme park. Universal Studios Theme Parks charges an entrance fee from its visitors and gives tours to enthusiasts.
It is in a cut-throat industry with competition from some serious contenders to the top spot. In order to survive and earn profits, one has to maintain a reasonable pricing policy that will help in earning profits but will also be suitable to lure in tourists. The company has adopted a competitive pricing policy and kept its prices at par with the prices adopted by rival companies. It keeps on improving its products and brings in new innovative features which help in maintaining an avid interest in its products.
Universal Studios Theme Parks earns extra revenues from several other sources like rides, entertainments, shopping, dining, events, seasonal activities, guided tours, and passes. It also offers periodic discounts and incentives to maintain its customer loyalty.
Promotions in the Marketing Mix of Universal Studios
Universal Studios Theme Parks is a household name that gains infinite publicity from its theme parks. It has adopted several promotional policies to maintain and create brand visibility amongst its visitors. It has been coming up with new themes and rides which have been great crowd pullers. The company has adopted both above-the-line and below-the-line marketing policies.
It has displayed its ad campaigns via television, radio, magazines, hoardings, billboards, radio and leaflets. It organizes annual events and special occasions which are celebrated with lots of incentives and discount coupons including annual passes, multiple visits pass, group passes and discounts on hotel stay and on certain food stalls.
New attractions are highlighted to pull the crowds. Special offers include Universal Express which, is a single day admission with access to attractions and rides just once. VIP Experience is for exclusive access to VIPs and includes facilities like booking tours previously, expert guided tours, exclusive benefits in the theme park and exclusive access.
Its taglines are Jump into the Action, Ride the Movies and See the Stars. Famous Director Steven Spielberg has been associated with Universal Studios Theme Parks for a very long time. In the year 1987, he was the creative consultant for the first park.