Final answer:
The CEO of Becky's Bicycles has set a goal to capture 50 percent of the bicycle rental market in Sonoma County by 2020. Achieving this market share would involve analyzing the market, understanding competitors, and strategizing business practices such as customer service and marketing for business growth.
Step-by-step explanation:
The CEO of Becky's Bicycles has stated a goal of acquiring 50 percent of the bicycle rental business in Sonoma County by 2020. This type of statement is typically known as setting a market share objective, which is a strategic target within a business plan. To achieve this, the CEO would need to analyze the current market, assess competitors, and develop strategies to increase Becky's Bicycles' market share. Factors such as customer service, pricing, marketing, and the quality of bicycles would all play a role in reaching this goal. To illustrate a related concept, let's consider Issa, a mountain bike enthusiast who is drafting arguments about opening more wilderness trails for bikers. Initially, he wrote in favor of his position but later decided to research and understand the counterarguments, leading to a more balanced and informed final draft. Similarly, understanding different viewpoints and factors impacting market share is crucial for business strategy.
For instance, drawing comparisons to the equestrian events in Santa Ynez, CA shown in Figure 2-35 could be insightful. Much like how such events require extensive resources and meticulous planning to succeed, capturing a significant portion of the rental market would necessitate considerable investment and strategic planning from the CEO and her team at Becky's Bicycles.