Question

Rashan has been working as a pharmacist at a large drug store chain. He would like to open his own small pharmacy but is not sure if he could be successful given the predominance of large competitors. What part of his business plan would best address his concern?

Answer 1

The answer is "marketing plan".

A marketing plan is a business record laying out your advertising procedure and strategies. It's regularly centered around a particular time frame (i.e. throughout the following a year) and spreads an assortment of advertising related subtle elements, for example, costs, objectives, and activity steps.

In any case, similar to business plan, a marketing plan is definitely not a static report. It needs to change and advance as your business develops, and as new and changing advertising patterns create.