Business (AS & A Level) · Oct / Nov 2023 · Paper 22 · Question 1

Gold Theme Park (GT) Gold Park was a mine where gold was extracted until 2012. Although there was still some gold in the mine, the direct costs of extracting it became too high. The area around Gold Park has become a tourist destination. There has recently been development of hotels and other accommodation. A new marina complex has also been built which attracts boat owners to use the local lakes and rivers. Kayo is an entrepreneur who purchased the mine in 2015. She converted the mine into GT, a theme park where customers can learn about gold mining and have fun. GT now includes a museum, guided underground tours of the mine and a roller coaster ride around the park. There is also a restaurant and gift shop. Kayo employs some of the people who previously worked in the gold mine to work as tour guides in the theme park. She also employs some younger workers, who require training, as customer service representatives. Kayo believes that developing intrapreneurship is important to the ongoing success of GT. Table 1.1 shows some data about GT over the past three years. Table 1.1 Data about GT 2020 2021 2022 Revenue ($m) 3.4 3.2 2.8 Number of employees 54 55 47 Profit ($m) 0.9 0.3 0.2 Number of visitors (m) 0.8 0.8 0.65 GT’s Marketing Director has conducted some primary market research to find out why visitor numbers have fallen. The findings indicate that many potential customers think the park is not fun and the price of entry is too high. Kayo has now asked the Marketing Director to conduct some secondary market research to help improve GT. 5 10 15 20

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