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Exam 3: Strategic Planning for Competitive Advantage

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Question 41

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What is a marketing objective? Name three criteria for good marketing objectives.Use the criteria to write an objective for a business with which you are familiar.

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A marketing objective is a statement of ...

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Question 42

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

A) promotion
B) price
C) publicity
D) place

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Question 43

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The manufacturer of Gifts of Nature All-Purpose Gluten-Free Flour is unaware of all the many tools available that will let marketers examine a firm's processes,and identify potential areas for improvement.This firm wants to examine all of its goals,strategies,and structure to ensure it's on the right track,and doing things well.Gifts of Nature has hired you as an outside consultant to recommend a plan of action.What do you suggest,and why?

Compaq Computer's decision to charge customers for phone technical support to defray the high cost of phone support and encourage customers to read documentation was a failure because consumers like the human touch.Customer rebellion forced Compaq to rethink this policy.As a result,Compaq decided to focus its resources on reaching the inexpensive home computer market segment through enhanced customer service.What did Compaq engage in?

Price Chopper is a no-frills grocery chain.It sells grocery staples right out of crates and boxes with emphasis on low-priced,private-label brands.The chain targets bargain hunters who are willing to rent a cart and bag their own groceries. -Refer to Price Chopper.Compared to the other grocery stores,Price Chopper has which of the following?

Research has shown that young people below the age of 15 do not use the familiar red ketchup as much as older individuals.To capture this market,Heinz markets blue-,purple- and green-coloured 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,which type of strategy does it exemplify?

What does the promotion strategy of the marketing mix deal exclusively with?

In terms of Armani's situation analysis,what would the trend toward luxury lifestyle consumerism be an example of?

What would an international company need to engage in to develop a way to compare its actual marketing results with planned results?

As the head of Eastman Kodak Company,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 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 Fuji film in China. -Refer to Eastman Kodak Company.Pruning product lines and assembling the corporate talent into one division,often results in a cost competitive advantage.Which of the following terms best describes this process?

In its shareholders' report,PepsiCo 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." This statement can be classified as which of the following?

What is the term for the process of gauging the extent to which marketing objectives have been achieved during a specified time period?

Which of the following is a strategy of increasing market share for present products in existing markets?

What is the term for the unique blend of product,distribution,promotion,and pricing strategies designed to produce mutually satisfying exchanges with a target market?

What is the strategy of increasing sales by introducing new products into new markets?

After management agrees on a mission statement,it must set objectives.Which of the following is NOT necessarily a characteristic of a good objective?

Before Heinz sold its 9-Lives brand cat food unit,the company identified the product as having a low market share in a high-growth market.How would the portfolio matrix classify 9-Lives?

Baths from the Past is a small company that sells reproduction sinks,bathtubs,toilets,and faucets.Company management is currently conducting a formal study of its current strengths and weaknesses by looking at the company's profit and sales histories and searching for opportunities and threats by studying consumer trends.What is Baths from the Past conducting?

Coca-Cola drink 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 ring tones after they have bought a drink.The reason for the introduction of this new-style vending machine is to "allow the company to interact more directly with its customers." According to a SWOT analysis,what are the technology used by these machines and the need to interact with customers both examples of?

All the following are environmental forces an Ontario fruit grower with both orchards and a packaging/shipping facility might consider when making marketing decisions.What factor is LEAST likely to impact its marketing decisions?