Exam 2: Strategic Planning for Competitive Advantage

Strategic plans require:

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 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. Their products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. They also have a custom department where socks, armskins, and gloves can be customized 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 twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online retailers also carry their products. -Refer to DeFeet.What is DeFeet's most likely target market strategy?

The Heritage Bank is unaware of all the many tools available that will let marketers examine a firm's processes and identify potential areas for improvement.This firm wants to examine all of its goals,strategies and structure,to ensure it's on the right track and doing things well.The Heritage Bank has hired you as an outside consultant to recommend a plan of action.What do you suggest and why?

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 Faucet 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 respect 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 Faucet 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 Delta Faucet Company is a _____ of Masco.

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

In order to expand its sales into the U.S.market,BRL,an Australia-based winemaker,agreed to a merger with a U.S.-based wine distribution company.According to Ansoff's Strategic Opportunity Matrix,BRL would be implementing a _____ strategy.

Apple Inc.is now offering the iPhone 3G for half its original price.This new strategy reflects a change in the _____ element of its marketing mix.

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

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

Which of the following category in the Boston Consulting Group's portfolio matrix is a market leader and growing fast?

_____ is the managerial process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities.

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 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. Their products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. They also have a custom department where socks, armskins, and gloves can be customized 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 twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online retailers also carry their products. -Refer to DeFeet.DeFeet's _____ includes advertising,public relations,sales promotions,and personal selling.

An international company that needs to develop a way to compare its actual marketing results with planned results must engage in:

An essential part of marketing strategy is target market strategy.Selection of target market(s)drives marketing objectives and selection of the marketing mix (the four Ps).What are the three general strategies for selecting target markets?

_____ show costs declining at a predictable rate as experience with a product increases.

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 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. Their products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. They also have a custom department where socks, armskins, and gloves can be customized 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 twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online retailers also carry their products. -Refer to DeFeet.DeFeet's _____ includes retailers and online retailers throughout the world.

Everyone knows the brand name Kleenex.Kleenex is what many consumers think of when they think of tissues.This widely recognized brand name is a source of:

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

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

Making sure products are available when and where customers want them is the job of which element of the marketing mix?