Financial Feasibility, Market Analysis, & Marketing & Communications Strategy for a Proposed Underwater Sculpture Park in Tobago
Tobago, with its pristine waters and rich marine biodiversity, presents an ideal location for unique underwater attractions. Recognizing the potential of an underwater sculpture park, as a means to divert attention away from sensitive areas was part of the Inter-American Development Bank’s drive for climate change adaptation in the Caribbean. As such Leve Global was hired to create a comprehensive study to determine the financial feasibility, the market potential of the proposed underwater sculpture, and to develop a robust marketing and communications strategy for said attraction.
To assess the viability of a proposed underwater sculpture park in Tobago through a detailed financial feasibility study, market analysis, and the creation of a marketing and communications strategy that would ensure the attraction’s success.
Key Features & Implementation
Key Features & Implementation:
• Extensive Stakeholder Consultation: Engaged with various stakeholders to gather insights, feedback, and understand the potential challenges and opportunities.
• Market Analysis:
o Understanding of Existing Markets: Analyzed the current market dynamics and visitor trends.
o Identification of Priority Markets: Pinpointed markets that would be most interested in the proposed attraction.
o Estimation of Visitor Willingness to Pay: Conducted surveys to gauge how much potential visitors would be willing to pay for the underwater sculpture park experience.
o Visitor Profile: Developed a detailed profile of potential visitors, understanding their preferences, behaviors, and expectations.
o Demand Forecast: Estimated the number of visitors the park could attract based on market analysis and visitor profiles.
• Marketing and Communications Strategy: Crafted a strategy to promote the underwater sculpture park, ensuring it reaches the target audience and resonates with their interests.
• Stakeholder Engagement Strategy: Developed a plan to continuously engage with stakeholders, ensuring their feedback and concerns are addressed throughout the project’s lifecycle.
• Financial Feasibility and Economic Impact Assessment: Conducted a detailed financial analysis to determine the project’s viability and assessed its potential economic impact on the region.
The comprehensive study for the proposed Underwater Sculpture Park in Tobago underscores Leve Global’s commitment to thorough research and strategic planning. By blending in-depth financial analysis with market insights and stakeholder engagement, we aim to ensure that such projects not only become iconic attractions but also drive economic growth for the region. At Leve Global, we are dedicated to turning visionary ideas into tangible realities that benefit both visitors and the local community.