ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
GLOBALIZATION AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They require a lot of time and effort to write.
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They are important only for new businesses.
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They are internal documents written for management.
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They work best for big companies.
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Detailed explanation-1: -A marketing plan is the advertising strategy that a business will implement to sell its product or service. The marketing plan will help determine who the target market is, how best to reach them, at what price point the product or service should be sold, and how the company will measure its efforts.
Detailed explanation-2: -A marketing plan is often included as part of a company’s overall business plan. Marketing plans are important only for big companies.
Detailed explanation-3: -involves creating new products for present markets. Which of the following statements is true of a marketing plan? It defines the business mission and objectives.
Detailed explanation-4: -It includes SMART marketing goals, deadlines, action steps, long-term objectives, target audiences, core marketing messages, and metrics. The plan is detailed, yet scannable. By the end of it, one can walk away with a strong understanding of the organization’s strategic direction for their upcoming marketing efforts.