MANAGEMENT

Detailed explanation-1: -Marketing plans make it more difficult for a company to track its progress. False; marketing plans make it easier for a company to track its progress because they provide a gauge for success.

Detailed explanation-2: -The marketing portion of a business plan addresses four main topics: product, price, promotion, and place. A business plan is a blueprint for taking an idea for a product or service and turning it into a commercially viable reality.

Detailed explanation-3: -A global standardization strategy refers to the ability to use standardized marketing messaging and campaigns across markets, countries, and cultures. The world’s biggest brands, such as Adidas and Coca-Cola, use a global standardization strategy to create a consistent brand experience across regions and languages.

Detailed explanation-4: -Every business needs a marketing plan. It doesn’t matter if you are a one-man service provider or a major corporation with 1, 000 employees across multiple states. Marketing is what drives sales; without sales, you don’t make the money required to stay in business long-term.