University of Technology Sydney
Faculty of Business
Pricing and Revenue Management Assignment
By Gary Anderson (10543546), Robert Baker (10630426),
Angela Chan (11080456), Fred Duarte (10796086), Mary Levy (10803928)
Prepared for Dr Christine Ebling
Due Date: 27th May 2010
CASE REPORT FOR TARONGA ZOO
By Anderson Baker Chan Duarte Levy Associates (ABCDL)
Contents
1. Taronga’s Zoo’s Strategy 1 1.1 Strategic Approach & Price Position 1
2. Current Analysis of Taronga Zoo’s Market 2 2.1 Willingness to pay 2 2.2 Consumer Behaviour and Current Pricing 2
3. Pricing Decision and Future Pricing Recommendations 4 3.1 Pricing for Families 4 3.2 Pricing for Couples 4 3.3 Increasing Repeat Visitation 4
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Domestic Visitors - Intra and Interstate (21%)
Tourism Australia in their report on Nature Tourism, identified domestic overnight visitors as adult couples 31% and families 31% (2009, p.2.). This corresponds with Tourism NSW data that showed in 2009 only 18% of visitors to Sydney were family groups (2010, p.1.). Yet Taronga Zoo offers no discounts to couples and marketing is focused on families, though there are a number of new programs that would cater for the couples market such as the twilight walks. Primary research has not provided sufficient information to draw further conclusions about domestic tourists see (Appendix 13) for further recommendations. International Visitors (28%)
Tourism data indicates that there will be a shift in international visitor demographics over the next 8 years (Appendix 14). Primary research has not provided sufficient information to draw conclusions about how this change in the origin of international tourists would impact pricing expectations see (Appendix 13) for further recommendations.
Repeat Visitation
Secondary research indicates there is a lack of repeat visitation (Appendix 15), yet this should form an important revenue stream for Taronga Zoo. Repeat visitors not only represent a stable source of revenue, they also act as informally networks linking friends, relatives, and other potential visitors (Reid & Reid
P4) Review factors that have contributed to one declining destination (Cyprus) and one developing (Greece) in the European travel market.
The number of trips taken by Britons overseas has declined by 12.6 million, from 69.4 million to 56.8 million between 2007 and 2011, according to the research by Travelodge. This means that 5.9 million holidays and trips have come out of the market altogether when the number of domestic holidays and trips are factored in. This is shy of the government’s stated ambition for domestic trips to replace the number of missing overseas trips, the report says. However, the analysis shows that ‘staycation’ breaks were up by 5.6% as the recession proved that holidays are an essential rather than a luxury. UK city breaks account for 23% of domestic tourism but seaside towns are in decline by 5%. Total tourism revenue was up 12.6% to £40 billion between 2007-2011 against the general economy up 8%. Employment numbers in tourism have bucked the wider trend, thanks to strong growth in 2011 when 120,000 new jobs were created. The UK’s appeal as a tourist destination endured during the double dip, with overall visitor numbers up by 3.1% to 157.4 million, the report shows. Staycations form the backbone of the tourism economy, with domestic trips and holidays increasing by 5.6% to 126.6 million.
Taronga Zoo – officially opened on the 7th of October 1916 – has been able to withstand the test of time, and today – some ninety years after being established – remains a prime tourist attraction in the heart of Sydney. By remaining open daily from 9am to 5pm (365 days a year, even Christmas Day!) the zoo is able to ensure that all zoo goers (including tourists and families) have plenty of time to explore the zoo, to take in the amazing scenery and views and even attend a show or two! Included in the price of entry is a free Newspaper (Sydney Morning Herald), access to the Cable Car and free access to several shows the run throughout the day at the zoo (most notable of which is the improved Free Flight Bird
Evaluate the potential impacts of two factors on the future of UK inbound and domestic tourism
| * Recent international Economic recession * Customers reluctant to travel due to increased gas prices * Decreased leisure spending
The target population in the research is the international visitors in the Australian Parks who originate from all parts of the globe. This means it’s a large group of people with diverse social and cultural expectations. Once they arrive in the parks, these visitors require various services like; reception facilities, parking facilities, maps and information services and human guides.
3.1 Market Recovery and Growth! 3.2 Importance of Tourists Spending! 3.3 Engagement in Social Medias!
Today I was planning to go to Taronga Zoo in Sydney. When I arrived to the zoo, I purchased my ticket and went inside. As I was walking on the main trail, I could see the Sydney Opera House, Sydney Harbor Bridge, and the Sydney Harbor. I saw many animals, some of which are endangered. There were many animals. I even had an up-close view to the koalas, giraffes, reptiles, and owls. I attended the seal show and bird show.
As mentioned by Rimmington & Morrison (2009), the assistance from different parts of the world presents a new and diverse outlook for future research including theoretical innovations and revelations, cultural and environmental aspects, tourist destination and other ecotourism and recreational aspects of tourism and hospitality industry (Brotherton,
The tourism sector also experienced an uptick in foreign visitors. More importantly, these tourists visited
To limit the range of the datas, the author only compares the number of tourists’ arrival, tourists’ expenditure and tourists’ length of stay from 2000 to 2006.
Secondary data were collected for this study, where we based on 42 countries from the year between 1997 to 2014. The study employs an econometric model of tourism demand and estimated using the method of Ordinary Least Squares (OLS).
Aim: This study empirically investigates the effect of world income and the relative price of tourism in X economy based on demand for export of tourism.
b) Using statistical information from institutions such as, the Office of National Statistic and UNWTO, discuss the current and future trends of leading tourist destination of Dubai.
Tourism has become a popular global leisure activity in 2008, there were over 922 million international tourist arrivals, with a growth of 1.9% as compared to 2007. International tourism receipts grew to US$944 billion (euro 642 billion) in 2008, corresponding to an increase in real terms of 18%. This paper is purposed to explain about impact of tourism including advantages and disadvantages. This impact has occurred in some different countries.