M2 Homework Flashcards
Nike sells more golf gloves to US customers by expanding its golf club offerings. What market/ product would this item fall into? What is the strategy called?
Current market
Current product
Market Penetration
Taking advantage of low production costs, Nike Golf creates a brand-new energy drink for Russian golfers. What market/ product would this item fall into? What is the strategy called?
New market
New product
Diversification
Nike cuts the price on its Crunch Extreme golf balls to increase sales by 20%. What market/ product would this item fall into? What is the strategy called?
Current market
Current product
market penetration
To capitalize on the expenditures middle class, Nike Golf begins selling its golf clubs in India for the first time. What market/ product would this item fall into? What is the strategy called?
New market
Current Product
Market Development
Nike Golf develops a new line of men’s and women’s golf-themed sleepwear for the U.S. market. What market/ product would this item fall into? What is the strategy called?
Current Market
New product
Product Development
The growth of the Brazilian golf market inspires Nike Golf to start selling its current line of golf accessories including tees and towels in Brazil. What market/ product would this item fall into? What is the strategy called?
New market
Current product
Market development
Nike Golf creates a new line of energy bars formulated especially for golfers which will be sold in golf pro shops across the US. What market/ product would this item fall into? What is the strategy called?
Current Market
New Product
Product Development
Recognizing the huge number of Chinese travelers, Nike Golf develops a full line of Nike Golf luggage for the Chinese market. What market/ product would this item fall into? What is the strategy called?
New market
New product
Diversification
After every new product launch, Kimberly Clark, maker of personal care products compares its projected sales to the company’s actual sales to see of the firm has missed the mark. The company learns from its mistakes to better forecast the sales of future products. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Evaluation Phase
Apple works with retailers such as Best Buy and Target to secure shelf space for its newest products while executing its marketing tactics. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Implementation
When Gillette introduced the five blade Fusion razor, it estimated what its first five years of sales revenue would be. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Planning Phase: Marketing Program
Uber created a simple value proposition for its riders which reads “ Tap your phone. Get where you’re headed.” This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Market-product focus and goal setting
Fisher Price has a play lab where it can bring in children to let them play with Fisher Price toys to gain an understanding as to how kids currently use its products. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Situation Analysis (SWOT)
Specialized Bicycles is using a Gantt chart to develop the schedule for the launch of its new product lines for the spring biking seasons. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Market-product focus and goal setting
When developing the marketing mix for the BMW 2- series, BMW marketing managers chose a competitive base price of $36,000. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Marketing Program
Konica Minolta is always collecting data on how often its photo copies break down and which parts break. The company uses this information to improve parts that break down the most, to minimize service calls. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Evaluation Phase
When developing its Oral B Glide Pro-Health for sensitive gums floss, Oral B has the target market of consumers with sensitive gums in mind.This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Market-product focus and goal setting
Procter & Gamble is one of many Fortune 500 firms using euro-marketing to research customers by subjecting them to an MRI brain scanning device while they are asked questions. This is apart of which step of the strategic marketing process?
- Situation analysis (SWOT)
- Market-product focus and goal setting
- Marketing program
- Implementation phase
- Evaluation phase
Situation Analysis
go back to question 4
The Stylish Dog has sold twice as many dog beds as it closest competitor in the rapidly expanding pet bed market? What is the market growth rate and relative market share? What is the strategy of this portfolio analysis?
High market growth
High relative market share
Star
The ski industry has slowed down based on the growing popularity of snowboarding, however K2 maintains its position as market share leader. What is the market growth rate and relative market share? What is the strategy of this portfolio analysis?
Low market growth rate
High market share
Cash Cows
After BluRays and DVRs hit the market, VCR market growth slowed dramatically. A marginal electronics manufacturer, Sonic continues to manufacture VCRs for customers with an inventory of VCR tapes. What is the market growth rate and relative market share? What is the strategy of this portfolio analysis?
Low market growth
Low market share
Dogs
The market for recreational drones is growing exponentially each year. Flight Inc. has one third of the market share as compared to its latest competitor. What is the market growth rate and relative market share? What is the strategy of this portfolio analysis?
High market growth
Low market share
Question Marks
When examining the strengths of the Coffee Collective within a SWOT analysis, you would need to evaluate the _____ and _____ factors of the organization.
A) internal; favorable
B) external; unfavorable
C) internal; unfavorable
D) external; favorable
A) internal; favorable
In order for Martha to categorize prospective buyers into groups that have common needs and will respond similarly to a marketing action, she will need to effectively complete a
A) Marketing program
B) four P’s segmentation
C) Market segmentation
D) strategic planning analysis
C) Market segmentation
Which of the following is not one of the three phases of the strategic marketing process?
A) evaluation phase
B) implementation phase
C) determination phase
D) planning phase
C) determination phase
The Coffee Collective will need to detail the day-to-day operational decisions that are required to execute the marketing planning phase. These actions are referred to as
A) Points of Difference
B) marketing tactics
C) SWOT analysis
D) marketing metrics
E) Situation analysis
B) marketing tactics
When Martha needs to compare the results of the marketing program for the Coffee Collective and then implement changes based upon what she finds, she is in the _____ phase of the strategic marketing process.
A) planning
B) responsibilities
C) implementation
D) evaluation
E) program
D) evaluation
IBM is defined and guided by (1) a dedication to every client’s success, (2) innovation that matters for our company and for the world, and (3) trust and personal responsibility in all our relationships. These standards represent IBM’s
A) SWOT analysis
B) portfolio analysis
C) product offerings
D) core values
E) strategic business unites
D) core values
Assume that IBM has a relatively low unit market share for blockchain technology and that the blockchain technology industry’s growth rate is extremely high (averaging 30% per year). Using the BCG business portfolio analysis framework, blockchain technology would be classified as a ________ SBU for IBM.
A) question mark
B) star
C) dog
D) cash cow
A) question mark
Blockchain technology is an emerging technology with potential applications in logistics, distributed ledgers, social media, financial services, and digital identification. The market for blockchain technology is estimated to reach 2.3 billion dollars by 2021, 10-times larger than the market was in 2016. In its SWOT analysis, IBM should classify the growth of blockchain market as a(n)
weakness
strength
opportunity
threat
opportunity
IBM’s marketing plan includes a variety of marketing tools including television, radio, and newspaper advertising in addition to digital and social media. Each of these marketing tools is a part of the ________ element of IBM’s marketing mix.
place
product
price
promotion
promotion
IBM Watson for AI, IBM Cloud, IBM Security, IBM Services, and IBM Research each represent a(n) ________ since each brand functions as its own division at IBM and markets its own set of related offerings to a clearly defined target market.
A) functional level
B) strategic business unit
C) strategy
D) corporate level
E) Opportunity
B) strategic business unit
