V. Marketing - EPS165 - New Venture Feasibility Analysis - LibGuides at Paradise Valley Community College

A. Tactical Plans - Tactical planning is an important element in business, and it varies somewhat from common strategic and operational planning methods.

DEFINITION - Tactical Planning Tactical planning is an important element in business, and it varies somewhat from common strategic and operational planning methods. The tactical planning process happens in real-time, pursuing short-term outcomes. Having a tactical methodology in place enables the business to make nimble maneuvers to excel within the respective market.
ARTICLE - New Managers: How To Create Your Department's Tactical Plan

ARTICLE - A Company's Top Marketing Challenges According to the 2016 State of Inbound Report, companies face many marketing challenges on a daily basis. HubSpot has cited that a company's largest marketing challenges are generating traffic and leads and proving the ROI of marketing services. Although there are other top marketing challenges that companies face such as securing an adequate budget, managing the website, and identifying the right technologies, it is important to focus on the top two challenges for businesses to thrive.
EXAMPLE - Marketing Challenges for the Next Decade The changes affecting (or afflicting) the travel industry are no secret. The industry faces broad-based globalization of its business, deregulation of industries and markets, privatization of state-owned assets, and revolutionary technological advances (as described in the preceding article). Those changes are affecting the industry in ways that are only now becoming apparent. If business operators are to succeed in such an uncertain environment, they need to anticipate and, when possible, lead their firms into new opportunities asa result of this analysis.
Here's a challenge for you - Go to First Research database & pick an industry(any) and find the challenges for this industry and list them. Describe the "Critical Issues" & "Business Challenges" affecting the industry.

First Research (Mergent, Inc.)
First Research industry reports offer extensive industry research written from a objective business perspective to help you become a trusted industry advisor. Each report consists of key statistics and analysis on market and competitive landscape characteristics, operating conditions, business challenges, industry trends, current and historical industry growth, and more. Many reports also include a global industry analysis.

How to Forecast Sales Your sales forecast is also the backbone of your business plan. People measure a business and its growth by sales, and your sales forecast sets the standard for expenses, profits, and growth. The sales forecast is almost always going to be the first set of numbers you’ll track for plan versus actual use, even if you do no other numbers. If nothing else, just forecast your sales, track plan versus actual results, and make corrections—that process alone, just the sales forecast and tracking is in itself already business planning. Even if you do nothing else.
Sales Forecasting - A DEFINITION