| A | B |
|---|
| Metrics that gauge the market's buying habits and attitudes relate to the | profitability |
| The marketing objectives that a business develops for its marketing plan should lead to a(n) | increase in sales. |
| When a business allocates a certain amount of money in relation to the amount of goods and services that it sold the previous year, it is setting its marketing budget by | using the percentage-of-sales method. |
| When do businesses usually set the marketing budget? | After determining objectives |
| A primary reason for establishing a marketing budget is that it helps a business to | control spending. |
| What does a business need to consider when developing a marketing budget? | costs of performing marketing activities |
| The marketing metrics that businesses select should relate directly to the __________ of the marketing plan | objectives |
| Businesses often select marketing metrics that will help them compare current market share with | market potential. |
| One reason why businesses select marketing metrics is to use them as a(n | measurement tool. |
| By setting marketing objectives, businesses are specifying | what they want to achieve. |
| Why is it important for businesses to include specific time frames when setting marketing goals and objectives? | Keeps the business focused on the goal |
| Which of the following is an example of an effective marketing objective that a business might set | Increase profit by 6% next year |
| Forecasting sales for market plans is important because the forecast is used as a | standard of measurement. |
| What do businesses often take into consideration when forecasting sales for marketing plans | Competitors' market share |
| The MSV Company developed a sales forecast by considering the opinions of industry experts. This is an example of which of the following sales-forecasting methods | Qualitative |
| In which of the following situations should a business lower its sales forecast for the coming year: | Inflation rate is expected to rise 2%. |
| Which of the following individuals would a business be most likely to ask for a prediction of next year's sales | Experienced salesperson |
| Which of the following is an example of an external change that could affect a business's sales forecast | The population of a town increases when a new hospital opens in the community. |
