(b) Besides the admission price, what other factors that influence annual attendance should be con- sidered in the forecast?

CRF is a tyre industry and as a part of Corporate Social Responsibility (CSR), they started a children's zoo long ago. But later, due to decline in CRF's tyre industry, inflation, and changes in governmental policies, CRF opted out of the zoo business. As a result, the Zoological Park was organized as a corporation to contract with the city for its operation. Now, the CRF Zoological Park is an independent organization that handles all activities of the Children's Zoo for the city. For growth and success, there is need to maintain its image as a high-quality place for its visitors. The animals, birds, and reptiles are well cared. Due to plentiful availability of resources for construction and operations which are taking place, the zoo keeps adding new exhibits and activities. All such efforts result in increased attendance. Due to climatic conditions of the region, the zoo remains open from mid-April to mid-October. It re- opens for one week at Halloween and also for the December month. Zoo attendance varies according to the weather. Variations in weather also affect crop yields and prices of fresh animal foods, and, in turn, it affects the costs of animal maintenance. In normal conditions, the zoo achieves its target goal and attracts significant attendance. CRF has not grown appreciably during the past decade. But, then, the zoo made its presence as an innovative com- munity resource, which can also be concluded from the table below. It is also clear that 35% of all visi- tors are adults. In the case of children, it is one-half of the paid attendance. While group attendance almost remains constant at 15 percent. For the publicity purpose, the zoo does not have any advertising budget. It depends on public service announcements, like its own public television series, and local press coverage and social gatherings. It resulted in increase in annual zoo attendance. From the above information, it is clear that the zoo is a nonprofit organization, but there is a need to ensure that its sources of income equal or exceed its operating and other costs. It is also required for its continued existence.

Transcribed Image Text:

Admission Fee (Rs.) Year Attendance Adult Child Group 1995 117,874 4.00 2.50 1.50 1994 125,363 3.00 2.00 1.00 1993 126,853 3.00 2.00 1.50 1992 108,363 2.50 1.50 1.00 1991 133,762 2.50 1.50 1.00 1990 95,504 2.00 1.00 .50 1989 63,034 1.50 .75 .50 1988 63,853 1.50 .75 .50 1987 61,417 1.50 .75 .50 1986 53,353 1.50 .75 .50