One of the First Steps in Building a Marketing Plan

question 90

Multiple Choice

One of the first steps in building a marketing plan is identifying a small company's ________,the group of customers at whom the company aims its products and services.

• A)target market
• B)competitors
• C)customers
• D)Both A and C

---

Definitions:

Skills

Abilities or competencies acquired through training or experience that enhance an individual’s capacity to perform tasks.

Extrapolation

The process of estimating, beyond the original observation range, the value of a variable based on its known values.

Indexation

The adjustment of wages, benefits, or other financial variables to match the rate of inflation, ensuring purchasing power is maintained over time.

Short-Run Forecasting

The process of predicting the immediate or near-future performance, trends, or demands using current and historical data.