Hershey Park SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Hershey Park, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Hershey Park to benchmark its business & performance as compared to the competitors, and make strategic improvements. Hershey Park is one of the leading brands in the tourism and hospitality sector.
The article below lists the Hershey Park SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Hershey Park SWOT Analysis:
In this article:
For Hershey Park, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Hershey Park looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Hershey Park :
1. The parent brand has a very strong brand presence in the chocolate industry.
2. It has a variety of offerings including thrill rides, water rides and children’s rides that would appeal to all age groups.
3. The park has won several awards including the IAAPA Applause Awards.
4. It has as many as 67 fully functional rides, including 11 roller-coasters and welcomes upto 20 lakh visitors per annum.
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Hershey Park SWOT Analysis:
1. The brand is not as strong as some of the other names in the amusement parks category in the USA.
2. It does not have a very strong brand presence outside USA.
3. Seasonal variations affect operating profits
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Hershey Park SWOT Analysis:
1. It can leverage on the popularity of the parent brand in the chocolate industry.
2. Through effective marketing, it can try and attract more international tourists.
3.It has a unique offering in the form of Hershey’s Chocolate World, which has the potential to attract visitors on its own.
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Hershey Park are as mentioned:
1. If there are no innovative offerings, there is no incentive for second time visit.
2. There are many strong competitors in and around Pennsylvania and the rest of the USA.
3.The competitors have a greater variety of offerings other than just amusement rides.
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Hershey Park:
1. Disneyland, USA
2. Six Flags, USA
3.Kennywood Park, USA
Hence this concludes the Hershey Park SWOT analysis.
Continue reading more about the brand/company.
|Hershey Park Overview|
Hershey Entertainment and Resorts Company
Amusement Park/Theme Park
Offers a good mix of thrill rides, water rides, children’s rides as well as other attractions
|Hershey Park STP|
Local young population and families
Primary: Families living in and around Pennsylvania; Secondary: Families living in the rest of the USA; Tertiary: Families visiting from abroad
An amusement park that provides entertainment options to the entire family
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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