Exam 2: Strategic Planning for Competitive Advantage

Le Feast is a catering company that has developed a marketing plan designed to make it the largest caterer in the country within the next two decades.Which of the following will be useful to the company to evaluate how successful its efforts have been at the end of the first decade?

Typically,the development of the marketing mix starts with determining the promotion for a product.

Russell Athletic,which is part of Berkshire Hathaway,Inc. ,is a market leader in sports apparel,an industry that is growing rapidly.Russell Athletic is an example of a(n)_____ according to the portfolio matrix.

Disney's change in strategy would,if applied to developing a mission statement,would emphasize serving a target audience of young people.

GEICO Insurance ads often focus on its reptilian mascot,the GEICO Gecko,who is used to remind consumers of the company and its benefits.To which of the four Ps does the GEICO Gecko represent?

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 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?

Which of the following categories in the portfolio matrix is a market leader and growing fast?

Before Heinz sold its 9-Lives brand cat food unit,the company identified the product as having a low market share in a high-growth market.The portfolio matrix would classify 9-Lives as a(n):

In the end,Phusion Products had to remove caffeine and other stimulants that masked Four Loko's inebriating effects.New variations of the product will be an alcoholic beverage.This is an example of __________.

What is environmental scanning? Name four environmental forces that affect marketing decision making.

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

In the mid-1980s,the market for teenage clothes was growing quickly,but jeans were out of fashion.Levi's re-launched their jeans,led by advertising for 501s,which had never been a fashionable jean style.Within a few months,sales factors had increased dramatically,turning a ______ into a star.

When a florist shop begins to sell burial caskets to its customers,it is engaged in product development.

A statement of the firm's business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions is known as a(n):

You are tasked with doing a market opportunity analysis (MOA)of Disney's target markets.Which division(s)might create the most value by appealing to each of those markets?

In the General Electric model,SBUs that have low overall attractiveness should be avoided if the organization is not already serving them.

The company's objective is to increase sales next year.This is an example of a well-stated objective.

The harvest strategy is appropriate for all SBUs except dogs.

A(n)_____ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments.

Mary Kay is not only vulnerable to losing a younger generation of consultants to direct-sellers like itself.