Market DevelopmentIf product develo

Market Development
If product development is seen to be too costly one other option is to use the same product line but introduce it in a new market. It is required that new segments must be identified, in order to enter an entire new market. This could be an option; however, it seems hard that the same products will be able to appeal towards newer segments in the Hong Kong area. A new geographical location can be considered, in Ocean Park's case it will have to be a new country. This will require a successful internationalisation strategy. However, this is not recommended, as this will require massive capital investment and use of time and resources. Therefore growth in the existing market is recommended.
Diversification
This will take Ocean Market away from both its current products and market. This is therefore not an option at all. This will require a new concept and a new market; therefore the organisation Ocean Park will not exist anymore. Therefore competing against Disneyland will not be an option, as you will leave the market entirely and give your market share to Disneyland.