Exam 2: Developing Marketing Strategies and a Marketing Plan

After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps,Monique now has to make _____________ decisions.

__________ involves the process of defining the marketing mix variables so that target customers have a clear,distinctive understanding of what a product does or represents in comparison with competing products.

Abercrombie & Fitch,a clothing retailer,includes a "SHARE" link on the product pages of its website.This link encourages an Abercrombie customer to post a link (perhaps showing a new style of jeans)on Facebook or Twitter.Abercrombie & Fitch hopes that the customer's friends (who are probably very much like current customers)will click the link,visit the page,and make purchases.This is an example of a __________ growth strategy.

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing.He knows that even with its recent high rate of growth and the fact that it dominates its market,he would need more money to establish it firmly.Using the BCG portfolio analysis,his product would be classified as a(n)

Lionel is asked to conduct an STP analysis for his firm.The first step he should perform in this analysis is to

The text describes Southwest Airlines,which operates in a competitive market but successfully differentiates itself from the competition.This gives Southwest a sustainable competitive advantage.What is a sustainable competitive advantage? Describe an example of a product or business you have encountered that has developed a sustainable competitive advantage.Why is that product's or firm's advantage sustainable?

The global athletic footwear market is expected to experience only very slow growth over the next several years.Nike is the market leader.According to Boston Consulting Group portfolio analysis,how should Nike treat its athletic shoe business?

Anita has gone to the same hair salon for the past ten years.She believes that her stylist,the salon owner,does a better job of cutting and styling her hair than anyone else could.Other salons have opened closer to Anita's home,some offering more plush facilities or lower prices,but she isn't tempted to switch.Anita's attitude toward the salon is an example of

After identifying various market segments that her company could pursue,Lisa evaluated each segment's attractiveness based on size,income,and accessibility.Lisa was involved in

Of what use is a sustainable competitive advantage to a firm?

To build a sustainable competitive advantage,companies should focus on a single strategy.

The first objective in the evaluate performance phase of the marketing planning process is to

Southwest Airlines is known for being the low-cost provider in the U.S.airline industry.What type of macro strategy has Southwest pursued?

Nordstrom,an upscale department store,has a well-known reputation for going the extra mile to serve its customers.This reputation for excellent customer service will most likely result in

Quitman Enterprises sells its business language dictionary to college students throughout the United States.Joseph Quitman,the owner,wants to start selling the book to international students abroad.Quitman wants to pursue a __________________ growth strategy.

In recent years,cellular (mobile)service providers have worked hard to eliminate "dead zones," providing customers with service wherever they traveled.By working to make the network available in more locations,cellular service companies were focusing on __________ value creation.

Suppose your university made a sizable investment in its career services-additional counselors,increased efforts to bring in recruiters,and other services aimed at helping students find jobs.This investment would enhance the university's _____________ in an attempt to create value for students and recent graduates.

Many states create licensing requirements for a variety of professionals (such as lawyers and accountants)designed to restrict entry into their market by professionals from other states.This strategy limits ____________ growth strategies.

Every summer,university administrators attempt to estimate how many students will show up in the fall.When August arrives,they hire part-time instructors and reassign faculty to teach the courses students want.In the spring,administrators often go on a retreat to consider how to do things differently next year.What phase of the strategic planning process do they engage in during each of the three seasons (summer,fall,and spring)?

As part of her company's SWOT analysis,Valerie is assessing the company's internal environment,including