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Marketing
Q:
The SWOT acronym refers to a firm's analysis of its:
a. sales, width of product mix, observations, and technology
b. situations, wealth, organizational strengths, and target markets
c. strengths, weaknesses, opportunities, and threats
d. service levels, willingness to spend, organizational culture, and total revenues
e. strategies, willingness to change, objectives, and trends
Q:
A _____ is a study conducted by an organization to identify its internal strengths and weaknesses and also examine external opportunities and threats.
a. situation analysis
b. marketing audit
c. trend analysis
d. strategic alternative selection
e. competitive advantage audit
Q:
Chrysler has a financial unit that is responsible for vehicle leases to consumers. It has a distinct mission, control over its resources, and plans independent of the other divisions of Chrysler. This financial unit is an example of a(n):
a. organizational level
b. SWOT
c. secure business unit
d. business sales unit
e. strategic business unit
Q:
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.
a. product market niche
b. diversified division
c. heterogeneous element
d. strategic alliance
e. strategic business unit
Q:
Yildiz Holding of Turkey purchased Godiva Chocolates from Campbell's Soup Company. Campbell's sold one of its:
a. strategic business units (SBUs)
b. strategic alliances
c. action programs
d. transactional units
e. synergistic divisions
Q:
An SBU:
a. competes with the same companies as the other SBUs in the parent organization
b. shares the same mission with all the other SBUs in the parent organization
c. controls its business independent of other SBUs in the organization
d. usually benefits from the combined corporate raw materials purchases
e. still has strategic planning performed back at corporate headquarters
Q:
The acronym SBU refers to:
a. stock in business units
b. strategic business unit
c. standard business utilization
d. strategic barter units
e. samples by units
Q:
A popular technique for managing a large organization with different technologies and markets is to divide it into:
a. strategic business units
b. different technologies
c. strategic target markets
d. design matrices
e. tactical segments
Q:
Subgroups of a single business or a collection of related businesses within a larger organization are referred to as:
a. strategic marketing organizations
b. strategic subgroups
c. market segments
d. business segments
e. strategic business units
Q:
By defining its business as "printing books" instead of "empowering imaginations," a children's book publishing company would more than likely experience:
a. market synergy
b. product entropy
c. market harvesting
d. nonspecific strategic planning
e. marketing myopia
Q:
_____ occurs when a business is defined in terms of goods and services rather than by the benefits customers seek from it.a. Synergyb. Tunnel visionc. Narrowcastingd. Unempowermente. Marketing myopia
Q:
The focus of an organization's mission statement should be on:
a. the products it wishes to sell
b. the market it wishes to serve
c. its social responsibilities
d. the desires of government regulators
e. technologies it understands well
Q:
PepsiCo's annual report has the following statement: "Our business is to increase the value of our shareholder's investment. We do this through sales growth, cost controls and wise investment of resources. We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of integrity." This statement is an example of PepsiCo's:
a. marketing mix strategy
b. quantifiable goal
c. mission statement
d. statement of economic potential
e. market segmentation strategy
Q:
The _____ answers the question, "What business are we in, and where are we going?"
a. mission statement
b. financial statement
c. situation analysis
d. market strategy
e. strategic plan
Q:
A statement of the firm's business based on a careful analysis of benefits sought by present and potential customers and an analysis of existing and anticipated environmental conditions is known as a(n):
a. business audit
b. marketing plan
c. mission statement
d. environmental focus
e. portfolio matrix
Q:
All of the following are elements of the marketing plan EXCEPT:
a. business mission statement
b. situation analysis
c. target market strategy
d. marketing mix
e. portfolio analysis
Q:
Marketing plans should be written to do all of the following EXCEPT:
a. compare actual and expected performance
b. provide clearly stated activities
c. create common goals for employees to work toward
d. allow managers to enter the marketplace with an awareness of possibilities and problems
e. control the elements of the external marketing environment
Q:
Earl is starting a new bank. Before their opening day Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank's _____.
