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The main objective of ADA’s Masti Island will be to bring people together of all ages, cultures and backgrounds to enjoy the highest international park standards of quality, fun and entertainment. To establish Masti Island as a popular destination and one of the major tourist attractions . To serve the society and preserve the culture keeping in mind the customers values and beliefs. To earn maximum growth and profitability and recover the investment within a span of 5-6 years. To provide maximum customer satisfaction and quality services.
To provide high end security for the customers when they relax at our place. INTRODUCTION In today’s hectic world where people hardly find any time from their busy schedules like assignments, projects or meetings for recreational activities. Even though many recreational spots are available in and around Mumbai, still not a single one gives a complete package of Entertainment or fun. e. g. ESSEL WORLD & WATER KINGDOM have different identities and do come at different values. Also there are other parks like SURAJ WATER PARK, TIKUJINI WADI & KUMAR RESORT LONAVLA which are known for their water rides.
Every time in a family when the decision is to be made for a visit to park their arises a conflict on whether to go for a park with rides or visit a water park. Amusement Park industry is a CASH COW industry as people of all ages come under the target audience of the industry. As innovative technologies are blooming, this makes the industry evergreen and ever growing and would never fall back or go in declining stage. IDEA GENERATION & SELECTION Idea Generation In our brain storming session we discussed out various products and services for e. g.
A state of art CRICKET STADIUM, A MULTIPLEX CHAIN, MALL & an AMUSEMENT PARK. Screening & selecting the final product: We decided to drop the ideas for: CRICKET STADIUM No stadium was available in Navi Mumbai until the launch of Dr. D Y Patil Stadium which is a state of art stadium so even when the place was available we decided to drop the idea as even though when enough space was available the location was not suitable in comparison with Dr. D Y Patil Stadium. Also it required negotiations with the BCCI as all the rights of matches are strictly reserved with them. MULTIPLEX CHAIN
Multiplex is the trend of today, with lots of Multiplexes coming in market and even old theatres are shedding their skins and transforming in to the multiplex It will be a foolish idea to enter the market as there are already many players available in the market ready to pounce upon the customers. MALL Opening a MALL is a good idea but the prime locations available for the malls are being already taken over by major competitors hence opening a Mall at a non prime location would not generate sufficient ROI and to capture maximum market share in the sector is difficult to achieve. FINAL PRODUCT SELECTION
AMUSEMENT PARK Even though Amusement Park is a booming industry in abroad most of its fields are yet to be explored at large in India. The equation of the amusement industry is HIGH INVESTMENT = HIGHER RETURNS which was the core reason responsible for us to select the idea o develop an AMUSEMENT PARK at the outskirts of MUMBAI. PRODUCT NAME & REASONS TO ADOPT NAME OF PRODUCT: ADA’s ” MASTI ISLAND” Why Masti Island?? The name Masti island suggest that the island is full of fun , thrill and entertainment. The name is very short but catchy enough to attract the attention of the potential customers.
After the recommendations by Mr Sanjay Jumani the renowned numerologist and respected consultant for our organisation, we decided to go for the name. Location for Masti Island Well for this project, after a brief search we decided to opt for the land which would be nearer to Mumbai and should be available at a reasonable rate. Suddenly an idea struck our mind that why not develop an island near the Mandva beach, Alibaugh where most of the agricultural land has been drowned under sea for the past 10-12 years and that land has been declared as non agricultural land by Govt of Maharastra in the year 2002.
SCANNING OF LOCATION Alibaug is about 300 years old city. It is an idyllic town on the western coast of India, known as the Konkan region. It lies on almost the same latitude as the southern tip of Mumbai and is very close to this tip across the narrow strip of the Arabian Sea. By road it is a two and half hour drive from Mumbai and 35 mins by water (Ferry services from Gateway of India). Alibaug has a lovely beach that is unspoiled. There is a historic fort that is now in ruins just off the beach.
The hill range of the Western Ghats line the other side of the city giving it a unique character of greenery and the blue of the ocean. It’s a wonderful place to take a relaxed vacation with nothing on your mind. Alibaug is a place for a vacation. An unhurried pace of life is a small town with a beautiful beach and the green hills on the other side, free of pollution and noise. Notable features •Lovely beauty of Nature •Eye soothing greenery •Coconut trees standing in queue •Quick sandy beaches •Pleasant atmosphere •Twitter of birds •Ruffling of leaves and flowers •The mysterious sounds of waves The festival of colors in the sky MARKETING ENVIRONMENT Since India is poised to overtake China in population and reach distinction of being the largest national market in the world, we attract the maximum number of consumers by various means of promotion. The country include a large pool of educated and skilled manpower including over three and a half million engineers and scientist which further can prove to be an added advantage for our firm. The market environment includes the various market segments and different types of customers prevailing in that particular area.
