Maya opened a bakery in a seaside resort town. She was positive she had the perfect location as plenty of hotels and inns were within walking distance of her storefront. She planned to use her grandmother's recipes and only the finest ingredients for her upscale resort customers. During her first week of business, she was disappointed with lackluster sales. When she drove past the regular breakfast-style restaurants and even the nearby Starbucks, she noticed they were rather bustling. Maya most likely:

Maya has most likely underestimated the competition.

Explanation:

When Maya opened a bakery in a seaside resort town, although she was positive about the perfect location. She planned to use her grandmother's recipes and only the finest ingredients for her upscale resort customers. She was surprised during her first week of business with less sales. Then she identified that there were few other restaurants in her locally as well, which were running already quite successfully. From the very beginning, Maya was very much confident about other aspects of her business but she totally ignored the competition which she was going to face in that locality. She was happy that she has got the very ideal location for her bakery, but she totally underestimated the competition which was awaiting her. That's the reason she got this surprise which made her shocked. She should have analysed the market quite comprehensively in order to plan for the competition.

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