Refer to the Scenario Below to Answer the Following Questions

question 72

Multiple Choice

Refer to the scenario below to answer the following questions.
Tan Peng Kia, owner of Seabird Terrace, watched his investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Overlooking the Terengganu coast, Seabird Terrace had attracted thousands of visits in some months, but then faced a tremendous downturn in business during the monsoon season. "But, given the industry in the nearby towns, very little year-round competition, and our close proximity to towns," Tan said, "I couldn't understand why seasonality had to hit Seabird Terrace so hard!"
So Tan spent his time devising a new marketing plan. He put together a promotional package designed to attract business travelers year-round. Tan's plan, then, involved a seasonal large-scale selling and promotion effort -to be implemented from March to July -that would attract the usual crowd. His idea worked! During the monsoon season, Tan greeted numerous business travelers-both satisfied repeat guests as well as new guests who had been snagged by his promotional appeals.
"We still have a long way to go," Tan admitted. "Our restaurant offers delicious local foods, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Tan then added, "Actually, there are so many possibilities!"
-Which of the following groups is specifically part of Seabird Terrace's target market?

• A) seasonal business travelers
• B) families
• C) retirees
• D) honeymooners
• E) athletes

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Definitions:

Invest Today

The act of allocating resources, usually money, in the present with the expectation of receiving future returns or benefits.

Present Value

The value today of a future sum of money or cash flow sequence, discounted at a particular rate of return.

Equal Amount

A term indicating that two or more quantities are the same in value or measure.

Ten Years

A period of ten consecutive years, often used as a significant measurement of time for planning, analysis, and comparison in various contexts.