Ocean Park Case About Development Process.pptx

ocean park

1. Reignite Ocean Park Group 6 Aryan M. , Ekaterina K. , Gloria O. , India S. , Isabelle H. , Maxime G.

2. Executive Summary SITUATION KEY QUESTION RECOMMENDATIONS IMPACT OPCs Operating Deficit is Sinking Attendance OPCs Lack of Synergy is Dampening the Customer Experience OPCs Social Mission is Being Drowned Out 100.95 Mill HKD Tides of History Reminisce  memories of Hong Kong's Ocean Park Uniting Ocean Park Creating an immersive world for all of Ocean Park's visitors HOW CAN OCEAN PARK BE FINANCIALLY SECURE WHILE PROMOTING ITS CORE CONSERVATION & EDUCATION MISSION? Protecting Ocean Park Development of OPC's conservation Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact Social mission (5yr) +18% Ticket Sales

3. Ocean Park Annual Report 2018/19 & 2021/22 OPC must focus on promoting its 3 central pillars 3 Vision/ Objective PROMOTE CONSERVATION, EDUCATION, AND ENTERTAINMENT CONSERVATION 1 EDUCATION 2 ENTERTAINMENT 3 Since 2019, OPC has seen a decline in all 3 branches of its core mission  Education Reach Has Declined by  2,204,000 From 2018/19 to 2021/22 Animals in Conservation has decreased by  371 Animals From 2018/19 to 2021/22 Attendance Has Plummeted By 75% From 2018/19 to 2021/22 Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

4. Case: Ocean Park Corporation: Planning for an Unpredictable Future OPC's operating deficit is driven by declining attendance  4 Factors Contributing to Declining Attendance Direct Relationship Between Attendance & Operating Surplus/Deficit Social Unrest  COVID 19 Pandemic  Mainland Chinese Borders Only Recently Lifted  HK Tourism Only Recovered 18% Since 2019 Operating Surplus/Deficit (HK$ Million) Attendance (Million) 2016 2017 2018 2021 2020 2019 2022 YEAR 300 (300) (600) ATTENDANCE (Millions) OPERATING SURPLUS/DEFICIT (HK $ Millions) 6 4 2 1 3 4 2 Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

5. OPC's current lack of synergy dampens the customer experience  5 Chan Family  AWARENESS Mr & Mrs Chan visited OP as kids and want to share the same experience with their kids They don’t know how to plan their day & don’t remember what Ocean Park offers They also have family from mainland arriving soon at would like to take them to OP Confused Identity of theme park or zoo When searching for animal experiences or conservation in HK OP does not immediately spark results INTEREST ENGAGEMENT REPEAT ADVOCACY  Interest is mostly generated from visitors wanting to attend for the theme park  Easy to get distracted by one section of the park & get lost in the rides section or animal exhibits  Little emotional connection built with the animals Little incentive to return to see or experience something new  Not much to take away about conservation or the animals to share OP needs to improve the customer journey through creating synergy across the park to boost attendance Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

6. OPC's social mission is being drowned out  6 GAP Where We Want to Be  Where We Currently Are  "Hong Kong Best Theme Park & Attractions" - Ocean Park Website  Primary Focus is on Rides & Theme Park  Equal Focus on Rides & Attractions and Conservation & Education  "As Ocean Park transforms into a destination that focuses on conservation and education, grounded in nature and complemented by adventure and leisure elements to enhance visitors' experience, the larger society will benefit from our efforts"  - Chairman Pong Kin Yee Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

7. OPC should place a clear emphasis towards its social mission to establish a clear competitive advantage in the eyes of consumers 7 Positioning Map OPC Needs to Emphasize Their Social Mission To Establish A Clear Competitive Advantage in The Eyes of Consumers Thrilling Rides & Attractions No Rides & Attractions Little to No Animals in Conservation  Significant Animals in Conservation  OPC is a clear leader in Animal Offerings with No Official Zoo in HK  Other Zoological & Botanical Efforts cannot compete with the current number of animals in conservation at OP  OPC's has a clear edge as the only park that offers conservation & entertainment   Key Points  Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

