Contemporary Marketing Study Set 5

Business

Quiz 2 :

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Quiz 2 :

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

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Business portfolio analysis. Occasionally, companies sell parts of themselves to other firms. One stated motive for such divestitures is that the sold assets are a poor strategic fit for the rest of the company's business portfolios. An example is the sale of a controlling interest in NBC Universal by GE to cable giant Comcast. Using a major search engine, research the sale of NBC Universal. In the context of business portfolio analysis, why did GE decide to sell, and why did Comcast decide to buy NBC Universal?
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Portfolio analysis helps a company to decide its most suitable business mix of products and services. This analysis helps a company to invest its resources to the most profitable segments. It also helps to determine the nonpaying business units that require closing or selling.
Company GE sold the controlling interest in its business unit NBCU to Company C, because it was getting higher cost per shares than is expectations.
Whereas, Company C has bought majority shares of NBCU, so that they can deliver top quality entertainment shows to the customers. It would help the company to achieve higher rate of returns and profitability.

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Choose one of the following products and describe how it may (or already has) become vulnerable to substitution. Then describe an overall strategy-with two or three tactics-for reducing this vulnerability. a. printed copies of periodicals or books b. television c. telephone landlines d. travel agencies
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Substitute product:
A different product that partly or completely satisfies the same needs of the consumers is termed as substitute products. These products replace one another.
Product substitution :
The process in which a product or service becomes a substitute for another product or service due to decline in the value of the service it offers is known as product substitution
The product vulnerable to substitution :
Televisions have become vulnerable to substitution due to other gadgets like mobile phones, tablets, laptops and personal computers. These products provide a variety of services to the customers and also telecast television programs.
This situation can be avoided by television companies by providing more utility in the product and adding more attributes like the following:
• Ability to connect pen drives, memory cards and other mass storage devices
• Supporting software for all audio and video formats
• In built media player
• Options to surf and view online content
Such inclusion will help the television manufacturer to survive the tough competition by other competing products.

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Mission and objectives. Visit the website of the Sara Lee Corporation, whose slogan is "the joy of eating." Define the firm's mission and objectives, and discuss how its brands and activities support both. www.saralee.com
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Mission statement is a strategic plan that describes the overall purpose for existence of a business firm. It helps to establish the core values and principles of an organization.
Objectives define the short as well as long term goals of a business firm.
Company SLC operates in food service industry.
Mission statement of Company SLC is given below :
"Company SLC's mission is to construct leadership brands in consumer-packaged goods and provide quality services to its customers."
Objectives of Company SLC are given below:
Company SLC's main objective is to construct long-term shareholders value across the globe.
Functions of company SLC that supports its mission statement and objectives are given below :
• The firm maintains the benchmark quality in its packaged goods.
• Use of high quality ingredients for different recipes developed by the company.
• The company focuses on quality control systems and periodical testing to ensure that the product meets its quality standards.
• It avoids the use of artificial colors, flavors and preservatives as per consumer expectations.
• Company SLC supports the community by supporting the establishment of the Science Faculty at the University of Newcastle.
• Employees of the company participate in various charity initiatives.
Hence, it can be concluded that business activities of Company SLC is integrated with its mission and objectives.

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The news media reports a shocking fact from the Centers for Disease Control and Prevention (CDC): Bread is the number-one source of sodium in the average American diet. In fact, most people get twice as much sodium from bread and rolls as they do from a bag of salty snacks such as chips or pretzels.29 Imagine that you are a marketer for a baking company whose main product lines are bread and rolls. For years, your company has focused on "heart-healthy" as a key claim. You have been assigned to create a new strategy and tactics for your firm's Facebook page. Would you continue to emphasize the heart-healthy message? Would you refer to the CDC study or ignore it?
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What is the difference between a firm's mission and its objectives? Why is it important that both are conveyed clearly to employees and to customers?
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Three to five million people pass through the turnstiles of Nederlander Producing Company theaters each year in New York City. "Why can't they get something for that?" asks James L. Nederlander, president of the company. Nederlander, whose family founded and has run the Nederlander Producing Company for more than 100 years, touches on a central question for every business: How can we serve and reward our customers? Serving customers, building a relationship with them, and achieving a competitive advantage while doing so requires strategic and tactical planning. Nederlander Producing Company is a thirdgeneration, family-owned company that owns and manages theaters as well as produces and promotes live shows across the United States and the United Kingdom. Nederlander presents diverse acts such as the Bolshoi Ballet, The Lion King, and Celine Dion. Strategic planning, which includes identifying Nederlander's primary objectives and figuring out how to attain them, is vital to the company's longevity. One of Nederlander's main objectives is to draw more people toward the performing arts-and keep them there. Recently, the executive team at Nederlander came up with a new way to do exactly that: Audience Rewards. "When I buy Corn Flakes or a stick of gum, I get points," Nederlander observes. "So why can't our customers get points for buying a theater ticket?" The program functions much like a frequent-flyer plan for theatergoers. Consumers sign up online for free, get a membership number, and start earning points toward rewards, such as free theater tickets, seat upgrades, Broadway merchandise, and even a photo shoot at one of the red-carpet events. The idea is to motivate people to attend the theater more often and try different experiences. It's a tried-and-true tactic with several twists, implemented with digital marketing and the human resources to back it up. You don't have to see a show to rack up points. You can enter online contests such as "Predictions for Points," in which you predict the 26 Tony Award winners. You automatically get five points for any prediction, but you could win up to 100,000 points if you get them all right. You can answer Audience Rewards trivia questions throughout the year for points as well. And you can score points through Audience Reward partner companies, such as Starwood Hotels, Delta Airlines, United Airlines, Amtrak, Best Buy, and Points.com. Josh Lesnick, president and CEO of Audience Rewards, notes that large corporations have been eager to become partners in Audience Rewards because "we really bring forward a lifestyle product." For example, a couple who visits New York from Cincinnati may fly on Delta, stay at the Sheraton in Midtown, and buy tickets to see Wicked. Then there's the fact that the average annual household income for the Audience Rewards target market hovers around $200,000-and companies such as Starwood and the major airlines want access to those consumers. Audience Rewards doesn't just benefit theater enthusiasts-it also helps the show go on. Recently, Nederlander ran an Audience Rewards program for the Broadway show Evita, in which marketers sent out 5 million emails over 10 days, offering discounts on advance-purchase tickets as well as other perks. The push generated $1 million in presales, allowing the theater producers to strategically reallocate some resources. On a broader scale, the program gives Nederlander and its partners a central platform across which to market different venues and performing arts genres and opens the door to audience development-which circles back to that initial objective of attracting more theatergoers and keeping them in their seats. As a first-mover strategy, Audience Rewards has already sealed the premier spot in the entertainment rewards arena. Nederlander has a century of connections to theater owners, producers, and presenters (not to mention its own string of theaters and productions) that would be tough for any competitor to break. "It would be hard for someone else to do an arts rewards program," explains Lesnick, "because you have to have the backing of theater companies, and they already back ours." Questions for Critical Thinking 1. How does the Audience Rewards program support Nederlander's overall strategic plan? 2. It might seem as though Nederlander's first-mover strategy has the entertainment rewards market locked up. But what strategies and tactics could a second-strategy mover use to gain access to theater customers?
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Using a first mover strategy, Apple's iPad and iPhone have clearly established the lead in their markets. Research the products of another firm that produces either a tablet or a smartphone to learn about its strategy. How has a second mover strategy benefited the firm? Has the second mover firm been able to catch Apple in sales?
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SWOT analysis. Visit the website of an organization whose goods and services interest you-such as Columbia Sportswear, Major League Baseball, Travelocity, Apple, or Urban Outfitters. Based on your research, create a SWOT analysis for your firm. Outline your own ideas for increasing the firm's strengths and reducing its weaknesses.
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State whether each of the following illustrates strategic or tactical planning: a. Global automakers begin setting up manufacturing plants in India. b. The merging of Play N Trade Video Games and Dimensions Games Corporation. c. The Washington Redskins trade multiple draft picks to draft Baylor QB Robert Griffin III. d. A regional airline looks for ways to expand to other areas of the country.
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Netflix has made thousands of streaming videos available to its subscribers. How does this strategy demonstrate a strategic window for the company?
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Choose one of the following companies, or select another one whose goods and services are familiar to you. On your own or with a classmate, formulate a mission statement for that company. Then create a list of objectives that reflect your company's mission. a. Marathon Oil b. Scottrade c. Raytheon d. Verizon
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When rivals Samsung and Sony each unveiled their new 3D TVs at a major electronics store, some consumers couldn't tell the difference between the two. But the firm's strategies were very different. Sony opted to use outside manufacturing firms to build its TVs, stating that the move would help cut costs and keep the company strong. But Samsung manufactures its own TVs, including its own computer chips. Since then, the two firms have experienced quite different outcomes. 28 With a classmate, research the two companies and their 3D TVs, evaluating their marketing strategy. Who is the target market for both of these TVs? How does product, distribution, promotion, and pricing fit into each firm's overall marketing strategy? In your opinion, how did the firms' strategies affect their respective outcomes?
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Poised to become the largest consumer group in U.S. history, the millennials (born between 1977 and 1994) wield consumer spending power of billions of dollars a year. They differ from baby boomers (born 1946-1964) in many ways, including their preferences when staying at a hotel. Millennials feel "interesting is more important than comfort." They also lack brand loyalty for hotels, making competition for their business fierce. Hotel chains are therefore hurrying to upgrade their facilities to attract these younger guests in sneakers and baseball caps, who aren't completely at home in quiet lobbies that reek of Olde England. Chains such as Hilton, Starwood, Marriott, and InterContinental have installed sleek and comfortable new lounges with stylish bars, plush furniture, areas for socializing, out-in-the-open power consoles for recharging electronics, and electronic concierge services. They've added state-of-the-art gyms, happy hours, free wine and tea tastings, yoga classes, designer shower heads, check-in kiosks to replace registration desks, and of course Wi-Fi access and high-speed Internet, which one observer described as "almost like air to millennials." And, appealing to millennials' green leanings, they're going eco-friendly. The hotels of Starwood's Element brand are pursuing LEED certification, and Hilton's Home2 Suites eliminated the little bottles of shampoo in favor of less wasteful pumps in the shower. While baby boomers enjoy the solitude of their rooms after a long day of business or sightseeing, millennials like to visit several restaurants and bars during their travels, so some hotels are introducing multiple eateries and lounges, all designed with different themes to create variety and keep guests from spending their entertainment budgets elsewhere. In New York, TRYP by Wyndham Times Square South partnered with Lobby Friend, a social media app that encourages guests to socialize with each other during their stay. Starwood Hotels and Resorts Worldwide set up a 20-member team to monitor and respond to guests' complaints and suggestions-but not at a desk in the lobby. This team works solely online, constantly monitoring Instagram and Twitter posts by their outspoken guests. And, of course, hotels are increasing their own online presence, including on Facebook, Twitter, Google+, and YouTube, since the vast majority of travel arrangements are now made online. It's all part of the hotel industry's effort to woo a group whose travel spending has risen rapidly. The business has come a long way from placing chocolates on guests' pillows at night. Questions for Critical Thinking 1. Hotel chains see millennials as critical to their financial growth. What are some reasons why? 2. How should the hotel industry use social media to connect with younger travelers?
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Over which of Porter's Five Forces do consumers have the greatest influence? Over which do they have the least? How might these factors affect a firm's overall marketing strategy?
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Research the website of one of the following retail firms to identify its target market. Then outline a strategy for expanding that target market. a. Quiznos b. Target c. Trader Joe's d. Nordstrom e. Dollar Tree
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Suppose you are a marketer for a U.S. manufacturer of pet supplies. Two top executives have proposed expanding the company by opening retail stores and marketing pets on- site-puppies, kittens, rabbits, birds, fish, and the like. What are the potential benefits and drawbacks of making a move like this? How would you advise your company to proceed?
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Why is it so important for a firm to identify its core competencies?
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The news media reports a shocking fact from the Centers for Disease Control and Prevention (CDC): Bread is the number-one source of sodium in the average American diet. In fact, most people get twice as much sodium from bread and rolls as they do from a bag of salty snacks such as chips or pretzels.29 Imagine that you are a marketer for a baking company whose main product lines are bread and rolls. For years, your company has focused on "heart-healthy" as a key claim. As you review the Facebook site, you note that packaging for your company's bread uses the words "heart-healthy." Would you bring this to the attention of the marketing group responsible for product packaging? Or would you look for a way to obscure the package design online? Defend your answer.
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Select one of the following industries and research which firms might fall into the top three in the industry, creating a rule of three: a. online securities trading b. upscale hotels c. electronics retailing d. auto manufacturing
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Imagine you had a chance to interview Google co-founders Larry Page and Sergey Brin. What questions might you ask each about strategic planning for individual divisions and for the firm overall?
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