a. reengineering
b. hierarchical restructuring
c. financial analysis
d. marketing plan
e. strategic contingency planning
Q:
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
Q:
_____ is the process of anticipating events and determining strategies to achieve organizational objectives.a. Planningb. Portfolio evaluationc. Forecastingd. Implementatione. Evaluation
Q:
Heinz has announced that they plan to grow the company through an accelerated push into emerging markets such as China, Indonesia, and India in the next ten years. This is an example of:
a. tactical objectifying
b. contingency plan
c. strategic planning
d. marketing implementation
e. horizon planning
Q:
Since gas prices have soared and consumers have cut back on their spending on new trucks and SUVs Ford Motor Corporation is transforming several of its plants to create small cars. Ford has engaged in:
a. benchmarking
b. tactical resource realignment
c. alternative selection
d. portfolio evaluation
e. strategic planning
Q:
With hospitals nationwide facing budget cuts and slimmer profit margins, Dekalb County's Medical Center decided to cash in on one of the most consistently profitable services--delivering babies. It initiated a three-year project to build a $55 million state-of-the-art women's center with 18 labor and delivery suites. When the hospital decided to commit its resources to obstetrics, it was engaging in:
a. benchmarking
b. alternative problem solving
c. strategic planning
d. portfolio evaluation
e. tactical control
Q:
Strategic plans require:
a. long-term resource commitments
b. a change in organizational structure
c. the addition of new personnel
d. new product development
e. changes in prices
Q:
_____ is the managerial process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities.a. Tactical managementb. The market auditc. Functional planningd. Environmental scanninge. Strategic planning
Q:
The most critical element for successful strategic planning is top management's support and participation.
Q:
Strategic planning is most effective when managers view it as an annual exercise.
Q:
A marketing audit helps management allocate marketing resources efficiently.
Q:
Typically, the development of the marketing mix starts with determining the promotion for a product.
Q:
The four Ps of the marketing mix are product, planning, promotion, and price.
Q:
The development of a target market strategy begins with a marketing audit.
Q:
Marketing strategy involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.
Q:
A portfolio matrix is a tool for allocating resources among products or strategic business units on the basis of relative market share and degree of innovation.
Q:
A diversification strategy entails increasing sales by introducing new products into new markets.
Q:
When a florist shop begins to sell burial caskets to its customers, it is engaged in product development.
Q:
The Home Depot's introduction of new fuel centers at some of its stores allows the Home Depot to better serve its current customers, such as contractors with large trucks who no longer need to go somewhere else to refuel. This is an example of product development.
Q:
A market penetration strategy entails the creation of new products for current customers.
Q:
When the Internet auction company eBay opened a version of the company called eBayfrance for the French market, that was an example of market penetration.
Q:
Berkshire Hathaway Inc., a large conglomerate holding company, owns a several insurance companies, a large chain of jewelry stores, and has recently purchased the BNSF Railway. Berkshire Hathaway uses a market penetration strategy.
Q:
Niche competitive advantages are quite common.
Q:
As marketers gain more experience in marketing a product, costs tend to decrease, which is an example of the maturity effect.
Q:
Developing a cost competitive advantage can enable a firm to deliver superior customer value.
Q:
A competitive advantage is 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.
Q:
The company's objective is to increase sales next year. This is an example of a well-stated objective.
Q:
To be useful, marketing objectives should meet four criteria: realistic, measurable, time-specific, and based on sales.
Q:
Environmental scanning entails the collection and analysis of information about factors that may affect the organization as well as the identification of market opportunities and threats.
Q:
A production costs analysis could be a part of a company's SWOT analysis.
Q:
A firm's mission statement should answer the question, "What products do we produce best?"
Q:
The marketing plan is a written document that acts as a guidebook of marketing activities for a marketing manager.
Q:
The manufacturer of Macho brand martial arts products was implementing a strategic plan when it sponsored a local karate tournament for teenagers.
