Exam 2: Strategic Planning for Competitive Advantag

Hallmark was inspired by the popularity of Jan Karon's best-selling novels about Mitford,a fictional town in the mountains of North Carolina,to develop a new line of products for Hallmark Gold Crown Stores nationwide.Hallmark created hundreds of Mitford-inspired products that authentically bring "the little town with the big heart" into tangible reality.The products include greeting cards,partyware and gift wrap,mugs,and puzzles for Hallmark's existing customers.Hallmark used a _____ strategy.

As a customer entered the Hornady store,which sells muzzle loading rifles,a salesperson approached her and said,"Hornady lead round balls are the musket balls your customers 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:

_____ provides the mechanism for evaluating marketing results in light of the marketing plans' goals and for correcting actions that do not help the marketing organization reach these objectives within the budget guidelines.

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.As Kodak actively redefined its business mission,organization culture,global strategy,and so on,it was engaged in:

Shortly after the start of the new century,Wrigley,the largest chewing gum manufacturer in the world,bid $12 billion for Hershey chocolate.Wrigley was unable to acquire Hershey,but its acquisition attempt would have expanded Wrigley's product lines to include many forms of baking and eating chocolate.Since Wrigley did not produce any chocolate at the time of the takeover bid,this acquisition would an example of:

A(n)_____ describes and estimates the size and sales potential of market segments of interest to the firm,and assesses key competitors in these market segments.

An SBU:

Yuengling is the oldest brewery in the United States.It was founded in 1827 in a time when small breweries dotted the nation.It has survived by severely limiting sales of the beer and creating a mystique about the brand.In areas,where the beer is sold,its brand name is used the same as Kleenex is used by many to represent all types of tissues.Its competitors all wanted to expand their markets.Yuengling's strategy was "To do nothing." For over 170 years,this strategy has given the brewery a:

Marketing plans should be written to do all of the following EXCEPT:

_____ is the process of gauging the extent to which marketing objectives have been achieved during a specified time period.

Marketing objectives should be consistent with organization objectives,they should be measurable,and they should specify the time frame during which they are to be achieved.

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 marketing program,which Delta designed to develop new products to appeal to homeowners,is an example of:

A planning manager visiting a company's health and beauty aids division discovers that the division has no effective method for allocating resources,nor for evaluating actual results against planned results.He suggests the division should prepare a:

The development of a target market strategy begins with a market opportunity analysis (MOA).

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.Saint-Gobain sold one of its:

The _____ is the unique blend of product,distribution,promotion,and pricing strategies designed to produce mutually satisfying exchanges with a target market.

The manufacturer of Revlon cosmetics was implementing a strategic plan when it provided its retailers with display units promoting its new shades of summery lipsticks.

Describe the three key activities of a market opportunity analysis.

The marketing audit:

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