Exam 2: Strategic Planning for Competitive Advantag

American Express offers customers a Cobaltcard,a pre-loaded credit card,to thirteen- to twenty-two-year olds looking to make on-line purchases.While American Express had previously supplied credit cards only to many adults,this was a market that was not being served.The Cobaltcard program is an example of a _____ strategy.

Typically,the development of the marketing mix starts with the identification of potential target markets.

Thermo Electron Corp.,the biggest maker of measurement instruments for medical laboratories,agreed to buy the radiation-monitoring products unit of Compagnie de Saint-Gobain for $30 million to gain European customers.Saint-Gobain (of France)is Europe's number 1 distributor of building materials,and its radiation monitoring unit did not support the company's mission statement.This means that:

A marketing audit is a control device and is used primarily by large corporations to study past performance

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:

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

_____ is the collection and interpretation of information about forces,events,and relationships that may affect the organization.

Perhaps the broadest control device available to marketing management is the marketing audit.Describe this tool and its characteristics.

Which of the following is one of the elements of the marketing plan?

Solitude Nurseries is a retailer that helps homeowners create backyard sanctuaries for pondering the wonders of nature.Its owner believes he maintains the loyalty of the store's customers by stocking only the highest quality merchandise and offering a customer satisfaction guarantee.With which element of the marketing mix is the manager most concerned?

SCENARIOS Eastman Kodak Co. As the head of Eastman Kodak Co.,George M.C.Fisher devised a plan to save Kodak from being trapped in the slow growth photography industry,hobbled by huge debts,a dysfunctional management culture,and a dispirited workforce.At the time of his takeover of Kodak,the product development and sales functions for the company were scattered among divisions,and the business mission was ill-focused.Fisher envisioned a long-term strategy in which Kodak focused on its core competencies.By evaluating the pros and cons associated with its various businesses,Fisher decided that imaging was the key to the future.He then sold Kodak's health and household-products arms.He also assembled most of the corporate talent into one division and hired an experienced computer marketing executive to head it.Further,by stressing accountability,quality,and cycle time,Fisher began to transform Kodak's slow moving culture.Fisher believes Kodak could double its growth rate in photography,a tough challenge in a slow-growing market,by becoming more global and by challenging Fujifilm in China. -Refer to Delta Faucet.The Delta Faucet Company is a _____ of Masco.

Arizona Tea is marketed by Vultaggio & Sons.Vultaggio & Sons took a basic drink and put it into unusual bottles with elaborate designs.The wide-mouthed,long-necked bottles are now considered to be trendsetters in the new age beverage industry,and customers often buy the tea just for the bottle.The success of Arizona Tea is based on:

What is a marketing objective? Name three criteria for good marketing objectives,and give a specific example of an objective.

Compass is the name of a United Kingdom-based catering company that has developed a marketing plan designed to make it the largest caterer in China within the next two decades.As part of its marketing _____,it has begun serving meals on trains that run between Shanghai and Beijing.

Juniper Group,which operates film distribution,health care,and Internet businesses,purchased shoemaker Tags Golf (Tags makes Bobby Jones brand golf shoes)to create its sports division.Juniper Group used a _____ strategy.

SCENARIOS Eastman Kodak Co. As the head of Eastman Kodak Co.,George M.C.Fisher devised a plan to save Kodak from being trapped in the slow growth photography industry,hobbled by huge debts,a dysfunctional management culture,and a dispirited workforce.At the time of his takeover of Kodak,the product development and sales functions for the company were scattered among divisions,and the business mission was ill-focused.Fisher envisioned a long-term strategy in which Kodak focused on its core competencies.By evaluating the pros and cons associated with its various businesses,Fisher decided that imaging was the key to the future.He then sold Kodak's health and household-products arms.He also assembled most of the corporate talent into one division and hired an experienced computer marketing executive to head it.Further,by stressing accountability,quality,and cycle time,Fisher began to transform Kodak's slow moving culture.Fisher believes Kodak could double its growth rate in photography,a tough challenge in a slow-growing market,by becoming more global and by challenging Fujifilm in China. -Refer to Eastman Kodak Co.By redefining the business to focus on imaging technology,Fisher created a new:

Ocean Spray's development of Craisins sweetened dried cranberries to compete against raisins most directly affected the _____ element of the company's marketing mix.

Which of the following statements about strategic planning is true?

A U.S.soft drink company conducting a SWOT analysis of market potential in India should be aware that all the following are potential threats EXCEPT:

Which of the following is NOT a common reason why companies fail to achieve a marketing objective?