The amusement park will be operating in a marketing environment which comprises of other competitors of the same field located in the nearby and the adjoining areas. Protection of environment and the maintenance of the ecological balance will be accorded top most priority. Industrial units will be encouraged to establish effluent treatment plants, develop sites for solid waste disposal, establish clean production centers. ‘SWOT ANALYSIS’ It is the most common and recognized form of analysis namely assessing the pros and cons for a particular firm or business unit.
It takes into account the strengths and weaknesses of the firm pertaining to the internal environment and opportunities and threats pertaining to the external environment. STRENGTHS •Scenic beauty of the Western Coastline, which draws tourists away from the crowded and polluted towns and cities. •It can attract tourists all through the year. •Hospitable people. •Tourist Place destination for most of the foreigners. •Financially sound •Innovative Rides •State of art technology used. •Well built security system •Emergency Response Team WEAKNESSES •No provision for parking available at any of the coast Limited ferry services available OPPURTUNITIES •The concept of amusement park is gaining popularity in India among various classes of people. •Increased disposable incomes of the Indian middle class. •Developments in the technology used THREATS •New entry to the market •Well established competitors exist. RECOMMEDATIONS ?Even though the concept is not new but for a firm which has no previous experience it becomes slightly difficult to enter in the pool of market where big fish like Essel World already exist, so using extensive promotions to capture the target audience. Promoting the concept as a place where you can release your stress by the way of thrill, fun and adventure. MARKETING STRATEGIES Marketing strategy forms an integral part of marketing planning. Marketing strategy is the complete and unbeatable plan, design specifically for attaining the marketing objectives of the firm or business unit. The marketing objectives indicate what the firm wants to achieve, the marketing strategy provides the design for achieving them. STP-SEGMENTATION, TARGETING AND POSITIONING MARKET SEGMENTATION
On the basis of our marketing mix , we have further classified the market in four different segments. Children- This category includes the school going children below 12 years of age. Teenagers- This category includes adolescents or young adults, 13 years and above. Families- The third category, families, comprises of adults, family members and couples. Tourists- It refers to outsiders, who visit the place for adventure, nature and beauty. TARGET MARKET According to the market segmentation, our target market will be focused on teenagers, school and college going children.
This is because of the fact that tourists will visit the amusement park during the peak season whereas children and teenagers are bound to throng the park all round the year. Our promotional strategies will be more focused on luring the target customers towards the amusement park. The students or the teenagers, on school trips or leisure trips will be mostly accompanied by their respective teachers or family members as the case maybe, which will in turn help generate more revenues and result in a profitable venture. POSITIONING
The amusement park is set to open in the outskirts of Mumbai on the island near Mandwa Beach Alibaug. Alibaug is a town on the Konkan coast of Maharashtra near Bombay. It’s best known for its historic marine forts, fine beaches and clean water. It is only 19 kms by sea situated at South of Mumbai port covered with Coconut , Areca trees and lush greenery. Nowadays, Alibag has become a very attractive tourist halt because of it’s beautiful gardens planted with Coconut, Areca trees. It has a pleasant and pollution free atmosphere. 7P’s of MARKETING
PRICING One way a firm may differentiate its products from others produced by the company or by competitors is through pricing. Customers will readily value the quality of a product or service by the prices assigned to them. For luxury goods, the price premium may be in part due to more expensive materials or an increase in labor costs, but both firms and customers alike are aware that “paying for the name” is a reality. In other cases, firms may price their products at various levels to provide price points appealing to all of their target markets.
While the impressions of quality, performance, or other such attributes may play a role in what a consumer prefers, pricing plays a much larger role in the brand identity of a good or service than simply being the price of a good. RELIANCE believes in Penetration Pricing to achieve maximum market share as it did with the mobile segment. Park admission and entrance rate will be as per height levels and daywise. HEIGHT (in feet)Rate (in Rs. )* Below 3’3″ WEEK DAYSFREE 3’3″- 4’5″225 4’5″ & Above299 Below 3’3″ WEEK ENDSFREE 3’3″- 4’5″275 4’5″ & Above349 *Rates are inclusive of Ferry Service from Mumbai(Gateway of India) or Mandwa Beach.
