having a steady income and job they would invest in recreational activities

Having a steady income and job they would invest in

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having a steady income and job they would invest in recreational activities offered by Chi-Ha waterpark. The present size of the market is still a work in progress since we want to make it economically friendly through our services being efficient and effective and also making our customers aware of the waterpark. In making it economically friendly, efficient and effective, we will have to do so in determining the age range, gender, income levels (which is stated above), seasonality, culture, and consumer loyalty of the services dedicated. The growth of the target market will have to be factored in with the product life cycle. In order for the target market to expand in growth rate, there must be an awareness of the service through, advertisement and promotional activities and other factors that influence consumer’s behavior and spending. 14
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Our services provided by Chi Ha will be reflected by the buying behavior, and will be dependent on the geographic region which will be located in Belmopan, income levels of the household and buying frequency. The market growth potential will be going to be steady after our customers and potential customers are aware of the services being offered. Since we will be geared towards family, friends and potential guests, they will be purchasing a variety of services that are offered by the waterpark inclusive of administrative fees and also specialized activities. Purchases within the park will be available through occasional visits and seasonality of visitations. The expectations that the customers will have about our services will be the reliability, flexibility, economically friendly environment and affordability of the services catered to each customer that we are willing to go the extra mile for. (Parker, 2010) Within the USA Water parks have become such a huge deal over a period of five years (2012 to 2017) especially as the booming economy which has seen a fall in unemployment rates and a rise in per capita income, has helped to boost revenue in the industry. (Smith, 2011) The industry is however viewed as highly saturated which is why there are few new water park businesses, and existing operators try to bring in more revenue from the existing market by offering new perks and providing extra services in order to retain a high number of their customers. The water park business is seasonal in nature and due to this, most of the industry operators usually choose to run the business in regions where the weather is favorable. In order for Chi Ha to tap into a niche market, we must identify and formulate new ideas and creativity to sustain and continue the growth in business. Even though there are limited niche ideas for a waterpark business to go into listed, below are some creative ideas for our small water park: Operating water attractions Sale of Merchandise Sale of specialized request for food & beverages Request of specialized activities such as birthday parties, weddings etc.
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  • Fall '19
  • West Edmonton Mall, Water parks, World Waterpark, Chi Ha Water Park, Chi Ha Waterpark

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