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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 61

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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.

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If Ryan pursues a market penetration str...

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Question 62

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

A) Targeting
B) Market segmentation
C) A situational analysis
D) Positioning
E) A SWOT analysis

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Question 63

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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?

Jamie, a sales manager for an industrial materials company, reviews each sales representative's performance quarterly. She knows business has been good, but is surprised to see some reps are selling much more than their goals while others are not meeting their goals. What should Jamie do?

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

Customer retention programs are based on what concept?

Heather has been assessing several of her firm's products using the Boston Consulting Group (BCG) approach to portfolio analysis. She has been trying to assess the strength in a particular market and is looking at the sales of each of her products and the sales of the largest firm in the industry. Heather is trying to determine

Quitman Enterprises sells its business language dictionary to college students throughout the United States. Joseph Quitman, the owner, wants to start selling the book to international students abroad. Quitman wants to pursue a ________ growth strategy.

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink. This positioning reflects Pepsi's careful implementation of

Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero (now known as Coca-Cola Zero Sugar) . It has chosen to attempt to appeal to men with Coke Zero. In addition to launching an ad campaign featuring men enjoying Coke Zero, Coca-Cola also designed a masculine-looking can for Coke Zero, with bold red lettering on a black background. This specially designed can is an example of

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

Abercrombie & Fitch, a clothing retailer, includes a "SHARE" link on the product pages of its website. This link encourages an Abercrombie customer to post a link (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.

The growth rate for the iMac desktop, which has a small relative market share in the desktop market, has slowed down in recent years. Although sales have dropped by approximately 3 percent, it remains popular among graphic designers. Given these conditions, in which quadrant of the BCG matrix would the iMac most likely fall?

When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?

The first objective in the evaluate performance phase of the marketing planning process is to

Establishing a sustainable competitive advantage is the key to long-term financial performance.

A ________ growth strategy employs the existing marketing offering to reach new market segments.

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

Sodexo is a food services corporation that caters to school cafeterias, university dining halls, mess halls at military bases, and other large-scale food service facilities. If Sodexo were to begin selling individual frozen meals in supermarkets, it would be pursuing a ________ growth strategy.

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