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Six flags operates in an industry dominated by some other large theme park venues including Disney and Great
Adventure. About 85% of the industry revenue is generated by the 50 largest companies and those firms don't
change often. Thus, it is not fragmented like, for example, the plumbing industry where no one has a large share.
It is common for larger venues to change pricing and to have special attractions to increase attendance and to
seek to take attendance and share away from Six Flags parks. There are also substitute forms of entertainment
such as cruises and movie theaters and casinos. Gasoline prices have continued to rise. Theme park demand
varies substantially with disposable income much as vacations to resorts and hotels vary. As disposable income
goes down, attendance drops. Disposable income often changes from one year to the next, sometimes trending
up; sometimes trending down.
Digital entertainment software and hardware (as distinct from actual rides like a roller coaster) is now
everywhere and constantly changing. As a result, there is increasing pressure to offer more simulations or reality
type experiences. There is a benefit to this move in that such rides use less land and software can be changed to
change the attraction. The challenge is to keep the thrill, personal feeling of risk, and group interaction in place.
Also, the U.S. population is aging causing some fundamental changes in the age mix of visitors to parks and the
older generation tends to like thrill less and leisurely activities more. Like many such changes, its impact can be
felt each year in a modest way but noticeable way; after 5-10 years, its impact is clearer.
The U.S. is one of the most litigated countries in the world. There are many class action suits for all kinds of
reasons including those seeking the award of damages or torts. The size of the awards can be substantial.
Changes in judge, jury, and legislator attitudes takes time and doesn't happen annually but can take a toll within
a 3-5 year strategic timeframe. Government regulations vary from state to state but typically there are age and
height regulations for Six Flags rides and some rides can require retrofitting to meet safety requirements. Over
several years, it is not uncommon for new regulations to be implemented for all kinds of reason from concern
over lead paint to asbestos.
Manufacturers of the rides are far fewer in number than the parks who need the rides and they have not
changed in more than 20 years. Rides are important though their design is impacted by changing customer
views. A ride with empty seats is not of much value. Given that Six Flags is a seasonal business; the need to get
new rides in place can involve a lot of logistics issues and pressure.
Younger patrons who go to Six Flags and other theme parks want water rides and each year pressure for more
thrilling rides. Thrill seekers, a bigger piece of Six Flags mix of patrons (40%) than is true for other parks such as
Disney, constantly want exciting rides. For example, vampirism is now a hot item. Bite the neck rides with
simulations and the feel of fangs going in are one idea at Six Flags, but by next year, this group could want the
feel of being slashed in a slasher movie or torn apart by a werewolf. These changing needs affect where this
sizable percentage of patrons goes each year. Internal Environment Question Below
5. Culture is symbols, stories, traditions, and physical environment. Six Flags employees dress casually, no
uniform, gather together in a small Six Flags restaurant for lunch, but often come back late after talking too much
of how Six Flags had beat Disney many times in volleyball events. All four internal Env. categories are here.
The symbol is_________________________________. The tradition is _________________________________
The physical environment is _______________________The story is ___________________________________
BusinessBusiness - Other
Answer & Explanation
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Based on the information provided, I will now provide information related to the concepts mentioned in the article.
Industry Dominance and Revenue Generation
The theme park industry is dominated by large venues such as Disney and Great Adventure. These companies, along with 48 other large companies, generate about 85% of the industry's revenue. This indicates that the industry is not fragmented, unlike industries such as plumbing where no single company has a large market share [[1]].
Competition and Market Share
In order to increase attendance and take market share away from Six Flags parks, larger venues often change pricing and offer special attractions. Additionally, there are substitute forms of entertainment such as cruises, movie theaters, and casinos that compete with theme parks. The demand for theme parks, including Six Flags, is influenced by disposable income. As disposable income decreases, attendance at theme parks tends to drop [[1]].
Digital Entertainment and Changing Experiences
The availability of digital entertainment software and hardware has increased the pressure on theme parks to offer more simulations or reality-type experiences. These types of rides have the advantage of using less land and being easily changeable through software updates. However, the challenge lies in maintaining the thrill, personal feeling of risk, and group interaction that traditional rides provide [[1]].
Changing Demographics
The aging population in the United States has led to some fundamental changes in the age mix of visitors to theme parks. The older generation tends to prefer leisurely activities over thrilling experiences. This shift in preferences can impact the attendance and overall experience at theme parks, including Six Flags [[1]].
Legal Environment
The United States is known for being one of the most litigated countries in the world. Theme parks, including Six Flags, are not immune to legal challenges. Class action suits seeking damages or torts are common. The size of the awards in these cases can be substantial. Changes in attitudes among judges, juries, and legislators can also impact the legal environment within a 3-5 year strategic timeframe [[1]].
Government Regulations
Government regulations for theme parks vary from state to state. Typically, there are age and height regulations for rides, and some rides may require retrofitting to meet safety requirements. New regulations can be implemented over several years for various reasons, such as concerns over lead paint or asbestos [[1]].
Manufacturers and Logistics
The number of manufacturers of theme park rides is far fewer than the number of parks that need these rides. The design of rides is impacted by changing customer views. It is important for rides to be filled with patrons, as empty seats reduce their value. Given that Six Flags is a seasonal business, the logistics of getting new rides in place can be challenging [[1]].
Changing Patron Preferences
Younger patrons, including those who visit Six Flags and other theme parks, often seek water rides and thrilling experiences. Thrill seekers make up a larger percentage of Six Flags' patron mix compared to other parks like Disney. The preferences of this group can change from year to year, influencing where they choose to go for their entertainment. For example, the demand for vampire-themed rides may be popular one year, but the following year, the group may desire experiences related to slasher movies or werewolves [[1]].
Internal Environment - Culture
The internal environment of Six Flags includes symbols, stories, traditions, and the physical environment. Employees at Six Flags dress casually, without a uniform, and gather together for lunch at a small restaurant. They often engage in conversations about how Six Flags has beaten Disney in volleyball events. These elements contribute to the culture of Six Flags [[1]].
I hope this information provides a comprehensive understanding of the concepts mentioned in the article. Let me know if there's anything else I can assist you with!
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