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I need some assistance with these assignment. on universal studios hollywood park (see other instructions ) Thank you in advance for the help!
I need some assistance with these assignment. on universal studios hollywood park (see other instructions ) Thank you in advance for the help! Universal Studios Hollywood Park Introduction The Universal Theme Park in Hollywood is the parent studio to a range of studios scattered from Hollywood, Orlando, Osaka, and Sentosa all under the Universal Studios’ trademark. The visitors to the studios range from local to international and their spending patterns are vital to amassing revenues to cater for the employees’ remunerations (Sehlinger, & Testa, 2010).
History and development of Universal Studios
The Laemmle’s family was the founding proprietors to the Universal Studios, but their power and prowess declined over as the Americans did not appreciate their nepotism practices thus. they would not purchase the products. The company went to receivership and Standard successfully obtained only to lose it two decades later to the MCA (Sehlinger, & Testa, 2011). The company has since diversified to the international platform.
Universal’s market structure
The entertainment company serves almost all ages in the global society through the production of the most appropriate films that each age may deserve. The movies sell globally across different cultures and political systems because of its approach to customization to ensure that ethics are not contravened whatsoever (Sandler, 2008).
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Local examples to the Universal Studios
The Universal studios based in Orlando which own a water park establishes the best local example the company’s entertainment approaches. The company ensures that entertainment services are the key to drawing visitors to its services which include hospitality services (Sehlinger, & Testa, 2011).
Operations to effect customers’ perceptions
The company’s management ensures advertisement throughout different geographic and demographic segmentations with precise emphasis of the benefits accruable from visiting the studios or using its products (Wallace, & Adams Media Corporation, 2004). These approaches target both local and international clients (Plunkett, 2007).
Universal’s ownership and the entertainment distribution process
The American based and one of the oldest entertainment production companies has its headquarters at Hollywood. However, over the last half a century, the company diversified accordingly to different markets in the United States of America, central Europe, and south East Asia (Enz, 2010). These effects date from the initial owner ship of the Laemmle’s family, to the receivership by Standard to the current ownership.
Future prospects of ownership and the extend of government interference
The US authorities implement stringent approaches to regulating ownership and decision making processes of the media industry. Therefore, Universal studios fall under the acts thus. only 20% of the shares may be sold to the foreign investors, although the authorities may withhold such measures if the increased foreign investments shall benefit the indigenous population.
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Short term changes that depict likeliness to affecting the sector
The growth of digital technology is harboring the desired mobility of visitors since they can access the visual benefits from the social media (Wallace, & Adams Media Corporation, 2004). The company is likely to establish reduced profits because of the rise in competition in the media industry and the reduced rate of advertising since the social media is providing and more advanced platform to reach a broad spectrum of the target population.
Conclusions
Through the research survey on Universal studios, it is identifiable of the strategies that lead to prosperity and the consequential approaches that may harbor desired development. Ethical considerations seem to be vital in impacting the desired changes in the media industry as portrayed from the research (Atwood, 2009).
Recommendations
According to the prospects, the Universal studio company should pose as a global market leader in the media and entertainment industry. However, the desired goals of the company lag behind and are yet to be achieved. Therefore, it would of best remedy to ensure that the company strategizes on the best approaches that will remodel the profit and investment criteria, with reduced government interference.
References
Atwood, C. G. (2009). Knowledge Management basics. Alexandria, Va: ASTD Press.
Enz, C. A. (2010). Hospitality strategic management: Concepts and cases. Hoboken, N.J: John Wiley & Sons.
Plunkett, J. W. (2007). The Almanac of American Employers 2008. Houston, Tex: Plunkett Research Ltd.
Sandler, C. (2008). Econoguide Disneyland Resort, Universal Studios, Hollywood: And other major southern California attractions including Disneys California Adventure. Guilford, CT: Insiders Guide.
Sehlinger, B., & Testa, L. (2010). The unofficial guide to Disneyland 2010. New Jersey: John Wiley & Sons.
Sehlinger, B., & Testa, L. (2011). The unofficial guide to Walt Disney World 2011. New York: Wiley.
Wallace, R., & Adams Media Corporation. (2004). The National jobBank 2005. Avon, Mass: Adams Media Corp.