PRODUCT ADA’s MASTI ISLAND consists of various slides, water rides, adventure, excellent food facility and show house available. It is designed in 40 acres of area on the developed island near Mandwa Beach. The park focuses on entertaining families with children with amusement rides and various other facility available. A state of art technology used for building the park under the guidance of experts from EURO DISNEY Punchline: Masti Island…….. where life meets entertainment PLACE ADA’s MASTI ISLAND is located on an island near Mandwa Beach, Alibaug. Masti Island is just 20 kms(by sea) away from Mumbai.
Alibag has become a very attractive tourist halt because of it’s beautiful gardens planted with Coconut, Areca trees. It has a pleasant and pollution free atmosphere. PROMOTION Promotion is a paid form of mass communication using a media. The media which we will be using to launch and propagate the awareness of our product are as follows: > Print: Newspapers & Hoardings Newspapers: During the first 6 months major dailies across India such as Times of India, Loksatta, Indian Express, Maharashtra Times, Mid Day, Mumbai Mirror etc. will carry prominent eye catching visual advertisement to create awareness and arouse interest for Masti Island.
Hoardings: Various hoardings and posters will be put up in front of the various schools and colleges and also across the town. Pamphlets will be distributed along with the local newspapers. Promotional Offers Speacial discount of 50% on week days will be provided to school & college students as an promotional offer (for first six months) to attract more crowd on week days Contests will be conducted through news papers through which free entry will be provided for the winners. Speacial events like ROCK CONCERTS or performance by LIVE BANDS will be conducted to attract teenagers PEOPLE
An essential ingredient to any service provision is the use of appropriate staff and people. Recruiting the right staff and training them appropriately in the delivery of their service is essential if the organisation wants to obtain a form of competitive advantage. Consumers make judgements and deliver perceptions of the service based on the employees they interact with. We have selected the staff as per our requirements and the necessary standards with lots of MBA’s, Engineers to lead at the front. Our Staffs have the appropriate interpersonal skills, aptititude, and service knowledge to provide the service that consumers are paying for..
PROCESS Process includes all the hi-tech facility used to establish and develop the park in respect to innovative rides, modern pools, hygienic food court and hi-tech water reserve plants, hi-tech security and machineries. The process needs to be such that it offers the best to the visitors at competitive prices and is technologically ahead and proves to be a competitive edge for the amusement park. PHYSICAL EVIDENCE Physical evidence is an essential ingredient of the service mix, consumers will make perceptions based on their sight of the service provision which will have an impact on the organisations perceptual plan of the service.
The kinds of rides available are designed to suit the need of customer and no congestion of space is found in any of the rides may it be small or big. PRODUCT RECOMMENDATIONS & CONCEPT PLAN The site is truly unique and exclusive, perhaps unlike any other available in India. Accordingly, it offers potential for a development of the highest quality and anything less than an outstanding product here would be an injustice to such a valuable site. The land value ascribed to the site, as well as the financial terms of transfer, necessitates a development that maximises revenue and profit potential.
DETAILS: 34 exciting Rides 12 splashing water rides Magic house Food Court Toy Shop Game Parlour MIND BLOWING RIDES We have 34 different rides which will entertain the public at large . 8 rides will be speacially designed for children, 15 rides for adults and rest 11 can be enjoyed by whole family. Rides include ROLLER COASTER, DASHING CAR, MINI TRAIN(for children), ZOOM ZAM, TWISTER, ZIG-ZAG, GHUM-GHUMAIYA and many more. The largest fall (150ft drop) will be the main star attraction. MAGIC HOUSE
Magic is quite popular among the children and with renowned magician like Urgesh Sarkkar (Son of P C SARKKAR) we have worked upon a magic house where the kids would even learn to perform magic tricks WATER RIDES The most important aspect of our park will the innovative and thrilling water rides. It will be the main attraction of the park. The main target for this will be the students. There will e round about 12 modern slides and five major pool, three for the slides and water games, one will be for children below 11 years and another will be a wave pool.
The star attraction will be a 90ft slide which will make as if you are in the heaven. FOOD COURT There will be five food courts to fulfill the appetite of customer. In this will be having various food items available for the customers with proper hygienic environment. The food courts will serve delicious dishes ranging from PUNJABI TADKA, MARATHI JHATKA, ANNA’s SPEACIALITY, CHINESE CUISINE and mouth watering delicacies from BENGAL. TOY AND SHOP Toy shop will provide the facility to attract more n more children towards it and is a good source of income for us.
