On Thursday 6th July, 72 Year 10 Business students enjoyed a sunny day at Blackpool Pleasure Beach. Students learnt about the family owned business, with a net worth of over £9million, and how they have remained a private limited company to keep control of decision making and be able to invest millions of pounds of retained profit into their exciting rides.
After a brief history of the business, we studied strategies that the Pleasure Beach used to combat the threat of the declining UK tourist industry at the end of the last century, and the marketing techniques they use today to maintain their strong market position. With new rides costing in excess of £16m, and an advertising budget of over £1m a year, the business has to target customers effectively to generate an acceptable return on investment. We learnt about the market research information our wrist bands were generating, and how this helps to improve rides and services to generate repeat purchases for the business.
After a wealth of business information, the highlight of the day was conducting our own market research –testing out the rides!!
This was a fabulous day, which was well deserved by our students after working so hard in Business Studies this year.