Exam 2: Strategic Planning for Competitive Advantage

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

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(n)

A marketing audit is a(n):

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?

A written document that acts as a guidebook of marketing activities for the marketing manager is known as the _____.

Coca-Cola drink 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 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):

For most American consumers,the brand name Benetton brings to mind a retail-clothing store that carries many products that bear the Benetton brand.But Edizone Holding,which also owns a chain of restaurants,several toll roads in Italy,and a telecommunications company,holds the Benetton Group.The list of the company's holdings indicates that the company's managers believe in growth through:

Which of the following is a type of strategic alternative that matches products and markets?

Subgroups of a single business or a collection of related businesses within a larger organization are referred to as:

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

Golden Valley Microwave Foods,Inc.is the manufacturer of ACT II popcorn.In its early years,the company had trouble financing the development and marketing of products for the microwave,so it chose to participate in a financial arrangement in which it agreed that it would not sell ACT II popcorn in supermarkets or grocery stores.Which element of the marketing mix was most influenced by this arrangement?

There is an overabundance of apartments in Atlanta.Post Properties,the owner of many of the metropolitan area's largest apartment complexes,has reduced its rent so it can fill vacant apartments.Which marketing mix element did Post Properties change to create more demand for its apartments?

Heinz has announced that they plan to grow the company through an accelerated push into emerging markets such as China,Indonesia,and India in the next ten years.This is an example of:

The marketing plan is a written document that acts as a guidebook of marketing activities for a marketing manager.