Question

A manager at a textile company aims to introduce a new eco-friendly product line. Which of the following steps would he follow to ensure the success of this plan?

• A. C, A, B, E, D
• B. A, E, C, D, B
• C. C, E, A, B, D
• D. E, C, B, A, D

Hint:

Follow the TFOAM order: Targets, Forecasts, Options, Action, Monitoring — a handy way to remember effective planning steps.

Answer 1

The Correct Option is C

The effective planning process to successfully launch a new product includes: 1. Define targets (C): Set clear, measurable objectives such as market share, sales volume, or environmental impact goals. 2. Base on forecasts (E): Use market research and demand forecasting to anticipate customer needs and external conditions. 3. Analyze options (A): Evaluate different strategies or production methods to find the most feasible and cost-effective approach. 4. Implement the plan (B): Allocate resources, assign responsibilities, and start production and marketing activities. 5. Monitor progress (D): Continuously track results and adjust the plan as necessary to stay on course toward goals. This stepwise approach improves chances of success by aligning goals with market realities and continuous feedback.