The Disney Company has always been associated with entertainment and magic. Over the years, it has built a brand and reputation that is synonymous with family fun and happiness. However, this has not been an easy feat, and it requires a robust business strategy to maintain the momentum. The company is always looking for innovative ways to improve its operations and secure its future.
In this article, we will delve into the Disney business strategy for 2022 and analyze their future plans. We will explore how they plan to stay ahead of the competition, retain their customer base, and expand their market reach.
Expanding the Business Horizontally
Disney is known for having various business divisions, including movie production, theme parks, cruises, and merchandising. As part of their strategy, Disney plans to continue expanding horizontally. This means they want to keep adding new offerings to their existing business divisions. For instance, they plan to release a new streaming platform, Disney+ that aims to compete with the likes of Netflix and Hulu. Additionally, they plan to expand their park offerings with new rides and attractions.
Retaining Existing Customers
Disney has a loyal customer base that visits their parks, watches their movies, and purchases their merchandise. To retain their existing customers, they plan to continue providing an unforgettable experience. This means improving the quality of their products and services and ensuring that their employees are well trained to help customers have a great time. Furthermore, Disney uses customer data to understand their preferences and needs, enabling them to tailor their offerings to meet these demands.
Attracting New Customers
To expand their market reach, Disney plans to attract new customers with their marketing campaigns. For instance, they plan to target a more diverse audience, including millennials and Gen Z. This will require using social media effectively to engage with these audiences. Additionally, they plan to collaborate with other brands and create cross-promotional campaigns to bring in new customers.
Innovation and Technology
Disney recognizes that technology is continuously advancing, and they need to keep up with these changes to remain competitive. This means adopting new technologies to improve their operations, such as creating personalized mobile apps that help customers navigate their parks better. Additionally, they plan to use augmented and virtual reality technologies to enhance their park experiences further.
Conclusion
The Disney business strategy for 2022 is focused on expanding their business horizontally, retaining their existing customers, attracting new customers, and embracing innovation and technology. By doing so, they plan to stay ahead of the competition and secure their future. With their approach, it’s no wonder that Disney continues to be a top performer in the entertainment industry.
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