Group 6

Question 1

1. conduct a marketing plan
2. collect market research
3. understand your audience
4. develop your positioning and messaging
5. set company and marketing goals
6. determine your budget
7. develop marketing campaigns
8. develop an implementation timeline
9. evaluate and make improvements

Answer 1

steps in making marketing plan

Question 2

• you can design more effective promotions and
• impactful campaigns, reach your customers with targeted advertising, and
• track your business success with analytics.

Answer 2

importance of marketing plan

Question 3

help to boost revenue, profit and customer satisfaction, while a poorly designed plan can cause production problems and perhaps even sink the company.

Answer 3

importance of production plan

Question 4

1. forecast product demand
2. map out production steps and options
3. choose a plan and schedule production
4. monitor and control
5. adjust accordingly

Answer 4

5 steps making production plan

Question 5

business. It gives business owners a road map to follow as they work to achieve their financial goals. The plan should be created with the help of a professional accountant or financial planner.

Answer 5

importance of financial plan

Question 6

1. defined your financial goals
2. understand your financial situation
3. create financial projections
4. make a budget
5. set up financial controls
6. monitor your progress

Answer 6

steps in creating a business financial plan