An Important Goal of the "Marketing Strategy" Section of the Business

question 84

True/False

An important goal of the "marketing strategy" section of the business plan is to prove that there is a real market for the proposed good or service.

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Definitions:

Decision Making

The process of making choices by identifying a decision, gathering information, and assessing alternative resolutions.

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, including high start-up costs, regulatory requirements, and established brand loyalty.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, representing an excess return over and above normal profits.