Certified Supply Chain Professional (CSCP) Practice Exam

Which of the following is NOT a key component of a market plan?

1. Strategies for competitive advantage

2. SWOT results

3. Consumer product specifications

4. Market position analysis

The correct answer is: Consumer product specifications

A market plan is a strategic document that outlines how a business intends to market its products or services to achieve specific goals. It typically includes components that help define the market landscape, identify competitive advantages, assess strengths and weaknesses, and articulate target positioning. Consumer product specifications, while important for product development and design, are not typically regarded as a core component of a market plan. Instead, product specifications are more focused on the technical details and features that the product needs to meet, rather than the marketing strategies that guide the overall market approach. On the other hand, strategies for competitive advantage, SWOT results, and market position analysis are integral to a market plan. These components help organizations understand their competitive landscape, evaluate internal capabilities, and determine how to position themselves effectively in the market to attract and retain customers. By focusing on competitive strategies and market analysis, businesses can craft targeted marketing efforts that align with their strengths and market opportunities.