Exam 2: Strategic Planning for Competitive Advantage

What is the difference between planning,strategic planning,and marketing planning?

The Hallmark Company was inspired by the popularity of Jan Karon's best-selling novels about Mitford,a fictional town in the mountains of North Carolina,to develop a new line of products for Hallmark Gold Crown Stores nationwide.Hallmark created hundreds of Mitford-inspired products that authentically bring "the little town with the big heart" into tangible reality.The products include greeting cards,partyware and gift wrap,mugs,and puzzles for Hallmark's existing customers.Hallmark used a _____ strategy.

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.Delta's decision to make more stylish faucets represents a change in the _____ element of its marketing mix.

Stump's Hot Olives are manufactured by a family business in Wisconsin and are sold in Midwestern grocery stores,through mail order,and to a few local restaurants.The company has been in operation since 1998 and relies on labor from family and friends to produce and package olives in attractive,reusable glass containers.Stump's uses store demonstrations to introduce its spicy olives to new customers.Discuss how this company can establish or maintain at least one of the three types of competitive advantage.

Arizona Tea is marketed by Vultaggio & Sons.Vultaggio & Sons took a basic drink and put it into unusual bottles with elaborate designs.The wide-mouthed,long-necked bottles are now considered to be trendsetters in the new age beverage industry,and customers often buy the tea just for the bottle.The success of Arizona Tea is based on:

Four Loko is obviously a product that relies on peer pressure and self-image.Does this product depend on nonaspirational groups in influencing its consumers? Choose the best answer.

In 2011,Diamond Foods,Inc.purchased Pringles from Procter & Gamble.The decision to purchase Pringles represented a(n)_____ to Diamond Foods.

General Motors Corporation has a goal of launching an electric vehicle soon.The car has been in test-drives,and GM is in the process of working out any bugs that may occur.GM also is in the process of working toward mass production of the vehicle.The company is in which stage of the marketing plan?

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.DeFeet's _____ includes advertising,public relations,sales promotion,and personal selling.

Name and describe the three requirements for effective strategic planning.

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

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.If you were to define DeFeet's mission,which would be most appropriate?

University and governmental policymakers responded to consumer behavior rather than the legality of Four Loko.

Mary Kay's relies on consultants and direct-selling,which is essentially one-to-one marketing.

All of the following are common reasons why companies fail to achieve a marketing objective EXCEPT:

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

The decision to purchase Pixar was to revitalize Disney's animation business.Which of the following most likely have helped in reaching that decision?

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.DeFeet's _____ is high-tech apparel,the packaging it comes in,and the brand name,company image,and value.

A marketing audit helps management allocate marketing resources efficiently.

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.His suggestion to the division would likely be to prepare a: