BAS 282: Strategic Planning: Homework

This strategy emphasizes the importance of the people who buy the product.

Customer Excellence

Firms that compete with products designed around similar characteristics or features

Direct Competitors

For McDonald's, the following companies: Burger King, Wendy's, Sonic Drive-In, In-N-Out Burger

Direct Competitors

Competing firms that may be overlooked entirely because they do not sell the same category of product

Indirect Competitors

Firms that sell products with different characteristics but similar functions

Indirect Competitors

For Paramount Pictures (a movie studio), the following companies: Simon & Schuster (a book publisher), BMG (a record label), and HBO (a cable television channel)

Indirect Competitors

Apple opening mini-stores within Target

Market Penetration

Dominos promoting buy one pizza, get a second a half off

Market Penetration

Which of the following statements about MaryAnn's business confirm that MaryAnn is fulfilling customer excellence?

MaryAnn makes sure she keeps ingredient lists on hand for customers with dietary restrictions.

This strategy focuses on excellence in business systems and processes.

Operational Excellence

Burger King developing a new breakfast menu

Product Development

Joan's first objective is "Improve profitability by the end of the year." To make this objective more focused and accountable, Joan should seek to

increase profit by 2 percent each month for the next six months.

Joan's second objective is "Have a stronger presence on social media." To make this objective more measurable, Joan should seek to

increase the number of Twitter followers to at least 8,000 by the end of August.

MaryAnn always makes sure she parks her truck in a location convenient for customers; she also keeps her Instagram account updated with photos of any new or special crepes she has available for the week. These actions represent which element of sustainable competitive advantage?

locational excellence

Marco's marketing consultant explains that if the Upcycled Dog focuses on selling more dog beds to his current customer base, he would be following which category of growth strategy?

market penetration

Disney purchasing ESPN

Diversification

Achieving this strategy sometimes requires the company to have a flashy but easy-to-navigate website.

Locational Excellence

This strategy focuses on making products easily and conveniently available for purchase.

Locational Excellence

Nintendo Wii products targeted at senior citizens as a way for them to stay active indoors

Market Development

Bandito's realizes that U.S. consumers are becoming increasingly health conscious. The company therefore develops a line of healthier options: baked (rather than fried) potato chips, pretzels with reduced salt, and "protein packs" of unsalted nuts that customers can use as an energy boost. Which type of strategy is Bandito using here?

product development

Marketers create this type of excellence by selling goods and services that satisfy people and offer high value for the price.

Customer Excellence

All the products you might buy when you are considering your purchasing options for a particular type of product

Direct Competitors

Marco, the owner of the Upcycled Dog, has hired a marketing consultant to help him identify the best growth strategy for his business. The consultant explains that one or a mix of strategies could work, depending on Marco's goals; those strategies include all of the following except

competitive advantage.

Microsoft buying a snack food company

Diversification

Arm & Hammer selling baking soda for new purposes

Market Development

Which of the following statements about MaryAnn's business confirm that MaryAnn is fulfilling product excellence?

MaryAnn uses only special heirloom fruits in her crepes as per her traditional family recipes.

To achieve this type of excellence, a firm must have strong managers, specific goals, smooth relations among employees, and an appropriate level of inputs or resources.

Operational Excellence

Ford developing the Ford Escape Hybrid SUV

Product Development

This strategy focuses on supplying high-quality goods and services to the market.

Product Excellence

To achieve this type of excellence, company managers must gather feedback from the market, test-market ideas, and engage in continuous improvement.

Product Excellence

Joan's fourth and final objective is "Offer a wider variety of products to generate more foot traffic and more sales." To make this objective more specific, Joan should seek to

add paczki, chrusciki, and mazurkas (all popular Polish desserts) to appeal to the area's large Polish-American population.

MaryAnn keeps running out of heirloom apples for her apple crepes, her most popular product. Which aspect of operational excellence does this problem impact?

adequate resources

Bandito's CEO believes that Bandito's products are not just snack foods. They are also a cultural phenomenon. Because the company has been in business for almost seven decades, almost every generation of Americans has enjoyed Bandito's different products. The CEO believes there is money to be made in selling T-shirts, caps, headbands, and other types of apparel to people who love "Americana." So, the company hires apparel designers, manufactures the items, and begins selling them in various outlets. Which type of strategy is Bandito using here?

diversification

Marco's marketing consultant realizes that the Upcycled Dog has a strong product breadth; to manage the impact of the rising and falling sales of individual products, however, the consultant suggests that Marco consider offering customers a pet grooming service. This category of growth strategy is called

diversification.

Joan's third objective is "Become the most popular, profitable, and successful ice cream parlor in Massachusetts." Given that Joan's Cones is a start-up business with limited capital, to make this objective more realistic and achievable, Joan should

make Joan's Cones into a destination spot for those passing through from neighboring towns.

Bandito's CEO wants to expand beyond U.S. borders. It begins by exporting its products to Mexico and Canada, which are contiguous with the United States. To ensure the freshness of its products when it begins selling them in the United Kingdom and other European countries, Bandito will open manufacturing facilities in Europe. Which type of strategy is Bandito using here?

market development

Marco's marketing consultant indicates that there is an international demand for pet accessories made from upcycled materials. If Marco decides to expand his international presence, which growth strategy would he be following?

market development

One of Bandito's most popular brands is Percy's Potato Chips, which has the reputation for being the crispiest and freshest potato chips available. To sell more chips, the company decides to offer an automatic delivery service to current Percy's Potato Chip eaters. Twice a week, drivers deliver two bags of freshly fried potato chips to customers' doors. If the customers are not at home, the drivers leave the bags in a special "Percy's Chips" box that the company has given its subscribers. Which type of strategy is Bandito using here?

market penetration

Marco has gotten questions from customers about digital pet feeders for their dogs. If Marco decides to introduce a new digital pet feeder to the Upcycled Dog accessories line, which growth strategy would he be using?

product development