What Is the Consequence of Not Developing a Marketing Plan

question 25

Essay

What is the consequence of not developing a marketing plan? Provide an example.

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Definitions:

Activity-based Management

An approach to business management focusing on identifying and managing activities that drive costs and improve business processes and profitability.

Process Costing

An accounting methodology used to allocate costs to units of production in continuous or mass production processes.

Customer Value

Customer value is the perception of benefits received by a customer from a product or service compared to the costs and alternatives, often influencing purchasing decisions.

Throughput Efficiently

The rate at which a system achieves its goal, especially in terms of processing work or information within a given period of time.