Asked by Martyna T?cza on Jul 29, 2024

verifed

Verified

In a marketing plan,modifications made to budgets and objectives are typically based on ________.

A) promotions
B) forecasts
C) segments
D) strengths

Marketing Plan

A comprehensive document or blueprint that outlines a company's advertising and marketing efforts for the coming period, detailing specific actions to achieve marketing objectives.

Modifications

Changes or alterations made to a product or service, often aimed at enhancing its performance, appearance, or functionality.

Budgets

Financial plans for a defined period, often one year, outlining projected revenue and expenditure.

  • Understand the process of setting and modifying marketing objectives and budgets.
verifed

Verified Answer

KK
Kaycee KinnardJul 30, 2024
Final Answer :
B
Explanation :
Modifications in a marketing plan are typically based on forecasts, which help businesses make informed decisions about budget allocation and objective setting. Forecasts involve analyzing market trends, economic indicators, and consumer behavior to predict future outcomes, such as sales volumes, revenue, and profits. Based on these forecasts, businesses can adjust their budgets and objectives to align with their expectations and optimize their performance. While promotions, segments, and strengths are important elements of a marketing plan, they may not be the primary drivers of budget and objective modifications.