8. 8 8 Tides of History ______________ Reminisce memories of Hong Kong's Ocean Park 1 Uniting Ocean Park ______________ Creating an immersive world for all of Ocean Park's visitors 2 Protecting Ocean Park ______________ Development of Ocean Park's conservation efforts 3

9. 9 9 Tides of History ______________ Reminisce memories of Hong Kong's Ocean Park 1 Uniting Ocean Park ______________ Creating an immersive world for all of Ocean Park's visitors 2 Protecting Ocean Park ______________ Development of Ocean Park's conservation efforts 3

10. Locals (Recurring) Visitors (One-time) Customer relationship Values to each customer segment and behavior Locals Foreign Visitors Grew up with the park Strong sense of nostalgia tied to park Attachment to rides and animals Recurring visitor over span of lifetime (from childhood to adulthood) Could potentially visit on any weekend in a year Less sensitive to price and events Objective Boost attendance during off-seasons (outside of Halloween/public holidays) Attendance is contingent on engagement with local, recurring visitors Novelty of rides and animals Convenience (Ease of access)  Cheaper + Customer experience  打卡 Phototaking opportunities Will be choosing between Disney/OP Mainly from Mainland China  Visitation dependent on macro factors Only visit during public holidays Will not come to Hong Kong only for OP Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

11. Ocean Park should leverage their USP to reconnect with their audience and boost attendance. 1 2 Ocean Park Unveiled CAMPAIGN: Reconnect audience with the core of Ocean Park by inducing nostalgia 46 years of history First Marine Themed Ocean park in Asia. Over 100 million guests. Only significant landmark in the South side of HK Houses iconic animals such as Giant pandas, red pandas and seals Management and board underwent many changes. Ocean Park Legacies Ignite community interest through fun competitions and prizes. Ocean Park Memories: Share Your Story, Shine in Our Documentary! Ocean Park Flashback: Recreate Memories, Win an Annual Pass for Two!  Further connecting with locals through behind the scenes stories. Ocean Park Odyssey: Unveiling Untold Stories in a Captivating Documentary Nostalgic Vignettes: Immerse in Old HK Charm through Installations Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

12. Actively engage with HK public to generate buzz for OPC's campaigns Campaign 1:      Ocean Park Memories: Share Your Story, Shine in Our Documentary! Campaign 2:      Ocean Park Flashback: Recreate Memories, Win an Annual Pass for Two!  1 2 3 1 3 Start launching Campaign: Offline (Live interviews with plushies/coupons to incentivise) Online (Open forum across all social media platforms) Sift through Candidates and short list winners. Criterion: Is it compelling? Is it personable? Is it unique? Is it Hong Kong? Contact winners and negotiate details of documentary. Start filming and working on production. Start launching online campaign to collect submission of photo recreations OBJECTIVE of Ocean Park Legacies Lay down the groundwork for second part of the Campaign -  Ocean Park Unveiled. Reinserting OP into the culture consciousness using established consumer network Leveraging HK locals' love of the city to prompt them to return to Ocean Park and increase return rates in general. Contact winners to give the free annual passes. Aggregate photos for the upcoming photo wall installation. Campaign 1 Campaign 2 Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

13. Position OPC as integral part of HK's Culture and History to Increase Attendance Ocean Park Odyssey: Unveiling Untold Stories in a Captivating Documentary Nostalgic Vignettes: Immerse in Old HK Charm through Installations  Showcase and educate the public about conservation efforts Spotlight key players & staff that influenced the park over the years Highlight community stories across the decades from community contests.  Spotlight voices across age groups and demographics Emphasise on giving voice to genuine and authentic Hong Kong stories. Medium: Long-form video with an emphasis on personal narrative rather than production value. Short form content on social media for promotion. Physical installations within the park at Old HK Area  showcasing historic monuments, personal stories from social media campaign #1 and photo wall from social media campaign #2 Photo-taking walls and flashing HK themed exhibition to drive up engagement from Mainland China side. Strategic Sponsorships with Key Hong Kong influencers to Target Family Segment GROSS FOLLOWING NAME @The Reynolds Family @Hanna Vanharanta @lucy.is.good 410K 284K 341K Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

