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THE OBJECTIVES
THE OBJECTIVES ARE KEY
Global Attractions has a project formula based on phases, thus allowing the client a decision making process based on the results of the analysis of each phase.
The involvement of the client in all phases of the project guarantees satisfaction of the client and success of the project. The first step in every project is to identify which are the objectives that we need to achieve. It may sound obvious, but most of the time the client himself does not have a clear and structured perception of his objectives.
Obtain a high level of profitability is a very obvious objective, but maintaining it over time is even more important. Create an entertainment offer that has no comparison in the surrounding area may be sufficient to obtain a high level of profitability, but offering the customer a unique and unforgettable entertainment experience is often critical to maintain and grow the profits.
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THE FEASIBILITY STUDY
Phase 1 of every project is the scenario building and the financial simulation. A structured approach to the study of the project will assure that the basic elements for the success of the venture are laid down. All other aspects of the project will fall in place smoothly if the initial homework is well done.
The options in terms of cost structure and the assumptions in terms of profit drivers are matched to the profiles and behaviors of the market segments identified. The resulting output is the price and volume analysis that determines the revenue structure and, ultimately, the financial simulation for the project.
The resulting scenario is then scrutinized in terms of competitive benchmarking with the competing attractions and other available leisure options. If the scenario holds the confrontation, then Phase 1 is completed and the basic elements of the project are identified.Otherwise the process goes back to the start to see if there are different options in terms of cost/revenue structure and market segmentation, which would result in better competitive positioning or lower break even point. |
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