Exam 2: Developing Marketing Strategies and a Marketing Plan

The recent whole foods trend has led to the opening of a new organic foods market in town. In response, the long-standing neighborhood grocery decided to stock and sell a line of organic food products. In doing this, the grocery was most likely trying to

For U.S. businesses with strong export capabilities, expansion of U.S. trade agreements with other countries creates

Establishing a sustainable competitive advantage is the key to long-term financial performance.

A ________ growth strategy employs the existing marketing offering to reach new market segments.

In July 2010, Microsoft discontinued the Kin, its social networking phone, after just six weeks of disappointing sales. During what step of the strategic marketing planning process would Microsoft have made the decision to stop offering the product?

SanDisk's MP3 player product line (called the Sansa)has a low relative market share. The MP3 player market is expected to decline over the next few years. In Boston Consulting Group (BCG)portfolio analysis, the Sansa would be considered a dog.

When musicians and their concert promoters offer CDs of a live concert immediately after the concert ends, what type of growth strategy are they pursuing?

Which factor, listed in a situation analysis for a major U.S. auto manufacturer, is the best example of a threat as identified by a SWOT analysis?

In 2006, Ford Motor Company announced it would severely cut back its automobile production. For parts companies supplying Ford its parts, this represented a(n)

________ involves the process of defining the marketing mix variables so that target customers have a clear, distinctive, desirable understanding of what a product does or represents in comparison with competing products.

Starbucks is known for understanding its customers. As such, it has developed multiple varieties of products that match the needs and wants of its different market segments. By offering everything from espresso drinks to teas to pastries, Starbucks is engaging in a(n)________ strategy.

Tiana is assessing several of her firm's products using the Boston Consulting Group (BCG)approach. She is assessing the strength in a particular market and is looking at the sales of each of the products and the sales of the largest firm in the industry. Tiana is determining

Isabelle phoned her insurance agent to renew her auto insurance policy. On that same call, the agent attempted to sell her one of the firm's new life insurance policies. The agent was pursuing a ________ growth strategy.

In 2007, Apple first introduced the iPhone, which combined a cellular telephone, a camera, and Internet access. By doing this, the company pursued a(n)________ growth strategy.

Manufacturers that use just-in-time manufacturing systems coordinate closely with suppliers to ensure that materials and supplies arrive just before they are needed in the manufacturing process. While just-in-time systems can offer major advantages in terms of inventory costs, they must be carefully managed. If a firm found that its just-in-time system was badly managed, leading to frequent manufacturing delays due to missing parts, this would represent a(n)________ in a SWOT analysis.

Julius is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to

Corinne works for an online movie streaming company. Her task is to find ways to push out the company's current movie offerings to countries in Europe. She is pursuing a market development strategy.

Vivien has been a loyal customer of her hair salon for years-just like most of the other patrons. She believes that her stylist, the salon owner, is the best in the business. Not only does the salon provide excellent beauty services, it also features an exceptional, timely staff that always puts the customer first. Furthermore, the salon, which is right in the heart of town, is easily accessible. Vivien's salon has earned

Amazon makes sure its customers can download their Kindle e-books easily from its website when and where they want them. In so doing, it is focusing on creating value through

In value-based marketing, the promotion element of the four Ps communicates the ________ to customers through a variety of media.