Examlex
List the three steps of the planning phase of the strategic marketing process. Briefly describe what goes on during each of the three steps.
Capacity Shortage
A situation where the demand for a company's goods or services exceeds its ability to produce or supply them, often leading to delivery delays or unsatisfied demand.
Excessive Cancellations
A higher than normal rate of voided orders or terminated services, often indicating problems in business operations or customer satisfaction.
Backup Source
An alternative option or supplier that can be used in case the primary source is unavailable or inadequate.
Overbooking
A practice where a service provider (like airlines or hotels) accepts more reservations than there is capacity, anticipating that there will be some cancellations.
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