Q:
The Heritage Bank is unaware of all the many tools available that will let marketers examine a firm's processes and identify potential areas for improvement. This firm wants to examine all of its goals, strategies and structure, to ensure it's on the right track and doing things well. The Heritage Bank has hired you as an outside consultant to recommend a plan of action. What do you suggest and why?
Q:
Perhaps the broadest control device available to marketing management is the marketing audit. Describe this tool and its characteristics.
Q:
The marketing mix refers to a unique blend of marketing variables known as the four Ps. Name and briefly describe each of the 4 Ps.
Q:
An essential part of marketing strategy is target market strategy. Selection of target market(s) drives marketing objectives and selection of the marketing mix (the four Ps). What are the three general strategies for selecting target markets?
Q:
List the four basic strategies used once an organization has identified its SBUs in terms of the portfolio matrix. Describe when each is used.
Q:
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.
Q:
What is a competitive advantage? What makes a competitive advantage sustainable?
Q:
Stump's Hot Olives are manufactured by a family business in Wisconsin and are sold in Midwestern grocery stores, through mail order, and to a few local restaurants. The company has been in operation since 1998 and relies on labor from family and friends to produce and package olives in attractive, reusable glass containers. They use store demonstrations to introduce their spicy olives to new customers. Discuss how this company can establish or maintain at least one of the three types of competitive advantage.
Q:
What is environmental scanning? Name four environmental forces that affect marketing decision-making.
Q:
What is a marketing objective? Name three criteria for good marketing objectives. Use the criteria to write an objective for a business with which you are familiar.
Q:
What is a SWOT analysis? How does it relate to strategic planning?
Q:
What is an SBU? If properly created, what characteristics should an SBU have?
Q:
What is marketing myopia? If a movie theater company had a myopic orientation, how might it state its business purpose? If the movie theater company avoided a myopic orientation, how would its business purpose change?
Q:
What is the difference between planning, strategic planning, and marketing planning?
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. Delta's development of a new slogan represents a change in the _____ element of its marketing mix.a. productb. promotionc. placed. productione. distribution
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. Delta's decision to make more stylish faucets represents a change in the _____ element of its marketing mix.a. productb. promotionc. placed. productione. distribution
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. While new home construction is not growing as rapidly as it once did, the number of homeowners who are remodeling bathrooms and kitchens is growing. According to the portfolio matrix, Masco would consider Delta a(n):a. question markb. exclamation pointc. stard. cash cowe. problem child
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. Since Delta was already marketing to homeowners (although not very successfully), its development of new styles of faucets to appeal to this underserved market would be an example of a _____ strategy.a. market penetrationb. product diversificationc. market developmentd. product developmente. product penetration
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. The reputation the Delta faucet has for its quality, durability, and dependability among builders is an example of a(n):a. tactical threatb. competitive advantagec. experience curved. economy of scalee. market differentiator
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. Delta Faucet would most likely have gathered the information about how homeowners perceive its products through the use of a(n):a. break-even analysisb. correlation analysisc. sales potential assessmentd. situation analysise. economic forecast
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. The Delta Faucet Company is a _____ of Masco.a. target marketb. transactional divisionc. strategic business unit (SBU)d. share-bearing unit (SBU)e. situational business usage (SBU)
Q:
NARRBEGIN: Delta FaucetDelta Faucet CompanyMasco is the name of a well-recognized company in the construction industry. It produces cabinetry, furniture, lighting, and plumbing fixtures for the upper-end homeowner and builder. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta Faucet was founded in 1955. Over the decades, it has developed a legacy based on well-crafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respect the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta Faucet. To change its image, Delta Faucet began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan, "Beautifully Engineered."NARRENDRefer to Delta Faucet Company. The marketing program, which Delta designed to develop new products to appeal to homeowners, is an example of:a. strategic planningb. a mission statementc. mass marketingd. production-oriented marketinge. tactical planning
