Even with all its diverse assets, in 2010, the Walt Disney Company was ranked as the number one entertainment corporation in the world (Stein, 2011, p. 3). Even amongst the changes and growth Disney has managed to maintain the foundation of its business; the skill of family-friendly storytelling which resides at its core (Stein, 2011, p. 3). .
Demand Model .
Prices, Tastes and Preferences.
Disney or more specifically, Magic Kingdom produces entertainment which, to the consumer, is a final good. The average consumer that visits Magic Kingdom is a family of four with children between the ages of 0-9 years. For this average consumer to spend a day in Magic Kingdom it will cost them $408.98 before tax and without any discounts ("Magic Your Way: Facts," 2014). This price does not include food or accommodations. .
Consumers visit Magic Kingdom because their tastes and preferences lean towards an interactive family friendly atmosphere. Although anyone with an ounce of childhood innocence will find themselves smiling and laughing as they meander through the various rides and attractions. .
Technology.
To make all things possible Disney uses Radio Frequency (RF) technology. RF technology is found throughout the world in everyday items like credit cards, video game controllers, keyless car entry, fitness wristbands and much more ("Help Center," n.d.). Disney uses RF technology to enhance the consumer experience at Magic Kingdom. RF technology has been in use at Magic Kingdom for many years. They use it for such things as the ride and parade control float systems and laundry and costuming services. MagicBands and RF cards also use this technology to allow consumers to enter their Disney Resort hotel room and all the Walt Disney World parks with valid park admission. This technology also allows consumers to make purchases at select locations, and access the FastPass+ attractions ("Help Center," n.d.). Magic Kingdom is continuing to find ways to expand uses of this common technology to create new and amazing guest experiences and enhanced guest services ("Help Center," n.
