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1. Which of the following is not considered a disadvantage of marketing planning? a. marketing planning is time-consuming b. marketing planning requires a good deal of knowledge and expertise C. marketing planning does not help firms cope well with change d. marketing planning needs the commitment and support of top management 2. Which of the following is not a reason why some marketing plans fail? a. strategic planning is not integrated into a firm's day-to-day activities b. those responsible for planning do not understand the planning process C. no procedures are established to monitor and control the planning process d. financial projections are treated as marketing plans e. all of the above are reasons why marketing plans fail 3. What is the first step in the marketing planning process? a. define the firm's goals and objectives b. conduct a situation analysis c. formulate marketing strategies and action plans d. implement action plans and monitor performance 4. Which step would normally include a S.W.O.T. analysis? a. define the firm's goals and objectives b. conduct a situation analysis c. formulate marketing strategies and action plans d. implement action plans and monitor performance 5. Which of the following items would be considered leverage items in a 5.W.O.T. analysis? a. strengths and opportunities b. strengths and weaknesses c. threats and opportunities d. threats and weaknesses6. Which of the following is not a characteristic of a good objective? a. objectives should be specific and easy to understand b. objectives should identify expected results in specific terms c. objectives should not be constrained to a specific time frame d. all of the above are characteristics of a good objective 7. Increasing or maximizing market share is an example of a ____ objective. a. financial b. competitive c. customer d. sales 8. A strategy focuses on selling the existing product-service mix to the existing target markets. a. product development b. market penetration c. market development d. product diversification 9. Which of the following is not a key control area that can be used to evaluate a firm's performance? a. sales control data b. profit control data C. cost control data d. consumer feedback e. all of the above are key control areas 10. Which of the following sales forecasting techniques would normally work best for predicting changes in the basic sales pattern over the long-term? a. expert opinion b. time series analysis c. moving average d. trend extrapolation