A Business Plan ________

question 5

Multiple Choice

A business plan ________.

• A) is a process for analyzing marketing strategies
• B) is a type of marketing audit
• C) can be used interchangeably with a marketing plan
• D) includes the decisions that guide the entire organization
• E) makes a SWOT analysis unnecessary

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Definitions:

Unsought Product

Products that consumers do not actively seek out to buy, and may purchase only out of necessity or unforeseen need, such as emergency services or life insurance.

Shopping Products

Goods for which consumers will spend time and effort to compare quality, price, and perhaps style between different sellers before making a purchase.

Impulse Purchases

Unplanned buying decisions made by consumers on the spot, often triggered by emotions or the strategic placement of products.

Minimum of Effort

A principle suggesting that individuals, systems, or organizations naturally tend to select the path or decision that requires the least amount of work or effort.