Question 1

According to the GE business screen, when a firm has a weak position in a strong market, it should employ the divest strategy.

Accepted Answer

According to the GE business screen, when a firm has a weak position in a strong market, it should consider a "harvest" or "build" strategy to improve its position rather than immediately divesting.

Question 2

The primary weakness of all four planning models is that they oversimplify actual market conditions.

Accepted Answer

All four planning models (SWOT Analysis, PESTLE Analysis, Porter's Five Forces, and the Boston Consulting Group Matrix) are simplifications of complex market conditions, designed to help understand and strategize but potentially overlooking unique or nuanced factors.

Question 3

Johnson & Johnson's leadership in the medical equipment field illustrates product leadership in terms of the value disciplines.

Accepted Answer

Johnson & Johnson's leadership in the medical equipment field, through innovation and a focus on high-quality, cutting-edge products, exemplifies the value discipline of product leadership.

Question 4

______ is the process of planning, implementing, and evaluating the effort of a group of people working  toward a common goal.

Accepted Answer

The answer of ______ is the process of planning, implementing,...

Question 5

An organization's _____ states what customers it serves, what needs it satisfies, and what types of  products it offers.

Accepted Answer

The answer of An organization's _____ states what customers it...

Question 6

_____ represent broad plans of action by which an organization intends to achieve its goals and fulfill its  mission.

Accepted Answer

The answer of _____ represent broad plans of action by...

Question 7

A _____ is a means by which a strategy is implemented.

Accepted Answer

The answer of A _____ is a means by which...

Question 8

The Sandwich Depot is the only restaurant that stays open after midnight within a 25-mile area. Its late hours give the restaurant a _____ _____ over all the other restaurants in its vicinity.

Accepted Answer

The answer of The Sandwich Depot is the only restaurant...

Question 9

A _____ consists of people or organizations with needs to satisfy, money to spend, and the willingness to  spend it.

Accepted Answer

The answer of A _____ consists of people or organizations...

Question 10

A _____ _____ is a combination of a product, how it is distributed and promoted, and its price.

Accepted Answer

The answer of A _____ _____ is a combination of...

Question 11

In an attempt to gain additional sales from its current customers, Pizza Hut has added Buffalo wings to its menus. Pizza Hut is implementing a _____ _____ strategy.

Accepted Answer

The answer of In an attempt to gain additional sales...

Question 12

When Wal-Mart opened a new store in Hong-Kong using the same retailing strategies that made it so strong in the U.S., it was using a _____ _____ strategy.

Accepted Answer

The answer of When Wal-Mart opened a new store in...

Question 13

When Quaker Oats Company acquired Gatorade, Van Camp canned beans, Wolf chili, Ken-L-Ration dog food, and Celeste pizzas, it was using the product-market growth strategy called _____.

Accepted Answer

The answer of When Quaker Oats Company acquired Gatorade, Van...

Question 14

The _____ _____ is a planning model that allows an organization to classify each of its strategic business  units according to its market share relative to its competitors and the growth rate of the industry in which the SBU operates.

Accepted Answer

The answer of The _____ _____ is a planning model...

Question 15

The stationery products division of the Gillette Company is the world's largest marketer of writing instruments, and the market is growing rapidly. According to the BCG, Gillette's stationery products division would be classified as a _____.

Accepted Answer

The answer of The stationery products division of the Gillette...

Question 16

According to the GE business screen, Weyerhaeuser, the paper manufacturer, would have used a _____  strategy when it sold Paragon Trade Brands, a company that manufactures store-brand disposable baby diapers.

Accepted Answer

The answer of According to the GE business screen, Weyerhaeuser,...

Question 17

Amer Group is the world's leading manufacturer of tennis racquets, golf clubs, and Alpine skis with its Wilson brand tennis racquets and golf clubs as well as its Atomic brand ski. It also produces and sells cigarettes in Finland where it has a 75 percent share of the market. (It is licensed by Phillip Morris to produce the Phillip Morris brands in Finland.) In addition Amer Group owns Precor, a leading supplier of fitness equipment to gyms, health clubs, and private customers in the United States. A healthy cash flow from its tobacco unit allowed the conglomerate to specialize in sporting equipment. In 2002, it decided to get out of the tobacco business because it did not fit with the image of a sporting equipment supplier.
-In terms of a SWOT assessment, the recognition of a sociocultural trend toward a healthy lifestyle would be categorized as a(n):

Accepted Answer

The recognition of a sociocultural trend toward a healthy lifestyle is an opportunity for Amer Group to align its product offerings more closely with consumer values and interests, especially as it moves away from the tobacco business to focus on sporting equipment.