14. 14 14 Tides of History ______________ Reminisce memories of Hong Kong's Ocean Park 1 Uniting Ocean Park ______________ Creating an immersive world for all of Ocean Park's visitors 2 Protecting Ocean Park ______________ Development of Ocean Park's conservation efforts 3

15. Ocean Park should focus on bridging the gap between recent market trends & visitor demand to become more competitive  Visitor Demand Immersion Amusement Park Market Trends Escapism Immersive worlds Excitement Low effort— high impact Ocean Park Needs d Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

16. Ocean Park should focus on re-establishing a strong sense of theme and nature motif throughout all parts of the park Synergy between all 3 areas of Ocean Park for an immersive world Conservation Education Entertainment Animal Zone Water World Attraction Zone Visitor Demand Immersion Amusement Park Market Trends Escapism Immersive worlds Excitement Low effort— high impact Ocean Park Needs d Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

17. Ocean Park should focus on bridging the gap between recent market trends & visitor demand to become more competitive  Case Study: Animal Kingdom Disney Orlando Objective Spread Ocean Park's theme of a nature/conservation & adventure/leisure zone through all parts of the park.  Visitor Demand Immersion Amusement Park Market Trends Escapism Immersive worlds Excitement Low effort— high impact Ocean Park Needs d Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

18. Repeat Advocacy Expansion of the Redd Explorers + Whiskers & his Friends program will allow OPC to create a more immersive and educational experience Redd's Explorer Passport 1 Begin your adventure Kids receive Redd's Explorer Passport at the entrance of the theme park 3 With each challenge completed, kids receive a stamp in their passport GOAL: to complete all challenges in the passport  Following the map in the passport, kids meet Whiskers & his friends to complete a variety of  activities related to conservation throughout OP 2 Explore Ocean Park Become a Certified Redd Explorer Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

19. Red's Explorer passport will promote the   immersiveness   of OPC, fulfillment of park visits, and create incentive for visitors to return Explorer Passport Benefits: 33 Stamps Total Spread All Throughout the Park: Immersion of guests into a world of exploration and discovery Immersive education for younger guests Other ideas: Buy ____ snack Explore the habitat of the otter and experience 'The Rapid; Find the hidden insects eaten by the meerkat! Learn the Flamingo Dance! Promotes synergy between all parts of the park Reestablishes "nature" theme throughout park Challenge Ideas: Chance to enter the lottery to win free tickets to Ocean Park's Summer Expedition Program & the Explorer Certificate: Builds upon the existing Whiskers & Friends program + creates emotional connection with the park Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

20. OPC should adopt a five step approach to successfully implement the Explorer Passport program Operational Execution Passport Development Passport Design and Production Staff Training and Setup Launch and Communication Create a variety of challenges related to park attractions, animals, and educational points Utilize social media platforms to publicize the event Sponsorships with family focused influencers Ensure smooth stamp station operations with engaged staff members Collect feedback from participants and parents Reward kids who completed all stamps Production of passport pamphlets = approximately 700k Production of stamps for each of the 33 stations Train frontline staff  Engagement Enthusiasm Confidence Set up stamp stations locations with trained staff @The Reynolds Family Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

21. Current financial feasibility Low maintenance Immersion Explorer Passport Mixed Reality Attraction Themed Food Options Thematizing Rides Educational Ocean Park should continue focusing efforts into creating a more immersive world in the long-term More desirable Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

