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

question 49

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."
-Which of the following would be classified as an opportunity in a SWOT analysis of Fun-Spot?

• A) A rival amusement park announces plans to open three new rides next season.
• B) A new luxury hotel is being constructed in the area, with the aim of attracting more high-spending families on vacation.
• C) Ron and Gail have paid off the mortgage on Fun-Spot, significantly reducing their monthly expenses.
• D) Fun-Spot employees tend to be enthusiastic and young, projecting an image of fun and vitality.
• E) Fun-Spot plans to further diversify its offerings by beginning a two-week summer camp for elementary school students.

Describe the role of the Federal Trade Commission (FTC) in regulating advertising and promoting fair business practices.

Explain how international treaties and protocols, like the Madrid Protocol, facilitate trademark protection globally.

Grasp the legal mechanisms available for companies to enforce their trademark rights and prevent dilution.

Understand the impact of environmental forces on an organization's marketing environment.

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Definitions:

Punitive Damages

Monetary compensation awarded in a lawsuit that goes beyond what is necessary to compensate the plaintiff and is intended to punish the defendant for egregious behavior and deter similar conduct in the future.

Constitution

The foundational legal document that establishes the framework of a government, outlining the structure, powers, and limitations of government institutions.

Grossly Excessive

Describes an amount or action that is much more than what is reasonable or appropriate.

Philip Morris USA v. Williams

A landmark U.S. Supreme Court case that significantly impacted punitive damages in cases of personal harm, focusing on a punitive damages award against a tobacco company.