About

Summary

 

The developers of an innovative underwater attraction needed expertise in nautical tourism, the blue economy, business planning and marketing strategy. They asked Acorn to assist them to define and position their concept, which was underpinned with strong brand values based on the 4E’s of Economy, Ecology, Entertainment and Education. Their vision was closely aligned with the UN Sustainable Development Goal 14 – Life Underwater and the European Union’s Blue Growth Strategy.

 

This exciting concept needed to be rigorously market tested, potential coastal sites located, and investors identified.  We interrogated the developer’s initial business plan, building a model to test it against relevant niche and complementary market segments. This included consultation with trade experts and tour operators. The market and competitor analysis and business planning process clarified the product’s Unique Selling Point (USP) and the point of difference from potential competitors. Priority locations and potential investors were identified, and a detailed sales and marketing plan was produced to enable the creator to launch the product on the market.

 

Our Approach

 

We ensured that the development of the product and the business structure was based on robust market segmentation. Five core dive market segments were used to model the financial scenarios, together with the complementary ‘family fun’ market segment which was essential to the viability of a range of additional services.

 

The market research was used to develop trial packages that were tested through interviews with specialist dive tour operators to establish their criteria for selecting dive locations for their tours and the additional facilities and services required to attract this market including innovative ‘edu-entertainment’. The business plan also assessed the different options for operation and ownership.  

 

This rigorous market driven approach enabled Acorn’s consultants to clarify the attraction’s USP and its point of difference. It was essential that the positioning of the attraction was underpinned by the 4E brand values which had to be consistent across all elements of the operation in order to generate clear marketing communications.

 

To ascertain suitable locations for the attraction, a set of criteria were defined, and a location matrix used to refine a list of the priority destinations.

 

Outcome

 

The potential locations for the attraction informed the long list of potential investors and sponsors. The outcome of our consultancy was to provide the developers of the attraction with a market tested sales and marketing plan, which included target destinations, investors and a robust business model.