The Five Questions (5Qs)of Business Strategy Do NOT Include

question 16

Multiple Choice

The five questions (5Qs) of business strategy do NOT include:

• A)What products and services does the company plan to produce?
• B)What customer and geographic markets does the company plan to service?
• C)What generic strategy must the company avoid in a differentiated market?
• D)What position in the industry does the company plan to hold in the future?

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Definitions:

Three Fs of Selling

A sales philosophy that emphasizes the importance of Feelings, Features, and Facts in the process of persuading potential customers.

FAB

Features, Advantages, and Benefits; a sales and marketing strategy that outlines a product's features, explains its advantages over competing products, and details the benefits to the customer.

Forecasts

Predictions or estimates of future events or trends, such as sales, weather, or economic conditions, based on analysis of past and present data.

Relationship with Customer

Relationship with customer involves building and maintaining positive and productive interactions between a business and its customers, crucial for retaining and attracting clientele.