It covers all type of portable toys and various other items and also a gift gallery. GAMES PARLOUR The GAME Parlour will contain indoor games such as POOL, VIDEO GAMES, BOWLING ALLEY, AIR HOCKEY, FOOSE BALL and other interactive games. These games will be coin operated games and will be charged separately depending upon the game. IMPLEMENTATION AND TIMETABLE The amusemenet park is anticipated to be completed in 13 months. This time duration includes time required for obtaining license, funds as a part of loan and investment from private investors respectively.
Also, time involved for importing the rides and other equipments for the park needs to be considered. lastly, ample amount of time is required for construction setup as well as testing of rides. Also, within that period water supply facility will layed out and same for the electricity supply. Large plant for both the things will be setup and acordingly funds will be utilised. TIME TABLE DAYSTIMINGS WEEKDAYS10am-7pm WEEK ENDS & HOLIDAYS10am-9pm FINANCIAL CONTROL Financial control requires to measure the actual cost which will be incurred with the estimated cost.
It reqires proper evaluation and estimation of the cost which will be going to incurred. Further we have have made a budgeted financial cost of the project with which in future evaluation can be done. FINANCIAL ANALYSIS In this section we present the estimated project cost for the development as a whole and for each of its components, as well as the operating financial projections. Assumptions for operating revenues and expenses have been detailed, resulting in a profit and loss statement for the project, while financial analyses indicating cash flow and returns on investment forecast have also been provided. Estimated project cost
Based on the statement of areas derived previously and based on the suggested concept, we have drawn up a statement of costs for the development of the Park Estate. This development cost includes the following elements: •Food Court – Civil and related costs and interiors •Infrastructure for the entire complex – water supply, electricity, landscape and hardscaping, •It has been assumed that the PWD will undertake resurfacing of access roads as required. •Picnic areas •Activities – These costs will be borne by concessionaires Based on the visitation figures arrived at above, revenue assumptions were made for each source of revenue.
These have been presented in the section below. Revenue from entry fee It is the major source of the revenue which will be generated. It has been assumed that there should be a significant entry fee to the complex to pay for its development and continue maintenance to the highest standards, similar to the concept of ‘user charges’ for infrastructural facilities. Revenue from Food Courts Revenue earned from food courts will be high as no outside eatables will be allowed inside the park and the rates for the menu in food courts will be 30% higher than the regular rates.
So the customers are imposed to dine at our food courts. Revenue from Indoor Games The indoor games will be charged as they are coin operated and it will fetch an extra revenue for us. EXPENSE ASSUMPTIONS FOR FINANCIAL PROJECTIONS The following expense assumptions have been made in estimating the financial performance of the proposed project. SALARIES AND WAGES We anticipate that the project will employ average of 150 staff who will be paid an average monthly basic salary of Rs 5,000/- per month including benefits in the first year. We have assumed that the average salary will grow at 5% p. . UTILITIES We anticipate that the cost of utilities at the park would be high, given the high requirement of water which may have to be purchased, as well as the energy costs due to display and yard / security lighting. We have assumed a cost of Rs 400,000/- per month in the first year, growing at 5% each year thereafter. REPAIRS AND MAINTENANCE We anticipate that the expenses on this head would be of the order of 2% of total revenues generated. This assumption is based on the performance of similar developments elsewhere in the country. ADMINISTRATIVE COSTS
We have assumed that general administrative costs would be monitored carefully, and be limited to 5% of total revenues generated by the project. These would include rates, taxes, insurance and other administrative costs such as communications, audit fees, etc. RECOGNITION OF RISKS Our estimates of market and financial performance assume a number of circumstances that we consider likely to prevail during the period under review. We consider it prudent, however, to conclude our evaluation but itemising the main areas of risk associated with the achievement of the revenue and expenditure we have estimated.
In our view, the following represent the main areas of risk: that project costs assumed by us may prove inadequate due to unknown and unexpected technical requirements during the restoration and reconditioning of the buildings; that the park does not achieve the level of ambience after redevelopment, as assumed in this report; that an adverse change in the political and/or economic conditions results in a decline in demand, or non-achievement of demand through reduced commercial and tourist visitation; demand does not eventuate as estimated or the estimated demand levels are not captured by the project development; that significant addition to the supply of quality hotels occurs in the destination area so as to create an oversupply, resulting in a decline in market performance. Our estimates of performance are based on none of these circumstances arising and are a reflection of the market conditions, which we believe most likely to eventuate during the period under review in this report. That said, it must be recognised that all of our estimates are based on our best judgement at this time.
