As small companies achieve success, they inevitably develop formal marketing strategies and adhere to them closely. Typically, they have more to spend on advertising and promotion of their products or services. This approach to strategy is BEST described as:

Question

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The description suggests that the company has developed a formal marketing strategy and adheres to it closely, indicating a formulated approach to strategy. This approach is typical of larger, more established companies that have the resources to develop and implement a structured plan for marketing and promotion.

As Small Companies Achieve Success, They Inevitably Develop Formal Marketing