Question:medium
Explain the following types of plans :
(i) Strategy
(ii) Method
(iii) Budget
Explain the following types of plans :
(i) Strategy
(ii) Method
(iii) Budget
(i) Strategy
(ii) Method
(iii) Budget
Show Hint
Effective planning should be flexible, forward-looking, and continuously updated to align with changing business conditions.
Updated On: Jan 13, 2026
Show Solution
Solution and Explanation
(a) Plan Classifications:
1. Strategic Plan: This is a broad-ranging plan developed by senior leadership to meet organizational goals, addressing future unpredictability and market competition.
2. Procedure: This details the specific steps or way a task must be executed, ensuring uniformity in execution.
3. Financial Plan: A budget is a numerical forecast for a defined future period, projecting anticipated results and offering standards for evaluation.
1. Strategic Plan: This is a broad-ranging plan developed by senior leadership to meet organizational goals, addressing future unpredictability and market competition.
2. Procedure: This details the specific steps or way a task must be executed, ensuring uniformity in execution.
3. Financial Plan: A budget is a numerical forecast for a defined future period, projecting anticipated results and offering standards for evaluation.
Was this answer helpful?
0
Top Questions on Marketing
- Explain Pricing Decisions.
- Explain the functions of Marketing.
- Define Labeling.
- Choose the advantages of market segmentation in marketing:
A. It enables you to frame and adopt separate policies to meet the needs of the different buyer groups
B. More efficient use of marketing resources
C. You can not use the advertising media effectively
D. It helps to pay proper attention to particular areas
- CUET (PG) - 2025
- Home Science
- Marketing
- Want to practice more? Try solving extra ecology questions todayView All Questions
