Question 1

If the owners of Jalapeno's Restaurant,a Mexican eatery in St.Louis,open a second restaurant across town,have they created an SBU? Explain your answer.

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Question 2

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.While new home construction is not growing as rapidly as it once did,the number of homeowners who are remodeling bathrooms and kitchens is growing.According to the portfolio model,Masco would consider Delta a(n):

Accepted Answer

A cash cow is an SBU that usually generates more cash than it needs to maintain its market share.

Question 3

What is environmental scanning? Name four environmental forces that affect marketing decision-making.

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Question 4

Stump's Hot Olives are manufactured by a family business in Wisconsin and are sold in Midwestern grocery stores,through mail order,and to a few local restaurants.The company has been in operation since 1998 and relies on labor from family and friends to produce and package olives in attractive,reusable glass containers.They use store demonstrations to introduce their spicy olives to new customers.Discuss how this company can establish or maintain at least one of the three types of competitive advantage.

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Question 5

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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Question 6

List the four basic strategies used once an organization has identified its strategic business units in terms of the portfolio model.Describe when each is used.

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Question 7

The marketing mix refers to a unique blend of marketing variables known as the four Ps.Name and briefly describe each of the 4 Ps.

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Question 8

What is marketing myopia? If a movie theater company had a myopic orientation,how might it state its business purpose? If the movie theater company avoided a myopic orientation,how would its business purpose change?

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Question 9

Identify four common reasons for failing to achieve a marketing objective.

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Question 10

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.Delta's development of a new slogan represents a change in the _____ element of its marketing mix.

Accepted Answer

Promotion includes advertising,public relations,sales promotion,and personal selling.

Question 11

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.Delta Faucet would most likely have gathered the information about how homeowners perceive its products through the use of a(n):

Accepted Answer

A situation analysis,sometimes referred to as a SWOT analysis,identifies a firm's internal strengths (S)and weaknesses (W)and external opportunities (O)and threats (T).

Question 12

Name and describe the four strategic alternatives in Ansoff's strategic opportunity matrix,which matches products with markets.For each of the four strategic alternatives,give a specific example of a firm following that strategy.

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Question 13

Identify the dimensions used for selecting strategic alternatives in the General Electric model.What are some attributes of an attractive market in this model?

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Question 14

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.Delta's decision to make more stylish faucets represents a change in the _____ element of its marketing mix.

Accepted Answer

The product includes not only the physical unit but also its package,warranty,after-sale service,brand name,company image,value,and many other factors.

Question 15

An essential part of marketing strategy is target market strategy.Selection of target market(s)drives marketing objectives and selection of the marketing mix (the four Ps).What are the three general strategies for selecting target markets?

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Question 16

What is a SWOT analysis? How does it relate to strategic planning?

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Question 17

What is the difference between planning,strategic planning,and marketing planning?

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Question 18

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.Since Delta was already marketing to homeowners (although not very successfully),its development of new styles of faucets to appeal to this underserved market would be an example of a _____ strategy.

Accepted Answer

A product development strategy entails the creation of new products for current customers.

Question 19

What is a competitive advantage? What makes a competitive advantage sustainable?

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Question 20

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 reputation the Delta faucet has for its quality,durability,and dependability among builders is an example of a(n):

Accepted Answer

A competitive advantage is the set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition.

Quiz 2: Strategic Planning for Competitive Advantage