Question: Ingrid has recently opened a graphic arts studio in Phoenix, Arizona. Ingrid understands that marketing the business is a key component of its ultimate success,

Ingrid has recently opened a graphic arts studio in Phoenix, Arizona. Ingrid understands that marketing the business is a key component of its ultimate success, but as a fledgling entrepreneur, she is not familiar with the specific elements of a sound marketing plan. Ingrid calls upon her friend Stephan, a marketing major in college, for advice. Stephan should inform Ingrid that the essential components of a successful marketing plan include all but which of the following?

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