Paul and Pierre Are Writing a Business Plan to Submit

question 15

Essay

Paul and Pierre are writing a business plan to submit to a bank to ask for a loan to start a French restaurant.Paul has worked in finance for five years and Pierre is a chef.Unfortunately,neither has much experience in marketing and they think that marketing equals advertising.They have asked you to explain the marketing concept as it is viewed today.What do you say?

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Definitions:

Performance Categories

Classifications used to assess or evaluate the effectiveness or productivity of an individual, team, or system.

Very Good, Good, Adequate, Very Poor

A range of qualitative assessments or ratings typically used to evaluate performance, quality, or satisfaction across various contexts.

Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution, often through the mean, median, or mode.

Average Category

A classification used to benchmark or standardize the typical or midrange value of a set of data or characteristics.