Exam 3: Strategic Planning for Competitive Advantage

_____ is a marketing strategy that creates new products for present markets.

In the past,PajamaGram marketed pajamas only to women.Now the company offers pajamas for men and children.This is an example of a _____ strategy.

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):

Novartis Novartis, a Swiss drug maker, is planning to purchase a majority stake in Zhejiang Tianyuan Bio-Pharmaceutical Company, a Chinese vaccine maker. Novartis has agreed to pay $125 million for the company, which holds a 3 percent share of China's $1 billion vaccines market. The market for vaccines is growing 20 percent or more in the developing nations of Asia, Africa, and Australasia. In the past, vaccine use has been limited to basic shots against diseases such as polio, tuberculosis, and measles, but as the economies of these countries grow, government and private healthcare spending focuses on preventing diseases such as hepatitis B, cholera and rotavirus, tetanus, and others. Some critics are against the acquisition, claiming that prices will increase. Novartis claims it is not interested in raising prices but rather in expanding Tianyuan's product offerings. -Refer to Novartis.One thing Novartis plans to do is increase sales to governments and to the United Nations agencies since these are the typical buyers of vaccines to distribute in poor countries.Thus,the company is willing to give up short-term profits to increase market share for this company.In terms of the portfolio matrix,which basic strategy will Novartis be implementing?

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

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

Until spun off in 2007,Kraft was part of Altria Group,Inc.Kraft had its own management team,mission statement,and target markets different from Altria.Kraft was a _____ of Altria.

. All of the following are characteristics of a good objective EXCEPT:

Market penetration occurs when:

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

_____ is the process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives.

Pure Digital Technologies created the Flip,a digital camera priced around $150.It filled a gap between expensive digital cameras and webcams.The Flip plugs straight into a computer,and the video can easily be viewed and shared instantly.Creating a new product for a new market is called _____.

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

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):

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):

Name and describe the four strategic alternatives in Ansoff's strategic opportunity matrix,which matches products with markets.For each of the four strategic alternatives,give a specific example of a firm following that strategy.

All of the following are categories used in the Boston Consulting Group's portfolio matrix EXCEPT:

_____ is a strategy of increasing market share for present products in existing markets.

An advantage that cannot be copied by the competition is called a(n)_____ competitive advantage.

Yuengling is the oldest brewery in the United States.It was founded in 1827 in a time when small breweries dotted the nation.For many years,the brewery only sold in a ten-state area on the Eastern Seaboard.For over 170 years,this strategy gave the brewery a: