A sneaker retailer is concerned about rumors of a major competitor opening as many as five stores in its overall trading area.In response to these rumors,the retailer has developed competitive response plans.These plans are an example of ________.
A) trigger points
B) gap analysis
C) scenario analysis
D) benchmarking

Question

Quizplus · Accepted Answer

The retailer's response plans are an example of scenario analysis, which involves identifying potential future events or situations and developing plans to respond to them. In this case, the scenario is the competitor opening five stores in the retailer's trading area, and the response plans are developed to address that potential threat. Trigger points involve identifying specific actions that will prompt a response, gap analysis involves identifying areas where the retailer needs to improve to compete with competitors, and benchmarking involves comparing the retailer's performance against that of its competitors.

A Sneaker Retailer Is Concerned About Rumors of a Major