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Exam 2: Strategic Planning for Competitive Advantage

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Question 51

Multiple Choice

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John R.Harland Company is best known for printing checks.Its Financial Solutions division develops software for mortgage companies and is currently producing much less than the desired level of profitability in a high-growth industry.According to the portfolio matrix,Harland would label its Financial Solutions division as a(n) :

A) widow
B) exclamation point
C) problem child
D) star
E) dog

F) All of the above
G) A) and B)

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Question 52

Multiple Choice

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A written document that acts as a guidebook of marketing activities for the marketing manager is known as the _____.

A) strategy document
B) marketing plan
C) vision statement
D) mission statement
E) strategic plan

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

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Question 53

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When a florist shop begins to sell burial caskets to its customers,it is engaged in product development.

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

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

NARRBEGIN: Novartis Novartis Novartis,a Swiss drug maker,is planning to purchase a majority stake in Zhejiang Tianyuan Bio-Pharmaceutical Company,a Chinese vaccine maker.Novartis has agreed to pay $125 million for the company that holds a 3% share of China's $1 billion vaccines market.The market for vaccines is growing 20% or more in developing nations of Asia,Africa,and Australasia.In the past,vaccine use has been limited to basic shots against diseases such as polio,tuberculosis,and measles,but as the economies of these countries grow,government and private healthcare spending focuses on preventing diseases such as hepatitis B,cholera and rotavirus,tetanus,and others.Some critics are against the acquisition,claiming that prices will increase.Novartis claims it is not interested in raising prices but rather to expand Tianyuan's product offerings. -Refer to Novartis.By acquiring Tianyuan,Novartis will be offering vaccines,which is a product that it currently offers in its existing markets,to new markets for the company.This is an example of which strategic alternative?

Which of the following category in the Boston Consulting Group's portfolio matrix is a market leader and growing fast?

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.

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

All of the following are sources of a cost competitive advantage EXCEPT:

Typically,the development of the marketing mix starts with determining the promotion for a product.

Coca-Cola drink vending machines are found all over the world.The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink.Critics of these new vending machines are concerned that entertaining technology is being used to market sugary products.In terms of a SWOT analysis,this concern would be an example of a(n) :

A popular technique for managing a large organization with different technologies and markets is to divide it into:

Technol Medical Products makes specialty face masks to shield health-care workers from infection.Because it focuses on this narrow market,it is able to outsell its primary competitors--3M and Johnson & Johnson.Technol Medical Products has a(n) :

NARRBEGIN: Novartis Novartis Novartis,a Swiss drug maker,is planning to purchase a majority stake in Zhejiang Tianyuan Bio-Pharmaceutical Company,a Chinese vaccine maker.Novartis has agreed to pay $125 million for the company that holds a 3% share of China's $1 billion vaccines market.The market for vaccines is growing 20% or more in developing nations of Asia,Africa,and Australasia.In the past,vaccine use has been limited to basic shots against diseases such as polio,tuberculosis,and measles,but as the economies of these countries grow,government and private healthcare spending focuses on preventing diseases such as hepatitis B,cholera and rotavirus,tetanus,and others.Some critics are against the acquisition,claiming that prices will increase.Novartis claims it is not interested in raising prices but rather to expand Tianyuan's product offerings. -Refer to Novartis.Novartis assessed the opportunity presented by the growing potential markets in developing countries and determined it was consistent with its internal quality production processes and extensive R&D capabilities.This assessment process in which Novartis learned this about the environment is called a(n) :

Lands End guarantees their products for as long as you own them.They would seem most concerned with which element of the marketing mix?

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 is known as a(n) :

To be useful,marketing objectives should meet four criteria: realistic,measurable,time-specific,and based on sales.

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

Until spun off in 2007,Kraft was part of Altria Group,Inc.Kraft had its own management team,mission statement,and target markets different from Altria Group,Inc.Kraft was a _____ of Altria Group,Inc.