long-range plan
Definition:
Any plan which covers a period beyond that normally used for budgeting and control purposes, usually more than one year. While some commentators recommend a minimum of 3-5 years, and some even 5-10 years, experience shows that the period must be realistic in terms of the rate of change in technology and the MARKET place. Thus in very volatile markets or for companies which are experiencing difficulties, short-term horizons may be much more appropriate.
Cross-References:
[market]
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Michael J. Baker],.