The overall market outlook is not easily predictable and actual performance may, inreality differ materially from that estimated in this report, with a consequent impact on financial performance. FACTORS CONSIDERED Following factors have been considered for estimating the project cost: •Land development including landscaping, pathways, roads, water bodies and so on •Type of construction for each project component and identified facilities •Type of exterior & interior finishes •Utilities provisions as per National Building Code (NBC) standards •Central air conditioning / Unit air conditioning as required •Electro-mechanical utilities with 100% Diesel Generator (DG) power back-up nd distribution network •Purified Water Generation & Distribution •Waste water and solid waste management SPECIFICATIONS List of amenities broadly considered is: •Pest control treatments •Elegant spacious decorative entrance •Road- All cement concrete paving block with pre-cast kerbs as per design. •External Illumination with exclusive modern light fittings •Fire fighting systems •Power with 100% captive power backup •Centralized water treatment Plant and Hydro-pneumatic water supply system •Centralized waste water treatment unit •Centralized solid waste management system •Filtration unit for swimming pools / lake •Artifacts, signages and logos •Audio visual system Centralized cooking gas storage ( gas bank ) and distribution system •Landscaping and plantation. •CCTV System •Mini Train & Bus for commuting inside park ESTIMATED COST OF DEVELOPMENT HeadBasisAmount(Rs Lacs) Land and site development Cost of land 40 acre @ Rs. 7 lakhs/acre 280. 00 Landscaping & Site development Access road beautification 15. 00 Sub-Total 295. 00 Plant & Machinery Kitchen/food court setup 85. 00 Water Supply System 120. 00 Standby Power 90. 00 Transformers/Substations/Panels/Supply 500. 00 Fire fighting Equipment 25. 00
Telephone system 10. 00 Water Slides 1100. 00 Rides 5500. 00 Sub-Total 7430. 00 OTHER BUILDINGS AND HOUSE Magic house 20. 00 Games parlour & Indoor Games 50. 00 Toy Shop 15. 00 Sub-Total 85. 00 Fees To architects & other consultants 300. 0 Sub-Total 300. 00 Security Charges CCTVs50. 00 Contract to TRIG Security (on yrly basis) 60. 00 Sub Total110. 00 Preliminary & pre-operative Expenses Travel and establishment 5. 00 Security Deposits3. 00 Marketing 250. 00 Insurance 2000. 00 Sub-Total 2258. 00 Total cost of Project 10478. 00 NOTE: The loan regarding to our estimated budget is been asked from State Industries Development Bank Of India (SIDBI), at the exsisting loan rate from Maharashtra Branch. The loan shall be to the extent of 50% of the total estimated budget.
Another 25% will be the investment by private investors and rest will be from the capital introduced by the Board of Directors or Owners of the Masti Island MONITORING PROCEDURES To monitor the procedures and the performance of our efforts there will a proper feedback responses from the customer to know the weakness and the areas which require improvement or control. Further, for feedback every customer will be provided with one feedback form which he or she has to fill up and submit back to us at the time of exit. With the help of this we will be able to monitor or performance and procedure thus maintaining proper evaluation and control system. An example of a feedback form is shown below: FEEDBACK FORM
Masti Island is committed to providing the best in family entertainment. This goal can only be reached with the assistance of people like you! Please take a few moments of your time to complete this survey regarding your visit to Masti Island. 1) What was your main reason for visiting Mast Island? •Family/personal tradition (visit every or almost every summer) •Received discounted/complimentary tickets •School Trip •Children asked to visit •Other 2) How many hours did you spend in Masti Isalnd during your visit? •One-two •Two-four •Four-six •Six or more 3) How was your visit planned? •Spontaneous decision (no planning) •Planned up to one week in advance •Planned one to two weeks in advance •More than above ) What is your opinion on the price you paid for each person admission to Masti Island? •Just right •Too expensive •Too inexpensive •Not sure •No opinion 5) Did you use a promotional discount on your admission(s) to the park? •Yes •No 6) Will you visit Masti Island again during the same year? •Yes •No •Don’t know 7) Please tick your opinion of the quality of customer service you experienced during your visit while patronizing food service establishments: •Poor •Fair Average •Good Excellent •Not applicable 8) What is your income range per month? •Up to 10000 rupees •15,000 to 30000 •30,000 to 50000 •50000 and above Name: Address Phone No. Thank you for your time and opinions!