Question

Sales plan formulation involves three tasks: _______.

1) Market analysis, goal setting, and strategy development
2) Product development, pricing, and promotion
3) Sales forecasting, budgeting, and performance evaluation
4) Customer segmentation, targeting, and positioning

Answer 1

Sales plan formulation typically includes tasks such as market analysis, goal setting, sales forecasting, budgeting, and performance evaluation, which are crucial for setting directions and measuring success.

Step-by-step explanation:

The question revolves around the tasks involved in the formulation of a sales plan. Formulating a sales plan is a complex process that can include a variety of tasks, such as market analysis, goal setting, strategy development, product development, pricing, promotion, sales forecasting, budgeting, and performance evaluation. Among the options presented, sales forecasting, budgeting, and performance evaluation are central to the ongoing sales plan formulation process. These tasks allow a firm to set a clear direction for its sales efforts, allocate resources efficiently, and measure performance against its goals, which is crucial for making informed decisions and adapting strategies.