Exam 2: Strategic Planning for Competitive Advantage

What is a SWOT analysis? How does it relate to strategic planning?

The most critical element for successful strategic planning is top management's support and participation.

All of the following are strategic alternatives that match products with markets EXCEPT:

Coca-Cola vending machines are found all over the world.The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink.The reason for the introduction of this new style of vending machine is to "allow the company to interact more directly with its customers." According to a SWOT analysis,the technology used by these machines is an example of a(n):

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.Since Delta was already marketing to homeowners (although not very successfully),its development of new styles of faucets to appeal to this underserved market would be an example of a _____ strategy.

LVMH,a maker of luxury goods,has expanded its products offerings into China,Russia,India,and the Middle East.This exemplifies a _____ strategy.

Years ago,Arm & Hammer baking soda convinced millions of homemakers that their product could be effective in keeping refrigerators smelling fresh.After years of languishing sales,this campaign led to a huge increase in sales of a simple,basic product.This is a classic example of a _____ strategy.

Name the person or persons most critical to the strategic plan behind the success of Disney's individual franchises.

If Disney created a Jonas Brothers wristwatch packaged with their latest CD,which only sold in its theme park gift shops to maximize profits over CD sales in third-party outlets,Disney would be pursing what strategy?

If market share is maintained,stars are likely to grow into:

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

It was the __________,that psychological factor in particular,which made Loko Four seem healthy,even good for you.

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.The reputation the Delta faucet has for its quality,durability,and dependability among builders is an example of a(n):

In determining that Disney could achieve a technological advantage in purchasing Pixar as well as appeal to a smaller number of younger children with the most appealing animation,which of the following processes would help most in making that determination?

Aldi is a no-frills grocery chain.It sells grocery staples right out of crates and boxes with emphasis on low-priced,private label brands.Aldi stores are typically about one-third the size of the traditional supermarket.By controlling expenses,Aldi enables its customers to save 30 to 50 percent compared to Kroger customers.The chain targets bargain hunters who are willing to rent a cart and bag their own groceries.Aldi has a:

Coca-Cola vending machines are found all over the world.The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink.Critics of these new vending machines are concerned that entertaining technology is being used to market sugary products.In terms of a SWOT analysis,this concern would be an example of a(n):

All of the following are sources of a cost competitive advantage EXCEPT:

What consumer value does the Four Loko address that is in the American tradition of such products as the Egg McMuffin and the breakfast bar?

In the portfolio mix,notebook computers would be an example of a star.

Strategic planning is most effective when managers view it as an annual exercise.