Exam 2: Strategic Planning for Competitive Advantage

Which of the following statements about marketing audits is true?

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.

Which of the marketing mix elements is often the most flexible?

Heinz is introducing 400 new products in the next two years.To know which markets to reach,Heinz should first perform a:

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:

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 is known as a(n):

The _____ answers the question,"What business are we in,and where are we going?"

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 product Fujisawa makes is these organ transplant drugs,which it sells worldwide.Its patents protect it from competitors.Fujisawa has a:

Which of the following is NOT a type of competitive advantage?

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 is a _____ of Masco.

Novartis Novartis,a Swiss drug maker,is planning to purchase a majority stake in Zhejiang Tianyuan Bio-Pharmaceutical Company,a Chinese vaccine maker.Novartis has agreed to pay $125 million for the company,which holds a 3 percent share of China's $1 billion vaccines market.The market for vaccines is growing 20 percent or more in the developing nations of Asia,Africa,and Austral ia.In the past,vaccine use has been limited to basic shots against diseases such as polio,tuberculosis,and measles,but as the economies of these countries grow,government and private healthcare spending focuses on preventing diseases such as hepatitis B,cholera and rotavirus,tetanus,and others.Some critics are against the acquisition,claiming that prices will increase.Novartis claims it is not interested in raising prices but rather in expanding Tianyuan's product offerings. -Refer to Novartis.If Novartis goes through with the purchase of Tianyuan,it will become a subgroup of its overall pharmaceutical business and organization.Tianyuan will then be considered a _____ of Novartis.

Evaluation entails gauging the extent to which marketing objectives have been achieved during the specified time period.

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:

All of the following are characteristics of a good objective EXCEPT:

Lands' End guarantees its products for as long as you own them.The company would seem most concerned with which element of the marketing mix?

The _____ is a tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate.

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?

What is the most critical element in successful strategic planning?

Mary Kay's seeking consultants who fit the segmentation of the target market is a form of product user positioning.

A marketing audit is a(n):