Jan 18 2011
The Wonderful World of Disney
I have always been an avid fan of Disney, especially of Disney on Ice where various Disney characters skate and perform on ice. I go every year, and what’s intrigued me the most is how Disney is able to price their products so high, yet still have plenty of consumers buy their items. Snow cones in Disney figure mugs are sold at $15 each, which I find quite expensive. I understand that it’s part of the experience, but considering how expensive tickets already are, do you really need a mug as well?
Disney has been able to capture their target market of not only kids but their parents as well as they’re the ones who ultimately pay. Although they may not be tweens, they fit into the mould of what the textbook says about children and their market power: “much of their market power comes from tweens’ strong influence on family purchases”. Disney has had great success in their 4P’s of Promotion, Product, Price, Place: being able to price their products so high, yet giving the sense that the consumers are getting an even greater value for it. I guess “That’s the magic of Disney”.
As seen in his blog, http://www.rohitbhargava.com/, Rohit states that it’s important to “Create a Signature Event,” and I believe Disney has been able to do so very successfully with Disney on Ice showing at the Pacific Coliseum every year.
On top of selling mugs, the event sells gadgets with a spinning character on top lit by colorful lights. Costing as much as the mugs, these toys are stuffed into kids’ hands by vendors who play on the fact that parents will buy this novelty, no matter the price to make their children happy. Now that’s what I call Marketing. Did I mention that programs were $20?