Exam 2: Strategic Planning for Competitive Advantage

List the four basic strategies used once an organization has identified its strategic business units in terms of the portfolio model.Describe when each is used.

Until spun off in 2007,Kraft was part of Altria Group,Inc.Kraft had its own management team,mission statement,and target markets different from Altria Group,Inc.Kraft was a _____ of Altria Group,Inc.

A written document that acts as a guidebook of marketing activities for the marketing manager is known as the _____.

The marketing mix refers to a unique blend of marketing variables known as the four Ps.Name and briefly describe each of the 4 Ps.

If the owners of Jalapeno's Restaurant,a Mexican eatery in St.Louis,open a second restaurant across town,have they created an SBU? Explain your answer.

DeFeet International started as a cyclist sock company.The founder,Shane Cooper,said that the existing socks for cyclists were just not of great quality so he made socks for his cycling team by knitting them inside out.The socks were of special materials aimed at giving the cyclist the most comfortable fit.These socks were not the traditional white socks but bright,bold,and flashy colored socks with cool graphics.These high tech socks were priced around $10 a pair.Their web site says "DeFeet is Made for Driven Soles." Soon cycling elites like Lance Armstrong and Greg LeMond were sporting the DeFeet brand.The company branched into running,hiking and snow gear.Their products include socks,armskins,calfskins,boxer briefs,gloves,and shirts for the serious athlete.They also have a custom department where socks,armskins,and gloves can be customized with any motif including sponsor types of logos like Michelin,Pabst Blue Ribbon,or BP.Even kids can enjoy DeFeet's high quality socks.DeFeet's products can be found in retailers across the world,in more than twenty countries,like Israel,Australia,Belgium and the United States.More than two-dozen online retailers also carry their products. -Refer to DeFeet International.DeFeet's _____ includes retailers and online retailers throughout the world.

Technol Medical Products makes specialty face masks to shield health-care workers from infection.Because it focuses on this narrow market,it is able to outsell its primary competitors-3M and Johnson & Johnson.Technol Medical Products has a(n):

Perhaps the broadest control device available to marketing management is the marketing audit.Describe this tool and its characteristics.

A production costs analysis could be a part of a company's SWOT analysis.

Each labor and delivery room at the new Dekalb County Medical Center has hardwood floors,soft lighting,and mission-style furniture.The facility also features a stone fireplace in the lobby,a bistro-style restaurant,and VIP suites for discerning mothers-to-be.This unique design and furnishings give the medical center a:

A planning manager visiting a company's health and beauty aids division discovers the division has no effective method for allocating resources,nor for evaluating actual results against planned results.He suggestion to the division would likely be to prepare a:

Niche competitive advantages are difficult to develop and consequently are quite rare.

When the Walt Disney Company opened Disneyland Paris for the French market,it was an example of market penetration.

By defining its business as "printing books" instead of "empowering imaginations," a children's book publishing company would more than likely experience:

A(n)_____ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments.

Which of the following is NOT a commonly studied macroenvironmental force?

Orange growers in Florida have lost millions of dollars due to hurricanes.As a result,some growers have decided to bulldoze their orange groves and put in freshwater lakes for raising shrimp,a product that has a strong popularity and is more weather-resistant.Former orange growers who are now raising shrimp are pursuing a _____ strategy.

In 2007,Kodak announced that their new line of EasyShare printers would be available only in Best Buy stores for the first three months following the product launch.This limitation on the _____ element of its marketing mix supported the product's competitive advantage.

The annual report of Albertson's grocery has the following statement: "Guided by relentless focus on our five imperatives,we will constantly strive to implement the critical initiatives required to achieve our vision.In doing this,we will deliver operational excellence in every corner of the Company and meet or exceed our commitments to the many constituencies we serve.All of our long-term strategies and short-term actions will be molded by a set of core values that are shared by each and every associate." This statement is an example of Albertson's:

Which of the following is a type of strategic alternative that tries to increase market share among existing customers?