Exam 3: Strategic Planning for Competitive Advantage

A popular technique for managing a large organization with different technologies and markets is to divide it into:

Environmental scanning entails the collection and analysis of information about factors that may affect the organization as well as the identification of market opportunities and threats.

Smucker's purchased Folgers Coffee in 2008.The option to buy Folgers represented a(n)_____ to Smucker's.

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.By acquiring Tianyuan,Novartis will be offering vaccines,which is a product that it currently offers in its existing markets,to new markets for the company.This is an example of which strategic alternative?

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

As a customer entered the Hornady store,which sells muzzleloading rifles,a salesperson approached her and said,"Hornady lead round balls are the musket balls you ought to buy.They are the most uniform in size and shape,and they are made of pure lead.Our shot is used by the Muzzle Loading World Champion." The salesperson was describing Hornady's:

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.

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?

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

Zipcar is a car rental service found in many metropolitan areas.It targets people who take mass transit or carpool to work but who occasionally need a car to run errands,visit the doctor,or check on a sick child.Zipcar is one of a few companies currently providing cars that can be rented by the hour.Zipcar has created a(n)_____ advantage.

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

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's _____ is high-tech apparel,the packaging it comes in,and the brand name,company image,and value.

_____ is a strategy that attempts to attract new customers to existing products.

The _____ is a tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate.

Coca-Cola 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 of 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):

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.

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's decision to make more stylish faucets represents a change in the _____ element of its marketing mix.

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

Developing a cost competitive advantage can enable a firm to deliver superior customer value.

InBev bought Anheuser-Busch.How will this purchase affect InBev's marketing mix?