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Explain How Business Planning Helps Managers in a Firm

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Explain how business planning helps managers in a firm.


Definitions:

Press Releases

Official statements issued to the media to announce something of public interest.

Test Market

A strategy where a new product or service is launched in a limited geographical area to gauge customer response and effectiveness before a wider release.

Positioning

is the strategy of establishing a brand or product in a particular segment of the market or in the minds of consumers by differentiating it from competitors.

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