What is a marketing plan? Why is a marketing plan necessary for an entrepreneur?

Marketing
20th Edition
ISBN:9780357033791
Author:Pride, William M
Publisher:Pride, William M
Chapter5: Marketing Research And Information Systems
Section: Chapter Questions
Problem 1DYMP
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A marketing plan is a process of determining a straightforward, comprehensive approach to creating customers. The following elements are critical for developing this plan: current marketing research, recent sales analysis, a marketing information system, sales forecasting, and evaluation. What is a marketing plan? Why is a marketing plan necessary for an entrepreneur? How critical are the elements mentioned above for an entrepreneur? Explain your answer.

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