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Your cousin wants to start his own business, but he has decided not to write a marketing plan because he thinks that preparing such a document would take too long. He says he doesn't need a formal proposal because he has already received funding from your uncle. Explain why it is important for him to write a plan anyway. What should he include in his marketing plan?

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Solution Summary

Contents of a typical marketing plan are briefly identified.

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As you briefly explain why it is important to write a plan anyway, I firmly believe the plan encourages better short and long term planning and facilitates much better goal setting for a business. It further allows a company to maintain a better focus of the "big picture" in mid. It also ensures that better accountability is also met, not just merely goals or objectives. I deem it as an effective method to hold one's business accountable for their efforts and accomplishments.

This plan allows one to ...

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Stacy Shaneyfelt, MA
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  • MA, Slippery Rock University
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