INTRODUCTION TO ENTREPRENEURSHIP
ENTREPRENEURIAL PROCESS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which component of the business plan describes the promotional strategies?
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A business owned by only one person.
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Money that remains after a business has paid for the expenses of running the business.Income > Expenses
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None of the above
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Detailed explanation-1: -The marketing plan details the strategy that a company will use to market its products to customers. The plan identifies the target market, the value proposition of the brand or the product, the campaigns to be initiated, and the metrics to be used to assess the effectiveness of marketing initiatives.
Detailed explanation-2: -Promotional strategies include different methods focused on the four elements of the promotion mix, which include advertising, sales promotion, public relations, and personal selling.
Detailed explanation-3: -Marketing strategy: This section describes how the company will attract and keep its customer base and how it intends to reach the consumer. A clear distribution channel must be outlined. The section also spells out advertising and marketing campaign plans and the types of media those campaigns will use.