Exam 2: Strategic Planning for Competitive Advantage

List the four basic strategies used once an organization has identified its strategic business units in terms of the portfolio matrix.Describe when each is used.

The company that manufactures Molson beer,which is typically consumed by males,launched an alcoholic lemonade beverage to attract more females.This launch of a new product to attract a new market for Molson's products is an illustration of a _____ strategy.

All of the following are elements of the marketing plan 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.Delta would most likely have gathered the information about how homeowners perceive its products through the use of a(n):

Which of the following segmentations are probably least important to Mary Kay?

Berkshire Hathaway Inc. ,a large property insurance company,owns a large chain of jewelry stores and has recently purchased Russell Corporation,a manufacturer of sporting goods.Berkshire Hathaway uses a market penetration strategy.

When Phusion Projects defended its product and compared it to mixing rum and Coke,it was actually repositioning Four Loko.

Perhaps the broadest control device available to marketing management is the marketing audit.Describe this tool and its characteristics.

_____ is the strategy of increasing sales by introducing new products into new markets.

Tide laundry detergent is the market leader,but overall industry growth is low in this market.Tide would be classified as a _____ in the portfolio matrix.

The founders of Phusion Projects went to college together and quickly founded their company after graduation.They did not need sophisticated market research to know their potential customers.

John R.Harland Company is best known for printing checks.Its Financial Solutions division develops software for mortgage companies,which is a growing industry.This division is currently not producing at the desired level of profitability,but Harland plans to turn the division into a success by acquiring other companies that develop similar software.To accomplish this,Harland will be engaging in a _____ strategy.

The Home Depot's purchase of Hughes Supply Company allows it to better meet the needs of its current business customers.This is an example of product development.

As marketers gain more experience in marketing a product,costs tend to decrease,which is an example of the maturity effect.

When Disney spins off one of its franchises,like a line of Hannah Montana jeans,it is building a sustainable competitive advantage.

When properly created,an SBU has all of the following characteristics EXCEPT:

Strategic plans require:

In the portfolio matrix,a business unit that has low growth potential and a small market share is called a(n):

A competitive advantage is some unique aspect of a firm's offering,or of the firm itself,that causes target customers to patronize the firm rather than its competition.

When McDonald's introduced yogurt parfaits,entrée salads,and fruit to offer their current customers more healthy options,the company was engaging in a _____ strategy.