Exam 2: Strategic Planning for Competitive Advantag

The term _____ would be used to describe Hispanic males between the ages of 12 and 19.

Through the use of environmental scanning,the manufacturers of video games for Xbox and PlayStation2 could:

In 2004,Giorgio Armani,the Italian fashion group,announced plans to launch a $1 billion international luxury hotel chain containing ten hotels and four resorts before the end of 2015.Through conducting a(n)_____,Armani identified a large and growing segment of the market that wanted a luxury lifestyle.

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

A _____ is a statement of what is to be accomplished through marketing activities.

The focus of an organization's mission statement should be on:

Which of the following is NOT a source of a cost competitive advantage?

A competitive advantage is some unique aspect of a firm's offering,or of the firm itself,that causes target customers to patronize the firm rather than its competition.

Research has shown that people below the age of fifteen do not use the familiar red ketchup.To capture this market,Heinz markets blue-,purple- and green-colored ketchup.The ketchups have an exotic look,which Heinz hopes will appeal to this market.It still tastes like the old red variety.Since this is not really a new product,just an attempt to reach a new target market,it exemplifies a _____ strategy.

The promotion strategy of the marketing mix deals exclusively with:

Anbac Financial Group,Inc.is the second-largest insurer of municipal bonds in the world.Anbac is expanding its insurance services from governmental accounts to include private developers of sports stadiums and similar large multi-use facilities.According to Ansoff's Strategy Opportunity Matrix,Anbac would be implementing a _____ strategy.

The television network HBO produces the drama The Sopranos about a New Jersey mob family.It is publishing The Sopranos Family Cookbook: As Compiled by Artie Bucco,a collection of southern Italian-style recipes.Bucco is the name of a fictional restaurateur in the show.The creation of the cookbook to appeal to fans of the show is an example of a _____ strategy.

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

Enzo Fierro has just finished constructing the marketing plan for a new line of low-carb salad dressings.After selecting his target market and specifying the elements of the marketing mix,he next should:

In its stockholders' report,PepsiCo.has a _____ that states "...our business is to increase the value of our shareholder's investment.We do this through sales growth,cost controls and wise investment of resources.We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe,wholesome,economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity..."

Managers at Bolsum Aerospace Company have recently attended several special meetings where issues such as the creation of marketing objectives,a situation analysis,delineating a target market strategy,and modifying components of the marketing mix have been discussed.Bolsum Aerospace is apparently engaged in:

Aldi is a no-frills grocery chain.It sells grocery staples right out of crates and boxes with emphasis on low-priced,private-label brands.Aldi stores are typically about one-third the size of the traditional supermarket.By controlling expenses,Aldi customers can expect to save 30 to 50 percent compared to Kroger customers.The chain targets bargain hunters who are willing to rent a cart and bag their own groceries.Aldi uses _____ to create its competitive advantage.

A firm's mission statement should answer the question,"What products do we produce best?"

Thomas Office Supply has developed a clipboard design that will better fulfill the needs not only of its customers in the hospital market,but also of potential new customers in the educational market.This is an example of diversification.

SoBe nutritional beverages uses twin lizards on every bottle of its products and in all of its promotion efforts.It even has its own Team Lizard made up of skateboarders,mountain bike riders,inline skaters that it sponsors.The lizard is used to remind consumers of the product and its benefits.To which of the four P's does this strategy relate?