Tatiana Posse

Marketing Analysis

1. What company did you choose, and why?

The Company I chose is Madame Tussauds, I chose this company because it’s a fun
entertainment company which has a long history and it’s known internationally and it has
various museums around the world. Today Madame Tussauds wax museum has become a
major tourist attraction in London and in other cities where it is located; currently it displays
waxworks of historical and royal figures, film stars, sports stars, singers and famous
murderers. Nowadays Madame Tussauds has branches in cities all around the world like
Beijing, Tokyo, Sydney, Amsterdam, Berlin, New York, and others.

2. What market segmentation do you propose (based on the company’s profile and
industry)?
The people in this segment are much more interested in joining different cultural activities;
they would visit the place because they have heard of it, the have visited it in other country,
or simply by the fact that going would be “cool”. Also this segment will be in capacity of
paying the ticket to enter, for example, the price of the ticket in Madame Tussauds New York
is about 30 dollars, it is not too high but not everyone can afford it.

The target market are people mainly teenagers but also families and people interested in
different cultural activities, the target might be similar to the target of entertainment shows
like the Cirque Du Soleil, the people that attend this type of events are the same people that
would visit a place like Madame Tussauds. Like said before, the target market of this place
would be people of middle and high class, people with an average income of about $1.000
USD. The life cycle of the target market of the museum are families that in a weekend go and
lunch in good restaurants, go to shopping malls, go to watch a movie, attend concerts, plays,
etc.
People that go to this type of events or places is people in search of recognition, that has a
wealthy lifestyle, and know what they will find if they go to a place like this. Also the fact of
going to a place that has recognition around the globe and that is located in some of most
visited cities in the world gives added value.
 Tatiana Posse

3. What types of Buyer Persona did you define, and why?

I defined principally this buyer persona because it’s the most popular type of people
that go to the Madame Tussauds. It’s not the millennium type traveler that is
backpacking because this wouldn’t be under this type of traveler’s budget. This kind of
tourist is more likely the type who doesn’t like to stay at hostels and do all the
backpacking, they prefer to stay at hotels, be comfortable, it’s who most likely live a
middle to high class live.

4. How will you measure the brand image across markets (if applicable*)?

SWOT ANALYSIS
 Tatiana Posse

PORTERS FIVE FORCES ANALYSIS

 THREAT OF NEW ENTRANTS:

o As the industry have high profits, many new entrants will try to enter into the
market. However, the new entrants will eventually cause decrease in overall
industry profits.
o High capital requirement
o Access to suppliers and distributions
o Tourists seek for new experiences.

 THREAT OF SUBSTITUTES:
o Lower prices of other touristic attractions
o Product substitutes like Cirque du Soleil
o Other type of wax museums like the one in Barcelona

 DEGREE OF INDUSTRY RIVALRY:

o Competitive advantage, the Madame Tussauds in being in this type of industry
for a long time so it is difficult to directly compete with the museum.
o Continuous innovation
o Sustainable position in competitive advantage
o Level of advertising, in every city where the museum is at is advertised as one
of the must go touristic spots.

 BARGAINING POWER OF BUYERS:

 Tatiana Posse

o This product actually doesn’t have many bargaining power of buyers since it
doesn’t have many other alternatives just the same.

5. Which sources did you use for the analysis if the topics mentioned above?

 The Student Room. (2008). The Student Room. Recuperado el 08 de 03 de 2019, de Edexcel
AS Business Studies: Unit 1: Tussaud's Group Case Study Thread!:
http://www.thestudentroom.co.uk/showthread.php?t=498980&page=4

 Madame Tussauds: Why go? (2005, November 11). Retrieved from

https://www.dailymail.co.uk/travel/holidaytypeshub/article-594352/Madame-Tussauds-
go.html

 Madame Tussauds. (2016). Madame Tussauds. Recuperado el 9 de 11 de 2016, de

https://www.madametussauds.com/new-york/en/about/about-us/