Question

Lindsey plans to open a new bicycle shop in Gainesville that will target college students. She anticipates that demand for bicycles will increase this summer as a result of higher gas prices and increasing parking problems on campus. However, she has also taken into account that some things may not go the way she has planned and has developed alternative courses of action. What component of the marketing plan do these alternative strategies represent

Answer 1

Contingency plan

Step-by-step explanation:

Contingency plan is a common a management tool. It facilities adequate arrangements which are made in the advent of a crisis. It is a plan laid down for a specific situation when things could go wrong.

Plans which are developed for possible operations where the planning factors ( e.g. scope, risks and others have been figured out or assumed.

Example: It is the Preparation to deal with calamities such as floods and non calamitous situations such as labor strike usually before they occur.