Q:
NARRBEGIN: NovartisNovartisNovartis, 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.NARRENDRefer to Novartis. One thing Novarti plans to do is increase sales to governments and to the United Nations agencies because these are the typical buyers of vaccines to distribute in poor countries. Thus, the company is willing to give up short-term profits to increase market share for this company. In terms of the Boston Consulting Group's portfolio matrix, which basic strategy will Novartis be implementing?a. holdb. harvestc. divestd. builde. divert
Q:
NARRBEGIN: NovartisNovartisNovartis, 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.NARRENDRefer to Novartis. Tianyuan has a relatively small market share of a high-growth market in China. How would this company be classified in Novartis' portfolio matrix?a. problem childb. starc. cash cowd. doge. emergent
Q:
NARRBEGIN: NovartisNovartisNovartis, 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.NARRENDRefer 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?a. strategic windowb. market penetrationc. product developmentd. diversificatione. market development
Q:
NARRBEGIN: NovartisNovartisNovartis, 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.NARRENDRefer to Novartis. If Novartis goes through with the purchase of Tianyuan, it will become a subgroup of its overall pharmaceutical business and organization. Tianyuan will then be considered a(n) _____ of Novartis.a. stock keeping unit (SKU)b. portfolio elementc. strategic business unit (SBU)d. market segmente. business segment
Q:
NARRBEGIN: NovartisNovartisNovartis, 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.NARRENDRefer 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):a. market auditb. situation analysisc. primary analysisd. profit and loss assessmente. strategic window search
Q:
NARRBEGIN: NovartisNovartisNovartis, 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.NARRENDRefer to Novartis. Novartis is creating and maintaining a fit between its objectives and resources and evolving market opportunities in developing countries. Novartis is engaging in:a. strategic planningb. selective assessmentc. functional planningd. environment scanninge. decision analysis
Q:
NARRBEGIN: DeFeet InternationalDeFeet InternationalDeFeet International started as a cyclist sock company. The founder, Shane Cooper, said that the existing socks for cyclists were just not of great quality so he made socks for his cycling team by knitting them inside out. The socks were of special materials aimed at giving the cyclist the most comfortable fit. These socks were not the traditional white socks but bright, bold, and flashy colored socks with cool graphics. These high tech socks were priced around $10 a pair. Their web site says "DeFeet is Made for Driven Soles." Soon cycling elites like Lance Armstrong and Greg LeMond were sporting the DeFeet brand. The company branched into running, hiking and snow gear. Their products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. They also have a custom department where socks, armskins, and gloves can be customized with any motif including sponsor types of logos like Michelin, Pabst Blue Ribbon, or BP. Even kids can enjoy DeFeet's high quality socks. DeFeet's products can be found in retailers across the world, in more than twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online retailers also carry their products.NARRENDRefer to DeFeet. DeFeet's _____ includes advertising, public relations, sales promotions, and personal selling.a. productb. placec. priced. promotione. position
Q:
NARRBEGIN: DeFeet InternationalDeFeet InternationalDeFeet International started as a cyclist sock company. The founder, Shane Cooper, said that the existing socks for cyclists were just not of great quality so he made socks for his cycling team by knitting them inside out. The socks were of special materials aimed at giving the cyclist the most comfortable fit. These socks were not the traditional white socks but bright, bold, and flashy colored socks with cool graphics. These high tech socks were priced around $10 a pair. Their web site says "DeFeet is Made for Driven Soles." Soon cycling elites like Lance Armstrong and Greg LeMond were sporting the DeFeet brand. The company branched into running, hiking and snow gear. Their products include socks, armskins, calfskins, boxer briefs, gloves, and shirts for the serious athlete. They also have a custom department where socks, armskins, and gloves can be customized with any motif including sponsor types of logos like Michelin, Pabst Blue Ribbon, or BP. Even kids can enjoy DeFeet's high quality socks. DeFeet's products can be found in retailers across the world, in more than twenty countries, like Israel, Australia, Belgium and the United States. More than two-dozen online retailers also carry their products.NARRENDRefer to DeFeet. DeFeet's _____ is what its customers give up to obtain their apparel.a. product strategyb. place strategyc. price strategyd. promotion strategye. positioning strategy