The Fourth Step of a Small Business' Strategic Planning Process

question 44

Multiple Choice

The fourth step of a small business' strategic planning process involves:

• A) considering the customers and the benefits to offer them.
• B) refining the firm's capabilities in order to maintain a competitive advantage.
• C) determining the best strategic direction and strategy for the firm.
• D) studying the dynamics and trends of the industry.

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Definitions:

Qualified Prospect

A potential customer who has been evaluated and determined to meet certain criteria, making them more likely to purchase the product or service.

Decision Maker

An individual or group responsible for making choices on behalf of an organization, especially regarding strategic directions or key investments.

Personal Selling Process

A series of steps undertaken by sales personnel to identify, engage, and close sales with potential customers, often involving personal interaction and relationship building.

Personal Selling Process

A series of steps taken by salespeople to develop customer relationships and close sales through personal interaction.