This paper examines Universal Studios' successful expansion into the Japanese market.
Written in 2007; 2,388 words; 26 sources; MLA; $ 73.95
Paper Summary:
The paper discusses how large American theme park operators have entered foreign markets since the 1980s with enormous success. The paper focuses on Universal Studios, a company that entered the Japanese market successfully, using partnerships, marketing research and adapting to the Japanese consumer culture. The paper shows the importance of patience, commitment and knowledge. The paper points out that for any size corporation deciding to enter a new international market, it is imperative that the corporation be prepared and committed for the long-term.
"The global market for theme parks is currently valued at US$23.5 billion, according to Euromonitor, of which the Asian market accounts for half of this value (Soyoung, K, 2007). The Asian theme park market is growing as of 1990 there were 225 parks that attracted at least half a million people a decade later there was 342 such parks (Whaley, F, 2001). Tokyo Disneyland, opened in 1983, was the first American theme park to have a major presence in the Asian region. Eighteen years later Universal Studios opened its first international theme park in Japan, Osaka. And recently Metro-Goldwyn-Mayer (MGM) announced it wants to enter the Shanghai market with its own theme park (Soyoung, K, 2007)."
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