Refer to the Scenario Below to Answer the Following Questions

question 17

Multiple Choice

Refer to the scenario below to answer the following questions.
Tambun 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, Tambun grew into a popular family attraction with 20 rides, a restaurant, and an outdoor performing arts theater.
"My wife, Kamisah, and I didn't know what we were getting into," commented Ahmad, the owner. "We just knew that weekenders coming to the Ipoh area represented an untapped market."
Today, thousands of visitors flock to Tambun Fun Park-families, children of all ages, even senior citizens who enjoy strolling through the gardens and arbor.
"There's something here for everyone," Kamisah 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," Ahmad chimed in. "We really don't know why we've been so successful! There is nothing else like Tambun Fun Park in the area. We were just lucky."
"I think it's the ambience of the park," Kamisah 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."
Kamisah and Ahmad 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."
-Kamisah and Ahmad change the rides and various attractions from time to time to provide new offerings for their visitors.What type of strategy is this?

• A) market penetration
• B) market development
• C) product development
• D) customer development
• E) diversification

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Definitions:

Government

The organization or system through which a community or society is governed, often responsible for creating and enforcing laws.

Market Failure

A scenario where goods and services distributed by an unrestricted market fail to achieve efficiency, frequently making a case for governmental involvement.

Poor Information

A situation where individuals or entities make decisions based on incomplete, inaccurate, or misleading information.

Repeat-purchase Item

A product or service that is bought by consumers on a regular basis due to its continuing need or satisfaction.