Julianna Is the Owner of Splendid Cupcakes and Looking for a Location

question 228

Multiple Choice

Julianna is the owner of Splendid Cupcakes and looking for a location to expand into a café. She narrowed her search to three locations; however, if she can't find and acquire the right location, she will remain at her current location for at least the next two years. Which technique of managerial planning is Julianna demonstrating?

• A) flexibility
• B) contingency planning
• C) forecasting
• D) scenario Planning
• E) long-range planning

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Definitions:

Blue Ocean Strategy

A strategy that emphasizes the simultaneous pursuit of product or marketing program differentiation and lower cost in newly configured industries and markets envisioned by marketing strategists and entrepreneurs alike.

Differentiation

A marketing strategy where a company seeks to distinguish its product or service from competitors’ offerings through unique features, benefits, or quality.

Cost Focus

A business strategy that aims to gain a competitive advantage by reducing operating costs and offering lower prices than competitors.

Market Specialization

A strategy where a company focuses its marketing efforts on a specific market niche, tailoring its products, services, and marketing activities to meet the needs of that particular market segment.