Exam 2: Strategic Planning for Competitive Advantage

_____ provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within the budget guidelines.

From reading the Mary Kay case,which of the following would be the least important in its approach to one-to-one marketing?

Earl is starting a new bank.Before the opening day,Earl had a meeting with all employees.He discussed their mission,defined objectives for the bank for the coming years,and shared who their target market is.He talked about their product offerings and where their future branches would be located.Earl is sharing the bank's:

The final postaudit task is to:

Mary Kay recognizes geographic and ethnic segmentation.It also sees most women as having similar preferences.These would probably lead to what strategy?

Marketing plans should be written to do all of the following EXCEPT:

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 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 respected 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 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.While new home construction is not growing as rapidly as it once did,the number of homeowners who are remodeling bathrooms and kitchens is growing.According to the portfolio matrix,Masco would consider Delta a(n):

The marketing that exists between Mary Kay and its consultants is not B2B.

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

A _____ is a study conducted by an organization to identify its internal strengths and weaknesses and also examine external opportunities and threats.

Unlike other companies,Mary Kay must compete with other direct-selling firms for ____________ from a business-to-business perspective.

Subgroups of a single business or collection of related businesses within a larger organization are referred to as:

What is a competitive advantage? What makes a competitive advantage sustainable?

Kraft Foods created a magazine full of recipes and coupons for customers as well as a Web site with product and recipe information.The goal was to get current customers to purchase more of Kraft's products.These activities are representative of a _____ strategy.

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

_____ is the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives.

As a customer entered the Hornady store,which sells muzzleloading rifles,a salesperson approached her and said,"Hornady lead round balls are the musket balls you ought to buy.They are the most uniform in size and shape,and they are made of pure lead.Our shot is used by the Muzzle Loading World Champion." The salesperson was describing Hornady's:

Which of the following represents a business unit that shows rapid growth but poor profit margins?

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 were 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.Products include socks,armskins,calfskins,boxer briefs,gloves,and shirts for the serious athlete.DeFeet has a custom department where socks,armskins,and gloves can be personalized 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 20 countries like Israel,Australia,Belgium,and the United States.More than two dozen online retailers also carry DeFeet products. -Refer to DeFeet International.What kind of competitive advantage would you say DeFeet has?

Pure Digital Technologies created the Flip,a digital camera priced around $150.It filled a gap between expensive digital cameras and webcams.The Flip plugs straight into a computer,and the video can easily be viewed and shared instantly.Creating a new product for a new market is called _____.