22. Current financial feasibility Low maintenance Immersion Explorer Passport Mixed Reality Attraction Themed Food Options Thematizing Rides Educational Ocean Park should continue focusing efforts into creating a more immersive world in the long-term More desirable Most Effective & Feasible in the Short-Term Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

23. 23 23 Tides of History ______________ Reminisce memories of Hong Kong's Ocean Park 1 Uniting Ocean Park ______________ Creating an immersive world for all of Ocean Park's visitors 2 Protecting Ocean Park ______________ Development of Ocean Park's conservation efforts 3

24. Access to Exclusive Content Certificate Plushie Symbolic Adoption at OP Establishes Further Connection Between Visitors & Animals  1 2 3 What's Included?  How Will it Work? Each Animal will be available for "adoption" within the park or online via the website  Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact Awareness of conservation and education efforts Establishes deeper connection with animals to further customer loyalty Generate more revenue for animal conservation efforts

25. Schools Advanced Package  Medium Package Basic Package Diversifying adoption channels to different consumers will create a more well-rounded marketing effort towards conservation 1 2 3 Packages Available   How Will it Work? Adoption will be available at different donation value packages Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact B2C B2B Average Consumer/Individuals Companies

26. Meet Kevin Investment Banker Wants to make his girlfriend happy Keen for gift giving Strongly believes in protecting the environment Looks for gift ideas for girlfriend on Instagram Sees "Symbolic Adoption" Instagram Ad Enhance association through personalized emotional connection with animals Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact Scrolls through website and finds his girlfriend's favorite animal — a Panda! Orders the gift for her birthday. Receives + gifts adoption certificate, plushie, and first exclusive video Both are very happy and fulfilled! Kevin and his girlfriend hold a stronger emotional connection to Ocean Park and want to visit their adopted Panda!

27. IMPACT

28. Strategy 2023 2024 2025 2026 2027 Tides of History Social Media Nostalgic Movie Uniting Ocean Park Passport Themed Food Employee motivation & training Thematizing rides Protecting Ocean Park Animal Adoption Certificates & Plushies – Insider Membership Implementation Timeline: Strategies can quickly and efficiently be implemented.  Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

29. Attendance Growth Resulting in Steady Operating Surplus  Achieving Pre-Pandemic level visitation by 2024   - HK GOVT GUIDANCE Tides of History    (y1) Total Reach ~ 0.24mm      Conversion Rate ~ 1%    YoY% Growth ~ 5% Operating surplus/deficit (HKD Million) Unifying OPC (y1) Returning Visitors ~ 1.49mm   ~18% Increase in Total Visitors       Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

30. Low Costs, High Project Impact: Aiding Internal and External efforts at a ~38% profit margin Profit from Breakdown In HKD millions Profit Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact By the end of 2025E $78.15 Passport Animal/Labour Donations External Internal $17.95 67% 33% $7.69 $52.51 HKD Millions Protecting Ocean Park 70% of Revenue Generated goes to Donation efforts achieving 2 objectives 13% YoY Revenue Growth at a  38% Profit Margin Protecting OP Uniting OP Contributing to Our Core Social Mission Easing Our Operating Costs 1 2 Uniting Ocean Park

31. Risk and Mitigation: Mostly macroeconomic risks that can be overcome Severity of risk Probability of occurrence Low threat Medium threat High threat Economic Downturn 1 Political Unrest 2 Lack of traction 3 Plan 1 Streamline operations Sponsorships Focus on local visitors 1 Plan 3 Minimal loss Intensify marketing strategy Government grants 3    Plan 2 Neutral entertainment/animal park Government collaboration to reassure visitors 2 Risk ranking Mitigation Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact

