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Exam 2: Developing Marketing Strategies and a Marketing Plan

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Question 71

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In mid-2010, Hewlett-Packard Company (HP) acquired Palm Computing Inc., a manufacturer of personal devices and smartphones. Before deciding to acquire the company, strategic planners at HP spent time thinking about how Palm and HP would "fit" together, and how the acquisition might change HP's core goals and objectives. The strategic planners were engaged in the ________ step of the marketing planning process.

A) perform situation analysis
B) implement marketing mix and allocate resources
C) identify and evaluate opportunities
D) evaluate performance
E) define the business mission

F) A) and E)
G) B) and E)

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Question 72

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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.

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Question 73

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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?

Even when large discount retailers enter a market, a few small, local retailers survive and prosper. These small retailers have probably developed a(n) ________ that allows them to survive.

SanDisk's MP3 player product line (called the Sansa) has a low relative market share. The MP3 player market is expected to decline over the next few years. In Boston Consulting Group (BCG) portfolio analysis, the Sansa would be considered a dog.

Which of the following is one of the four major growth strategies that marketers typically utilize?

The strategic planning process always proceeds sequentially.

Samantha is charged with assessing her company's external environment as part of a SWOT analysis. Samantha will study her company's

Suppose that you and a friend decide to turn your favorite sports activity-inline skating-into a business. You plan to design a line of fashionable clothing that integrates elbow and kneepads. For each of the four macro strategies, briefly describe the most important thing your company should do if you intend to focus on that strategy. Your answers should be specific to the inline skating business.

After success with its Netflix series Jessica Jones and Daredevil, Marvel launched two additional series, Iron Fist and Luke Cage. By doing this, Marvel employed a ________ strategy.

Marketers want their firms to develop excellent supply chain management and strong supplier relations so they can

Fourteenth National Bank prides itself on offering better service than any of its competitors. If this is accurate, and if customers recognize and value Fourteenth National's superior service, the bank creates and delivers value through

Some banks offer special accounts designed to attract junior high school students. These kids save in such small amounts that the accounts cost banks more to maintain than they are worth; however, bankers know that consumers are creatures of habit and hope that the young people they serve now will become adult customers. These banks recognize

Amazon makes sure its customers can download their Kindle e-books easily from its website when and where they want them. In so doing, it is focusing on creating value through

In 2007, Apple first introduced to its customers the iPhone, which combined a cellular telephone, a camera, and Internet access. By doing this, the company had pursued a(n) ________ growth strategy.

A competitive advantage based on location is often sustainable because

In July 2010, Microsoft discontinued the Kin, its social networking phone, after just six weeks of disappointing sales. During what step of the strategic marketing planning process would Microsoft have made the decision to stop offering the product?

Southwest Airlines is known for being the low-cost provider in the U.S. airline industry. What type of macro strategy has Southwest pursued?

Using the BCG portfolio analysis, a "dog" should be phased out unless

Your marketing professor, Dr. Murphy, has been asked to participate in the university's strategic marketing planning process. After completing the planning phase of the process, Dr. Murphy has been asked to assist with the STP analysis. What questions will Dr. Murphy ask during the STP analysis? Be specific to the university's strategic marketing planning process.