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A marketing plan need not provide for the use of existing resources, allocation of all equipment, financial resources, and human resources, since this is part of a production plan. True or False?

1) True
2) False

User Ben Boyle
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1 Answer

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Final answer:

The claim is false. An effective marketing plan should address resource allocation, integrating marketing strategies with production capabilities and aligning with market demand.

Step-by-step explanation:

The statement that a marketing plan need not provide for the use of existing resources, allocation of all equipment, financial resources, and human resources, since this is part of a production plan, is false. A comprehensive marketing plan should cover various aspects of resource allocation to achieve allocative efficiency and productive efficiency. This includes decisions on the use of existing resources and how goods and services should be produced, implying an integration of marketing strategies with production capabilities.

Additionally, a market analysis is an important component of a marketing plan and should take into consideration the allocation of resources to ensure that what is being produced aligns with the market demand and the company's strategy. Hence, an effective marketing plan is not independent of considerations related to the production plan.

User Tonio Liebrand
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