Question 18

Amer Group is the world's leading manufacturer of tennis racquets, golf clubs, and Alpine skis with its Wilson brand tennis racquets and golf clubs as well as its Atomic brand ski. It also produces and sells cigarettes in Finland where it has a 75 percent share of the market. (It is licensed by Phillip Morris to produce the Phillip Morris brands in Finland.) In addition Amer Group owns Precor, a leading supplier of fitness equipment to gyms, health clubs, and private customers in the United States. A healthy cash flow from its tobacco unit allowed the conglomerate to specialize in sporting equipment. In 2002, it decided to get out of the tobacco business because it did not fit with the image of a sporting equipment supplier.
-In terms of the SWOT assessment, the fact the company has 75 percent of the Finnish market for cigarettes could have potentially have tarnished Amer Group's image and should have been perceived as a potential:

Accepted Answer

The fact that Amer Group has a significant share of the Finnish market for cigarettes could potentially tarnish its image as a sporting equipment supplier, aligning it more with a threat to its brand image and public perception, especially considering the health-conscious market it serves with its sporting and fitness equipment.

Question 19

Amer Group is the world's leading manufacturer of tennis racquets, golf clubs, and Alpine skis with its Wilson brand tennis racquets and golf clubs as well as its Atomic brand ski. It also produces and sells cigarettes in Finland where it has a 75 percent share of the market. (It is licensed by Phillip Morris to produce the Phillip Morris brands in Finland.) In addition Amer Group owns Precor, a leading supplier of fitness equipment to gyms, health clubs, and private customers in the United States. A healthy cash flow from its tobacco unit allowed the conglomerate to specialize in sporting equipment. In 2002, it decided to get out of the tobacco business because it did not fit with the image of a sporting equipment supplier.
-Amer Group's decision to get out of the tobacco business because it did not fit with the image of a sporting equipment supplier would have been part of its _____ strategy.

Accepted Answer

Amer Group's decision to exit the tobacco business to maintain a consistent image as a sporting equipment supplier is an example of positioning strategy, where a company aligns its product image and identity with its target market's expectations and preferences.

Question 20

Amer Group is the world's leading manufacturer of tennis racquets, golf clubs, and Alpine skis with its Wilson brand tennis racquets and golf clubs as well as its Atomic brand ski. It also produces and sells cigarettes in Finland where it has a 75 percent share of the market. (It is licensed by Phillip Morris to produce the Phillip Morris brands in Finland.) In addition Amer Group owns Precor, a leading supplier of fitness equipment to gyms, health clubs, and private customers in the United States. A healthy cash flow from its tobacco unit allowed the conglomerate to specialize in sporting equipment. In 2002, it decided to get out of the tobacco business because it did not fit with the image of a sporting equipment supplier.
-Golfers, tennis players, and Alpine skiers are the _____ for Amer Group's Wilson brand and Atomic brand sporting equipment.

Accepted Answer

Golfers, tennis players, and Alpine skiers are the specific groups of consumers that Amer Group aims its Wilson brand and Atomic brand sporting equipment at, making them the target markets.

Quiz 20: Strategic Marketing Planning

According to the GE business screen, when a firm has a weak position in a strong market, it should employ the divest strategy.

The primary weakness of all four planning models is that they oversimplify actual market conditions.

Johnson & Johnson's leadership in the medical equipment field illustrates product leadership in terms of the value disciplines.

______ is the process of planning, implementing, and evaluating the effort of a group of people working toward a common goal.

An organization's _____ states what customers it serves, what needs it satisfies, and what types of products it offers.

_____ represent broad plans of action by which an organization intends to achieve its goals and fulfill its mission.

A _____ is a means by which a strategy is implemented.

The Sandwich Depot is the only restaurant that stays open after midnight within a 25-mile area. Its late hours give the restaurant a _ _ over all the other restaurants in its vicinity.

A _____ consists of people or organizations with needs to satisfy, money to spend, and the willingness to spend it.

A _ _ is a combination of a product, how it is distributed and promoted, and its price.

In an attempt to gain additional sales from its current customers, Pizza Hut has added Buffalo wings to its menus. Pizza Hut is implementing a _ _ strategy.

When Wal-Mart opened a new store in Hong-Kong using the same retailing strategies that made it so strong in the U.S., it was using a _ _ strategy.

When Quaker Oats Company acquired Gatorade, Van Camp canned beans, Wolf chili, Ken-L-Ration dog food, and Celeste pizzas, it was using the product-market growth strategy called _____.

The _ _ is a planning model that allows an organization to classify each of its strategic business units according to its market share relative to its competitors and the growth rate of the industry in which the SBU operates.

The stationery products division of the Gillette Company is the world's largest marketer of writing instruments, and the market is growing rapidly. According to the BCG, Gillette's stationery products division would be classified as a _____.

According to the GE business screen, Weyerhaeuser, the paper manufacturer, would have used a _____ strategy when it sold Paragon Trade Brands, a company that manufactures store-brand disposable baby diapers.