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Six flags operates in an industry dominated by some other large theme park venues including Disney and Great Adventure. About 85% of the industry revenue is generated by the 10 largest companies and those firms don’t change often. Thus, it is not fragmented like, for example, the plumbing industry where no one has a large share. It is common for larger venues to change pricing and to have special attractions to increase attendance and to seek to take attendance and share away from Six Flags parks. There are also substitute forms of entertainment such as cruises and movie theaters and casinos. Gasoline prices have continued to rise. Theme park demand varies substantially with disposable income much as vacations to resorts and hotels vary. As disposable income goes down, attendance drops. Disposable income often changes from one year to the next, sometimes trending up; sometimes trending down.
In a PEST analysis of the external environment, we consider the general environment factors of (P) political-legal, (E) economic, (S) sociocultural and (T) technology, thus called PEST, per slide set 3 (Environments, Environmental Change, and Corporate Culture) and the video discussion of it.
In the description, which PEST factors is clearly discussed?A. Economic
B. Sociocultural and Technology
C. Sociocultural
D. Political-Legal
E. Economic and Sociocultural
F. Technology
G. Political-Legal and Economic
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