Exam 2: Strategic Planning for Competitive Advantage

What is a marketing objective? Name three criteria for good marketing objectives.Use the criteria to write an objective for a business with which you are familiar.

PepsiCo's annual report has the following statement: "Our business is to increase the value of our shareholder's investment.We do this through sales growth,cost controls and wise investment of resources.We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe,wholesome,economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity." This statement is an example of PepsiCo's:

Fujisawa is Japan's seventh-largest pharmaceutical company.It sells drugs for organ transplant patients to increase the probability the new organ will operate efficiently and not be rejected.Currently,the only products Fujisawa makes are these organ transplant drugs,which it sells worldwide.Its patents protect it from competitors.Fujisawa has a:

NARRBEGIN: DeFeet International DeFeet International 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.DeFeet branched from making socks for cyclists to making apparel for skiing,hiking,corporate sponsors,and kids.This is an example of which of Ansoff's strategic alternatives?

What is marketing myopia? If a movie theater company had a myopic orientation,how might it state its business purpose? If the movie theater company avoided a myopic orientation,how would its business purpose change?

With hospitals nationwide facing budget cuts and slimmer profit margins,Dekalb County's Medical Center decided to cash in on one of the most consistently profitable services--delivering babies.It initiated a three-year project to build a $55 million state-of-the-art women's center with 18 labor and delivery suites.When the hospital decided to commit its resources to obstetrics,it was engaging in:

_____ is the strategy of increasing sales by introducing new products into new markets.

NARRBEGIN: DeFeet International DeFeet International 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.DeFeet's _____ is what its customers give up to obtain their apparel.

The starting point of any firm's marketing mix is the:

SoBe nutritional beverages uses twin lizards on every bottle of its products and in all of its promotion efforts.It even has its own Team Lizard made up of skateboarders,mountain bike riders,and inline skaters that it sponsors.The lizard is used to remind consumers of the product and its benefits.To which of the four Ps does this represent?

The four Ps of the marketing mix are product,planning,promotion,and price.

A marketing audit is a(n):

Heinz has announced that they plan to grow the company through an accelerated push into emerging markets such as China,Indonesia,and India in the next ten years.This is an example of:

NARRBEGIN: DeFeet International DeFeet International 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.DeFeet's _____ includes retailers and online retailers throughout the world.

A competitive advantage is the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition.

_____ occurs when a business is defined in terms of goods and services rather than by the benefits customers seek from it.

NARRBEGIN: Delta Faucet Delta Faucet Company Masco is the name of a well-recognized company in the construction industry.It produces cabinetry,furniture,lighting,and plumbing fixtures for the upper-end homeowner and builder.One of the divisions of Masco is the Delta Faucet Company,which is the leader in the faucet industry.Delta Faucet was founded in 1955.Over the decades,it has developed a legacy based on well-crafted,high-quality products.Since the 1970s,Delta has focused its energies on building loyalty with the builder marketplace.Research in 2002 showed that while builders respect the Delta faucet for its quality,durability,and dependability,household consumers were not enamored with Delta products.Due to the number of new magazines and television programs devoted to home style,homeowners wanted faucets that were chic and stylish.This was not the image of the Delta Faucet.To change its image,Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners.It adopted a new slogan,"Beautifully Engineered." -Refer to Delta Faucet Company.Delta's decision to make more stylish faucets represents a change in the _____ element of its marketing mix.

The focus of an organization's mission statement should be on:

A portfolio matrix is a tool for allocating resources among products or strategic business units on the basis of relative market share and degree of innovation.

The manufacturer of Macho brand martial arts products was implementing a strategic plan when it sponsored a local karate tournament for teenagers.