ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An appropriate marketing goal would be to
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increase market share by 5 percent in one year
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improve the company’s products
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determine why the company is losing money
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hire five new salespeople
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Explanation:
Detailed explanation-1: -Increase total market share. Let’s set a reasonable goal: Increasing total market share a 5% by the end of the year: Specific-Improve total market share. Measurable-By 5% Attainable-Must identify areas of potential loss, such as customer churn, and areas of gain such as targeted advertising.
Detailed explanation-2: -Innovation. Innovation is an excellent method of increasing market share. Lowering prices. A company can also expand its market share by lowering its prices. Strengthening customer relationships. Advertising. Increased quality. Acquisition.
Detailed explanation-3: -Generating leads. Building brand awareness. Increasing website traffic. Converting leads into customers. Developing customer loyalty.
There is 1 question to complete.