Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fun - Spot Fun Park began small amusement park in 1985. With nothing more than merry - go - round , a slide

" Fun - Spot " Fun Park began small amusement park in 1985. With nothing more than merry - go - round , a slide , pony rides , and an ice cream stand , Fun - Spot grew into a popular family attraction with 20 rides , a restaurant , and an outdoor performing arts theatre . " My wife , Gail , and I didn't know what we were getting into , " commented Ron Hart , the owner . " We just knew that weekenders coming to the lakes in our rural area represented an untapped market . " Today , thousands of visitors flock to Fun - Spot : families , children of all ages , and even senior citizens who enjoy strolling through the gardens . " There's something here for everyone , " Gail Hart said with a smile . " Dozens of companies hold annual company picnics here . We have welcomed class field trips . And we even had one wedding here at the park ! " " Here's the funny thing . " Ron chimed in . " We really don't know why we've been so successful . There is nothing else like Fun - Spot fun Park in the area . We were just lucky . " " I think it's the ambience of the park that has brought so many visitors , " Gail added . " provide a ' total package ' of entertainment . Plus , we try to change our rides and various attractions from time to time for Ron and Gail Hart admitted that making every visitor happy is a priority . " That has always been our philosophy , " they said . " Like the park's motto at the entrance reads , " We're here to make you happy ! ' And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly . " Q - 1 Classify Fun spot according to BCG Matrix and jushfy your classification . ( 1 ) Q - 2 Ron and Gail plan to lower Fun - Spot's prices in an effort to encourage customers to stay longer , visit more often , and spend more money during each visit . What type of growth strategy are Ron and Gail planning ? ( 2 ) Q - 3 Ron and Gall , owners of Fun - Spot , strive to provide new offerings and entertainment options for their visitors . This type of strategy can be best described as which growth strategy ? ( 2 )

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

324300980, 978-0324300987

More Books

Students also viewed these Accounting questions