whether or not the traditional step-by-step funnel process is still valid or if it needs to be rethought, and if so in what way
whether or not the traditional step-by-step funnel process is still valid or if it needs to be rethought, and if so in what way
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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whether or not the traditional step-by-step funnel process is still valid or if it needs to be
rethought, and if so in what way
Expert Solution
Step 1: Define step-by-step funnel process
The step-by-step funnel process, often known as a sales or marketing funnel, is a business conceptual framework that maps the stages a potential consumer goes through when making a purchase decision. The name "funnel" comes from the fact that, like a genuine funnel, the number of potential consumers (or leads) reduces as they proceed through each stage, resulting in a smaller number of actual purchases.
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