Chapter 6 Media Quiz - Strategy Formulation and Execution

According to Joe, the CEO of Theo Chocolate, which of the following is the most important parameter for Theo Chocolate's customers?

The quality of the chocolates

According to Debra, the vice president of sales and marketing, Theo Chocolate is the only chocolate manufacturer that:

controls its supply chain from start to finish.

One of Theo Chocolate's strategies that sets it apart from its competitors is that it:

educates customers about fair trade

The flaw that Joe, the CEO of Theo Chocolate, discovered in his company's early strategy was that it:

failed to align with the wants of mainstream consumers.

Theo Chocolate's companywide decision to pursue mainstream customers and high volume sales is consistent with its _____.

growth strategy

According to Debra, the vice president of sales and marketing, Theo Chocolate's competitive advantage within the chocolate industry is that it:

is the only company that manufactures organic fair trade chocolate.

To make the brand more popular among consumers, Theo Chocolate decided to:

offer a more accessible and mainstream product line to consumers.

Theo Chocolate's early strategy to have a competitive advantage over other chocolate manufacturers involved:

offering products the management found exciting and putting them in packaging it liked.

The management of Theo Chocolate took steps to fix their early strategy by:

reevaluating the company's numbers and searching for profitable opportunities.

According to Debra, the vice president of Theo Chocolate, the most important marketing vehicle the company has is:

tours of its factories

According to Debra, the vice president of Theo Chocolate, one of the results of offering simpler products is that people are:

willing to try more unusual flavors

As a part of the new strategy, one of the steps that managers at Theo Chocolate decided to take was to:

wrap chocolate bars in easily readable packaging.