Exam 2: Developing Marketing Strategies and a Marketing Plan

Delta Airlines is among the companies experimenting with selling products and services on their Facebook pages.The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices.There is no need even to navigate to Delta's website--users can book a trip in Delta's "Ticket Agent" application without ever leaving Facebook.Which element of the marketing mix does this represent?

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.

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:

In its discussion of Nike and adidas,two major athletic shoe manufacturers,the text mentions that Nike has purchased Umbro,a sports brand that has appealed mainly to soccer (European football)enthusiasts in the past.This action suggests that Nike intends to compete head to head with adidas,which got its start designing soccer shoes.On a SWOT analysis for adidas,how should Nike's acquisition of Umbro be categorized?

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.

Your marketing professor,Dr.Marketing,has been asked to participate in the university's strategic marketing planning process.After completing the first three steps of the process,Dr.Marketing has been asked to assist with implementing the marketing mix and allocating resources.What questions will Dr.Marketing ask? Be specific to the university's strategic marketing planning process.

Introducing newly developed products or services to a market segment the company is not currently serving is called:

Value creation through Place decisions for a consumer product involves:

__________ involves the process of defining the marketing mix variables so that target customers have a clear,distinctive understanding of what a product does or represents in comparison with competing products.

After defining the business mission,what should a firm do next to develop a marketing plan?

Isaac is looking for ways to offer new goods and services to his existing customers.He is pursuing a market development strategy.

For U.S.businesses with strong export capabilities,expansion of U.S.trade agreements with other countries creates:

A competitive advantage based on location is often sustainable because:

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.

The global athletic footwear market is expected to experience only very slow growth over the next several years.Nike is the market leader,with a market share of approximately 33 percent.According to Boston Consulting Group portfolio analysis,how should Nike treat its athletic shoe business?

Firms periodically conduct SWOT analyses.Why?

The text describes firms like Netflix and Southwest,who operate in competitive markets but successfully differentiate themselves from the competition.This gives them a sustainable competitive advantage.What is a sustainable competitive advantage? Describe an example of a product or business you have encountered that has developed sustainable competitive advantage.Why is that product or firm advantage sustainable?

It is not always necessary to go through all the steps in the marketing planning process.

Firms decide how to allocate resources to their various products and services during the STP step of the marketing planning process.

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: