Exam 2: Strategic Planning for Competitive Advantage

All of the following are basic strategies resulting from classifying the company's SBUs EXCEPT:

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

The Home Depot's purchase of Hughes Supply Company allows it to better meet the needs of its current business customers.This is an example of product development.

A portfolio model is a tool for allocating resources among products or strategic business units on the basis of relative market share and degree of innovation.

The implementation process can be described as simply "doing what you said you were going to do."

All of the following are categories used in the Boston Consulting Group's portfolio model EXCEPT:

Since gas prices have soared and consumers have cut back on their spending on new trucks and SUVs Ford Motor Corporation is transforming several of its plants to create small cars.Ford has engaged in:

All of the following are elements of the marketing plan EXCEPT:

Which of the following is NOT a type of competitive advantage?

Yard Whimzees,a Statesboro,Georgia sign business,began by making wooden signs for residential use to announce births,anniversaries,and such.The company then turned to the business market by making signs for businesses.Creating signs for a new market is an implementation of a _____ strategy.

The _____ answers the question,"What business are we in?"

Which of the following category in the portfolio model is a market leader and growing fast?

Which of the following represents a business unit that shows rapid growth but poor profit margins?

Fujisawa is Japan's seventh-largest pharmaceutical company.It sells drugs for organ transplant patients to increase the probability the new organ will operate efficiently and not be rejected.Currently,the only products Fujisawa makes are these organ transplant drugs,which it sells worldwide.Its patents protect it from competitors.Fujisawa has a:

Delta Faucet Company Masco is the name of a well-recognized company in the construction industry.It produces cabinetry,furniture,lighting,and plumbing fixtures for the upper-end homeowner and builder.One of the divisions of Masco is the Delta Faucet Company,which is the leader in the faucet industry.Delta Faucet was founded in 1955.Over the decades,it has developed a legacy based on well-crafted,high-quality products.Since the 1970s,Delta has focused its energies on building loyalty with the builder marketplace.Research in 2002 showed that while builders respect the Delta faucet for its quality,durability,and dependability,household consumers were not enamored with Delta products.Due to the number of new magazines and television programs devoted to home style,homeowners wanted faucets that were chic and stylish.This was not the image of the Delta Faucet.To change its image,Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners.It adopted a new slogan,"Beautifully Engineered." -Refer to Delta Faucet Company.The marketing program,which Delta designed to develop new products to appeal to homeowners,is an example of:

After learning that many of their customers were shopping at a nearby health-food store for free-range chickens and organic produce,IGA grocery stores began stocking more organic items.IGA adjusted its market strategy based on _____

Tub King is a small company that refinishes antique claw foot bathtubs,antique sinks,and provides training for bathtub refinishing.The company's 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.Tub King is conducting a(n):

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

Kraft foods created a magazine full of recipes and coupons for customers as well as a Web site with product and recipe information.The goal was to get current customers to purchase more of Kraft's products.These activities are representative of a _____ strategy.

The four Ps of the marketing mix are product,planning,promotion,and price.