"Review of past performance and achievements of the enterprise are a part of this step in preparing the marketing plan. "Identify the correct step.
Answer & explanation
Correct answer: option 1
Business situation analysis: 'Where we have been?' – is the question responded to as the first step in designing the marketing plan. Mostly a review of past performance and achievements of the enterprise are stated here in but for a new venture, focus shifts rather towards:
a) Personal profile of the entrepreneur
b) Emphasis on products development
c) What 'need' it satisfies
d) Any other enterprise/experience of the entrepreneur
e) Any marketing segmentation, if planned.