Final answer:
The company has completed Phase 2 of the international planning process, where it has developed a marketing plan and outlined budgets, sales, and profit expectations for entering Eastern Europe. The correct option is (b) Phase 2.
Step-by-step explanation:
The question pertains to the phases of the international planning process, which is a critical element of a company's strategy for expanding its operations into new international markets, such as Eastern Europe. The phase that has been completed, as described in the question, involves the creation of a marketing plan complete with budgets and sales and profit expectations.
In the typical international planning process, this would correspond to Phase 2: Planning and Development. This phase includes setting objectives, budgeting, devising strategies, and forecasting expected results. It is the stage where the company outlines how it intends to enter the market and predicts the financial outcomes of its actions.
It is important to note that this phase follows the initial phase of preliminary analysis and screening, where potential markets are identified and evaluated, and precedes the subsequent phases of implementation, operation, and evaluation. Given that the company has not yet moved on to the actual entry into the market or reviewed the results of the implementation, Phase 2 is the most likely answer to the question. Therefore, the correct option is (b) Phase 2.