Question

Procter and Gamble Ltd. is offering a free bucket on every purchase of five kgs of Tide washing powder. In response to this Hindustan Unilever Ltd. started new scheme of giving free one kg of Rin Washing powder with every purchase of five kg of Rin washing powder. Identify the plan stated in above paragraph and explain it.

Answer 1

It is a type of strategy.

Strategic Plan: Strategic plan is the plan which is formulated by the top level management for a long period of time of five years or more. They decide the major goals and policies to achieve the goals. It takes in a note of all the external factors and risks involved and makes a long-term policy of the organization. It involves the determination of strengths and weaknesses, external risks, mission, and control system to implement plans.