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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 41

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Several years ago,the Florida Orange Juice Growers Association ran a promotional campaign with the slogan: "Orange juice.It isn't just for breakfast anymore." Based on this slogan,which of the four growth strategies was the association pursuing? Briefly explain your reasoning.

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The best answer is that this is a market...

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Question 42

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Portfolio analysis is a useful and powerful tool,but firms often need to take a more balanced approach because:

A) measures are difficult to obtain and project.
B) classifications can become self-fulfilling prophecies and strengths and weaknesses are distorted.
C) substitute approaches can offer different insights.
D) All of these.
E) None of these.

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Question 43

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Abercrombie & Fitch,a hip clothing retailer,includes a "Share it!" button on its website.This button encourages an Abercrombie customer to post a link to a product page (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.

3M involves its customers in the process of developing new products.In this way,it can benefit from current customers' insights and develop new products that will meet these customers' needs.3M is pursuing a ______ growth strategy.

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.

Price should be based on the value that the customer perceives.

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)?

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

Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a Weakness.

H&R is a small,local heating and air conditioning business.The area military base is a potential source of growth,and H&R already installs and services the type of equipment the military would require,but it is difficult to get established as a certified government contractor.H&R is considering a ____________ growth strategy.

When catalog companies send sale catalogs to their current customers,which type of growth strategy are they pursuing?

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies,it can be difficult to:

Craig sees that his company's quarterly sales and profits are significantly above projections and says,"That's great.Let's keep doing what we've been doing." Craig is ignoring the ______ step of the marketing planning process.

For many years,Southwest Airlines distinguished itself as the low-cost airline.Now,many other low-cost competitors have entered the market.Similarly,Southwest was one of the first airlines to offer online ticketing.Now,all airlines have online ticketing.These examples suggest that:

Sarah has decided to pursue a market penetration strategy for her French cookware product line.She will likely increase advertising and sales promotion.She may also consider:

Suppose that you and a friend decide to turn your favorite sports activity--inline skating--into a business.You plan to design a line of fashionable clothing that integrates elbow and kneepads.For each of the four macro strategies,briefly describe the most important thing your company should do if you intend to focus on that strategy.Your answers should be specific to the inline skating business.

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Carla has been directed by her regional marketing manager to cut prices on seasonal items,submit an ad in the local paper,and tell distributors to reduce deliveries for the next month.Which step of the strategic marketing planning process is Carla engaged in?

The goal of a customer excellence strategy is to gain loyal customers.Customer loyalty can be developed through:

One example of a customer loyalty program is: