The importance-performance-analysis method is most useful during the strategy formulation process when ________.

A) defining the market
B) assessing competitors
C) defining an action plan
D) estimating price sensitivity

The importance-performance analysis method is most useful during the strategy formulation process when defining an action plan. This is because this method helps to identify areas where a company's performance is falling short of customer expectations and where improvements are necessary to increase customer satisfaction. This information can then be used to develop an action plan to improve the company's performance and meet customer needs.