32. Executive Summary SITUATION KEY QUESTION RECOMMENDATIONS IMPACT OPCs Operating Deficit is Sinking Attendance OPCs Lack of Synergy is Dampening the Customer Experience OPCs Social Mission is Being Drowned Out +18% 100.95 Mill HKD Tides of History Reminisce  memories of Hong Kong's Ocean Park Uniting Ocean Park Reminisce memories of Hong Kong's Ocean Park HOW CAN OCEAN PARK BE FINANCIALLY SECURE WHILE PROMOTING ITS CORE CONSERVATION & EDUCATION MISSION? Protecting Ocean Park Development of OPC's conservation Situational Analysis Tides of History Uniting Ocean Park Protecting Ocean Park Impact Ticket Sales Social mission (5yr)

33. Appendix Situational Analysis: 1. OPC 3 Central Pillar 2. OPC Declining Attendance & Operational Deficit 3. Lack of Synergy Impacts Customer Experience 4. OPC's Social Mission 5. Competitive Advantage Tides of History 1. Attendance is Contingent with Locals 2. Leverage USP 3.Nostalgia Campaign 4.Positioning OPC as Integral Part of HK Culture Uniting Ocean Park 1. OPC Immersion & Theme — Synergy of the Park 2. Explorer Passport 3. Benefits of the Explorer Passport 4. Implementation of the Explorer Passport 5. Other Immersion & Unification Tactics Protecting Ocean Park 1.Symbolic Adoption Impact 1. Implementation timeline 2. Growth in attendance 3. Low Cost High Imapct 4. Risk and Mitigation Appendices: 1.Top Amusement Park in the World By Attendance 2. Travel and Tourism in HK 3. Tourism in HK Government Recommendation 4. Instagram Nostalgia Campaign 5. Explorer Passport prototype 6. Case Study: B2B Adoption 7. Themed Food Tactic 8. HK tourism – OCP visitors relationship   9. Income Statement Projection 10. Attendance projections 11. Growth in local visitors due to social media campaig n 12. Free cash flow 13. Revenue driver 14. Cost 15. Project Profit Projection

34. Appendix — 1: Top Amusement Parks Worldwide by Attendance  Similarity: All have strongly rooted and thoroughly developed theme and sense of immersion

35. Appendix — 2: Travel & Tourism Revenue in HK 

36. Appendix — 3: Travel & Tourism in HK, Gov. Recommendation

37. Appendix — 4: Ocean Park Nostalgia Instagram Campaign

38. Appendix — 5: Explorer Passport Prototypes Sample Map Sample stamp stations Sample Stamp Challenge

39. https://www.australiazoo.com.au/support-wildlife/adopt-an-animal/kangaroo-teal/ Ultimate Adoption $10,000 AUD = $51,5955 HKD https://www.mandai.com/en/get-involved/partner-with-us/become-a-wildlife-partner/adopt-an-animal.html#adopters Australia Zoo  Singapore Zoo  "Adopt an Animal School Edition"  Average of 1 school adoption per month 2021/22 In the 2022/23 school year, there are 593 primary schools, 510 secondary day schools and 63 special schools – HK Education Bureau https://www.edb.gov.hk/en/edu-system/primary-secondary/primary/index.html#:~:text=In%20the%202022%2F23%20school,schools%20and%2063%20special%20schools. In 2022, there were 180 active primary schools in Singapore – Statistica https://www.statista.com/statistics/865443/singapore-number-of-primary-schools/#:~:text=In%202022%2C%20there%20were%20180,for%20all%20citizens%20and%20residents. Appendix — 6: Company/School Adoption Australia + Singapore Zoo

40. Appendix — 7: Themed Food Tactic Case Study: Universal Studios Harry Potter Ideas: Pearl Macaroons Panda Dim Sum Magical — Escapism Creativity — Excitement  Innovativeness — Unique

41. Appendix — 8: HK tourism – OCP visitors relationship

42. Appendix — 9: Income Statement Projection

43. Appendix — 10: Attendance Projections

44. Appendix — 11: Additional local visitors due to social media 

45. Appendix — 12: Free Cash Flow

46. Appendix — 13: Revenue Driver

47. Appendix — 13: Revenue Driver

48. Appendix — 14: Cost

49. Appendix — 15: Project P/L Evaluation