Refer to the Scenario Below to Answer the Following Question(s)

question 53

Multiple Choice

Refer to the scenario below to answer the following question(s) .
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, and even senior citizens who enjoy strolling through the gardens and the arbors. "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. "We provide a 'total package' of entertainment. Plus, we try to change our rides and various attractions from time to time for variety."
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."
-Fun-Spot's mission is ________.

• A) product oriented
• B) technology oriented
• C) market oriented
• D) design oriented
• E) narrowly focused on profits

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Definitions:

Return On Equity

A financial ratio that measures the profitability of a company in generating profit from its shareholders' equity.

Dividends

Disbursements from a company to its shareholders, typically originating from the firm's earnings.

Market Price

The current price at which an asset or service can be bought or sold in the open market.

Gross Margin

The difference between revenue and cost of goods sold, divided by revenue, expressed as a percentage, indicating the financial health of a company's core activities.