As it relates to a formal business plan,the ________ defines how the company will generate revenue and produce a profit.
A)marketing strategy
B)business model
C)action forecast
D)financial projection
E)mission and objectives

Question

Quizplus · Accepted Answer

The business model is the section of a formal business plan that outlines how a company will generate revenue and make a profit. It typically includes information on the company's products or services, target market, revenue streams, cost structure, and pricing strategy. The marketing strategy (A) focuses on how the company will promote and advertise its products or services to the target market. The action forecast (C) outlines the specific steps the company will take to achieve its goals and objectives, while the financial projection (D) predicts the company's future financial performance based on various assumptions. Mission and objectives (E) are important components of a business plan, but they do not necessarily provide information on revenue generation and profitability.

As It Relates to a Formal Business Plan,the ________ Defines