Asked by Kathryn Murphy on Jun 17, 2024
Verified
In a business plan outline, the marketing strategy contains the
A) description of the size of market, competitor strengths and weaknesses, and five-year sales goals.
B) overview of the business purpose and the business model for making money.
C) description of the management and staffing skills needed and available, compensation, and human resource systems.
D) details of the product characteristics, distribution, promotion, pricing, and market research.
E) description of cash flow projections for one to five years, break-even points, and phased investment capital.
Marketing Strategy
A comprehensive plan formulated by a business to achieve specific marketing objectives and to appeal to its target market.
Competitor Strengths
The advantages or assets that give an organization or individual an edge over others in the same market or field.
Sales Goals
Specific objectives set by a business related to the amount of product or services sold within a particular timeframe.
- Understand the role of operational planning and marketing strategy in a business plan.
Verified Answer
MA
Muhammad AshfaqJun 22, 2024
Final Answer :
D
Explanation :
The marketing strategy section in a business plan outline typically includes details about the product or service, its characteristics, distribution channels, pricing, and marketing research. This section is focused on how the business will promote and sell its offerings to the target market. Choices A, B, C, and E refer to other sections of a typical business plan outline.
Learning Objectives
- Understand the role of operational planning and marketing strategy in a business plan.