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Francis Ramiandrasoa Marie-France Guay Neal Topf Hector Mendoza Yujin Kume O nce upon a time... Vision Initial ooops!! Where they failed Financial impact Magic solution Identify Customers Communication Enhance Distribution Channels Increase Employee Satisfaction Improve Service

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Francis ramiandrasoa marie france guay neal topf hector mendoza yujin kume l.jpg

Francis Ramiandrasoa

Marie-France Guay

Neal Topf

Hector Mendoza

Yujin Kume

Once upon a time...


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Vision

Initial ooops!!

Where they failed

Financial impact

Magic solution

Identify Customers

Communication

Enhance Distribution Channels

Increase Employee Satisfaction

Improve Service

Partners & Innovation

Questions and Answers


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Vision


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“Bringing Disney Magic to life for our guests... through Creativity, Initiative, Humour... Excellence and Realism”

Irrespective of your age, color of your skin and content of character


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Initial ooops!!


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  • Recipe approach

  • Customer

  • Price

  • Relations with tour operators

  • Employee motivation

  • Service efficiencies (no wine, long lines)

  • Commercial partners

  • Power of “Disney” brand

  • Damaged Image, “Cultural Chernobyl”

  • Low revisit rate 26%

Where they failed


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Who’s the target?

160 km

16 million people

320 km

109 million people

2 hour flight

310 million people


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Where the money lies,

  • Attendance

  • Spending per guest

  • Hotel Occupancy


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Although they failed to meet the initial forecast…

11,000,000

Attendance has grown since 1994

Making Disneyland the #1 tourist attraction in Europe

  • …but the problem lies in,

  • spending per guest

  • occupancy rate


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Initial forecast

Following price cut

Initial forecast

Actual

Prices initially too high:

spending per guest

hotel occupancy


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Debt restructuring required

Equity: 20.7b

Debt : 10.0b

Total : 30.7b

Equity: 8.7b

Debt : 18.5b

Total : 27.2b

Financial Outcome

  • Return to profitability

  • drastic cuts in operating costs

  • price cuts

  • 18 month interest free

  • 5 year moratoria on royalties & management fees


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FF 165

1992

before opening

FF 72

At emission 1989

FF 11.40

1996

FF 7.55

Average 1994

Weak financial performance reflected in stock price


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Magic solution


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Who

What

How

Focus on selling to...

  • Rides

  • Merchandise

  • Restaurants

  • Hotels

  • Characters

  • Parades

  • Convention centers

  • Movie theaters

  • Shopping malls

  • Magic

  • Entertainment

  • Diversion

  • Fantasy

  • Belonging

  • Youth

  • Leisure

  • Adventure

  • French/Non-French

  • Kids

  • Families

  • Adults without kids

  • Elderly (retired)

  • Adolescents

  • Corporate

  • Paris bound travellers

  • School trips

...satisfying the needs for...

*

*

...through its


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Who

What

How

Focus on selling to...

  • Rides

  • Merchandise

  • Restaurants

  • Hotels

  • Characters

  • Parades

  • Convention centers

  • Movie theaters

  • Shopping malls

  • Magic

  • Entertainment

  • Diversion

  • Fantasy

  • Belonging

  • Youth

  • Leisure

  • Adventure

  • French/Non-French

  • Kids

  • Families

  • Adults without kids

  • Elderly (retired)

  • Adolescents

  • Corporate

  • Paris bound travellers

  • School trips

...satisfying the needs for...

*

*

...through its

Ending with...

=


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Implementation

Communication

Tour operators

“Happy cast” & Service

New offers

Financial

Short-term

Long-term


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Databases

TV

Magazines

Coca-Cola

Movies

Toys

1 - 18

Potential Visitors

Getting the message across

Direct Marketing

Corporate Partners –

Sales

Promotion

Word of mouth

General Advertising

Merchandising


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Past hotel reservations

  • Disney direct sales21%

  • Telemarketing

  • Direct mail

  • Web

  • Corporate partnerships

  • Merchandising 25%

  • Walk up

Channel strategy

Tour operators54%

Potential

Visitors


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Channel strategy

  • Tour operators54%

  • Improve relations with agents

  • Maintain favorable commission programs

  • Offer all-inclusive packages

Potential

Visitors


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The increase in employee motivation...

Each interaction between employee and the visitor has to be a “Magic Moment”

  • Job rotation

  • Decentralized organization

  • No more foxes

  • Team building

  • Broad professional training to younger employees

  • Monetary and Non-monetary incentives

  • Peer evaluation

...increases customer satisfaction...


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The increase in customer satisfaction also depends on...

“Magic Moments” are everywhere !!

  • Appearance / cleanliness

  • Pleasure / excitement (parades, rides)

  • Reduce waiting time

  • Improve restaurant selection (Fast-food)

...results in a higher revisit rate


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Current guests

New guests

short term

long term


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The Proposed Financial Plan is…

  • Short-term

  • maintain current admission prices

  • no further operating cost cuts

  • Long-term

  • negotiate progressive repayment of royalties scheduled to begin 1999 (1% in 1999, 2% in 2000…)

  • resuscitate and increase partnership agreements

  • refinance debt in 1999


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The 1997 projected results are…

millions of French Francs


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The moral is...


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