The MKOR team enthusiastically received the proposal to collaborate with a private investor interested in assessing the market opportunity for a greenfield investment in a theme park in the Western Region of Romania.
A project of this magnitude requires objective figures and information, as accurate as possible, to validate the business idea, and to further substantiate the business plan and strategy. Therefore, the MKOR specialists proposed a mixed methodological approach to identify the potential of developing such a business from scratch in the western area.
The research results not only facilitated market sizing, but the revenue estimation of the new theme park considering multiple scenarios. Moreover, the consumer data contributed to the profiling of potential consumers. These results were accompanied by strategic recommendations for market positioning.
Measuring the Market Potential for a Theme Park in the Western Region of Romania
The aim of the study was to identify the potential of the western part of the country for a greenfield investment in a new theme park.
We started by identifying the context and development trends in the area, analysing socio-economic indicators and hundreds of pages of local, regional and national strategies.
At the same time, we mapped the direct and indirect competitors in the area, including those outside the country.
While our desk research specialists collected and summarized the most relevant information, the quantitative research experts launched and analyzed two consumer studies in parallel:
- In the first stage we accessed the general population, to estimate the market potential for the new theme park, the market shares of the competitors, but also to identify the target audience for the leisure complex.
- In the second stage we directly addressed the target audience for the theme park, in order to identify habits and attitudes, uncovering vital information for the marketing and positioning strategy of the future complex.
Data collected from primary and secondary sources was used to estimate the existing and potential market, together with the financial consultant from our team. In this respect, the challenges of the project consisted in modeling and forecasting the evolution of the leisure market in the region, as well as forecasting the revenue of the new theme park, on multiple scenarios, depending on the macroeconomic factors and its positioning.
Finally, by aggregating the secondary and primary data we were able to provide actionable responses and strategic recommendations regarding: target audience, consumption habits and preferences and means to address them, key success factors for a theme park and financial forecasts in accordance with the market positioning strategy.
The Research Objectives
In order to test the market opportunity of a greenfield investment in a new theme park in the targeted area, we considered a series of aspects that would provide us complete information both at market and consumer level:
- Visiting behavior for theme parks
- Consumer behavior for leisure services provided by theme parks
- Market potential for a new theme park in the Western Region: intention to visit
- Consumer profile of theme parks
- Market dynamics trends in the leisure industry
- Analysis of factors that may influence the development of a new theme park in the Western Region (PESTLE analysis)
- Analysis of the competitive environment. Market shares
- Opportunity analysis: SWOT and Porter, to define the factors that influence the success of a new theme park
- Volume and value estimate for the existing market
- Market potential forecasts for the future theme park. Multiple scenarios of macroeconomic risk or market positioning.
About the Research
In order to capture the market potential for a theme park in the analysed area, MKOR selected a complex research methodology:
Target market: Western Region, Romania
Research tools:
- Desk Research
- Consumer survey: online opinion poll (CAWI)
- Financial analysis and forecast
Sample: In order to respond as objectively as possible to both the objective of market sizing and that of identifying the behavior of theme parks consumers, two different samples were selected:
- General population: representative sample for the urban population of the Western Region, based on gender, age and geographical distribution.
- Target audience: representative sample for the urban population of the Western Region, based on gender, age and geographical distribution.
Sources: Official data of statistical institutions, official forecasts of regional and national macroeconomic evolution, sectoral strategies or strategies for local and regional development, other studies and public documents.
About the Client
The beneficiary of the opportunity study is a private investor who has identified a market potential for investment in the greenfield project in the Western Region.
Client recommendation
As this is a project still in early stages, our client wanted to keep the data confidential.
Upon request, we can provide additional details as well as the letter of recommendation from the client.
Contact us for your project
For us, market opportunity analysis are those challenges in which we put all our enthusiasm, know-how and responsibility, because we understand that we have the privilege of laying the foundation for a future business.
Tell us if we can help you too! We, the MKOR specialists, assure you that:
- We will choose the right methodology to achieve your objectives,
- We will conduct the project at a high quality level,
- The end results will exceed your expectations.
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MKOR studies in the context of market uncertainty
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That is why, at MKOR, we respond to the need for data anchored in the current reality through the first live market study in Romania – Consumer Trends.Live. This complete market intelligence tool is the only resource that constantly provides data on the analyzed markets and consumer behavior, no matter what happens.
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