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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 71

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Laura is reviewing sales data after a recent in-store promotion of her company's diet products.The data show success in some stores and limited response in others.Laura will probably next review the company's:

A) financial statements,to investigate current and past profits.
B) brand awareness study,to assess national levels of awareness.
C) implementation programs,to see if the promotion was handled consistently in the different stores.
D) results for other product lines,to see how important diet products are to the firm.
E) analysis of national diet trends,to predict future sales levels.

F) C) and E)
G) B) and E)

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Question 72

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Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantage?

A) Locational excellence
B) Customer excellence
C) Operational excellence
D) Product excellence
E) Planning excellence

F) All of the above
G) A) and E)

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Question 73

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Anita has gone to the same hair salon for the past ten years.She believes that her stylist,the salon owner,does a better job of cutting and styling her hair than anyone else could.Other salons have opened closer to Anita's home,some offering more plush facilities or lower prices,but she isn't tempted to switch.Anita's attitude toward the salon is an example of:

After finishing his marketing degree,Ryan inherited the family shrimp shack restaurant.The restaurant is a small,local institution that beach visitors have been coming to for decades.Ryan wants to make his business grow and is considering either a market penetration or market development strategy.Describe what Ryan will likely do if he pursues either strategy.

Of what use is a sustainable competitive advantage to a firm?

Zara is a women's clothing retailer headquartered in Spain,with stores located in many countries.Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences.Every aspect of Zara's operation is optimized for this system,making it difficult for competitors like The Gap to duplicate.Zara has established:

As the text states,"Firms typically are most successful when they focus on those opportunities that build on their strengths relative to those of their competition." Using the automobile industry in the United States,describe an example of this type of positioning strategy.

If Starbucks decided to start selling organic meals to corporate eating facilities,it would be pursuing a diversification strategy.

In order to effectively communicate value to target markets,marketers must first:

Imagine that you are in a gourmet food store choosing your favorite "comfort" food instead of being in a classroom taking this test.Notice the packaging,colors,labels,even the fonts used on labels.All of these efforts are part of the marketer's:

Brad is reviewing the performance of his franchise sandwich store.As a franchisee,he has access to comparative data from other stores.Brad will likely look at ____________ data for other stores to help him to evaluate his performance.

LeBron James,Alex Rodriguez,and other athletes are paid huge sums of money by companies for celebrity endorsements.If,endorsements by these athletes create a clear understanding among consumers of the companies' products,they can help with the firm's ________________ strategy.

Most banks now have customer relationship software which,when a customer contacts the bank,tells the service representative what types of accounts,loans,and credit cards the customer currently has.Service representatives use this information to sell some of the other services the bank currently offers to these customers.This is a ___________________ growth strategy.

Heather has been assessing a number of her firm's products using the Boston Consulting Group approach to portfolio analysis.She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors.Heather is trying to determine:

As discussed in the chapter opening,Dunkin' Donuts,Starbucks,and McDonald's have all found ways to succeed in the branded coffee market.How have they managed to do this?

Although most people do not have a personal marketing plan,when would one be appropriate?

Marketers who design and offer new products and services to their existing customers are pursuing a ____________________ growth strategy.

Boston Consulting Group's Portfolio Analysis classifies a company's products or product lines into a two-by-two matrix.What are the bases of classification and what are the products or product lines in each of the four quadrants called? What marketing strategies are usually considered for each of the four classifications?

Four companies dominate the cereal industry.These firms produce in large volumes,promote heavily,and control access to the supermarket shelves through "slotting allowances," which are payments to retailers in return for shelf space.Combined,these four firms have:

Narbonne's,an upscale department store,instructs sales personnel that whenever a customer asks where something is,they should drop what they are doing and offer to escort the customer to what they are looking for.The company's reputation for excellent customer service has probably resulted in: