After Management Develops the Product Concept and Marketing Strategy, It

question 25

Essay

After management develops the product concept and marketing strategy, it can evaluate the proposal's business attractiveness. Management needs to prepare sales, costs, and profit potentials. The first step is to estimate total sales. Describe what is included in estimating total sales.

---

Definitions:

Social Learning Theory

A theory in psychology that suggests people learn from one another, via observation, imitation, and modeling.

Rational Behavior

Making decisions based on logical reasoning, often aimed at achieving the most beneficial outcome while minimizing losses.

Socialization

The social process through which individuals acquire the values, behaviors, and norms of a society and learn to function as members of that society.

Communication

The process of conveying information or expressing thoughts and feelings through verbal or non-verbal means.