Answered: What are the company’s plans for future…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Related questions

Question

What are the company’s plans for future growth?

Expert Solution

Step 1

Planning is important all over the existence of any business. Every favourable business usually looks over its business plan to find out if it persists to satisfy its needs. It is prudent to review current performance regularly and recognize the most potent strategies for growth.

Step 2

Following are the company’s plans for future growth:

Marketing goals and objectives, for example how many new customers one wants to gain and the expected size of the customer base at the end of the period.
Functional information such as where the business is, who the suppliers are, the location and equipment needed.
Financial information, including profit and loss forecasts, cash flow forecasts, sales forecasts and audited accounts.
A summary of business goals, which includes targets and dates.
If this is an owner-controlled business, one might want to include an exit plan. This includes planning departure times and circumstances.

Step by step

Solved in 3 steps

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.

Similar questions