1) Strategic Planning is the process which involves the review of:

1. Market Conditions
2. Customer Needs
3. Competitive Strengths and Weaknesses
4. Sociopolitical, Legal and Economic Conditions
5. Technological Developments
6. Resource Availability
7. ALL OF THE ABOVE
8. NONE OF THE ABOVE

2) The aim of market segmentation is to identify groups of buyers based on similarities and then develop a marketing strategy based on those similarities. True False

3) What issues does a company need to consider when a competitor initiates a price change?

4) The major benefits to a S.W.O.T Analysis are:

1. Simple to use.
2. Reduces the costs of strategic planning.
3. Flexible.
4. Integrates and synthesizes diverse information.
5. Fosters collaboration among managers of different functional areas.
6. ALL OF THE ABOVE.
7. NONE OF THE ABOVE.