1 answer

Case Study Fun-Spot Fun Park began as a small amusement park in 1985

Question:

Case Study
Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a
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
theater.
“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,
even senior citizens who enjoy strolling through the gardens and arbor.
“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 chime 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,” Gail added, “that has brought so many
visitors. We provide a ‘total package’ of entertainment. Plus, we try to change our rides
and various attractions from time to time.”
Ron and Gail Hart admitted that making every visitor happy is a priority. “That
has always been our philosophy,” they said. “And we’ve always been able to deliver on
that because we’ve never allowed ourselves to grow too big too quickly.”

Questions

1. Describe two critical factors impacting the strategic plan at Fun-Spot.
2. Would you consider Fun-Spot’s mission statement to be market oriented?
Explain.
3. At this point, how do Ron and Gail monitor Fun-Spot’s business portfolio?
4. Into which quadrant of the BCG matrix does Fun-Spot fall? Why?
5. How might Ron and Gail implement a market penetration strategy at Fun-Spot?
6. In what way do Ron and Gail implement a product development strategy at Fun-
Spot?

Answers

1. Two critical factors impacting the strategic plan at Fun Spotare : Purely untapped market and Calm & serene location.

2. The mission statment “there’s something here foreveryone” is very much market oriented since it caters to allsegments of the market - corporates, individuals, kids andfamilies.

3. Ron & Gail monitor the business portfolio bychanging/upgrading the rides, including added attractions and byhaving catering to additional segments of consumers.

4. Fun Spot falls in the 1st quadrant i.e.

It is a Star. Thereason for this business to be a star is that the business isexperiencing a very high growth rate and has no competitors. Themarket is still very under penetrated, so, there is a hugepotential for growth. The market share is totally dominated by Funspot due to absence of competition.

5. Market penetration strategy:
- Providing Good deals (discounts etc.) to corporate houses
- Attracting more people to organise Weddings at Fun Spot
- Providing lodging to visitors - soemthing like a Resort with aSpa
- Added attractions for kids like candies stand etc.

6.

Ron & Gail focus on continuosly renopvating the rides andadding newer attractions that focus on all segments of themarket

.

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