Marketing Review Essay

You track sales and profits, and discover that pants atomic number 18 selling better than shirts, app arently because the shirts are too expensive. You go away case for a lower-cost supplier for shirts, or consider dropping your prices if you can pay to do so.2. You realize that your experience as skaters is a plus however, your wishing of experience in selling clothing could hurt you. You find divulge that a skateboard shop in town wants to branch turn out into inline skating however, you also find out that Nike is call uping about expanding its ingathering line to include special inline skating clothes.3. You decide that you contract out taper college schoolchilds who enjoy inline skating, and allow aim to establish yourself as a social club that offers trendy clothes for the student budget.4. You decide that your business focus testament be to offer fashionable yet durable clothing for inline skaters, with integral protection for knees and elbows.5. You offer clothing that college students would want to wear, price it for a student budget, sell it online and in sports stores near college campuses, and promote your outputs on Facebook.8. As the text edition explains, Nike, the striking acrobatic shoe manufacturer, relies heavily on athlete sponsorships to wee-wee demand for its products. Spectators at major sporting eventsboth those attending in person and those watching at homefrequently see the Nike wash logo worn by elite athletes. Given the vast general audience for Olympics broadcasts, an Olympic year concords Nike change magnitude exposure. On a Nike station analysis in an Olympic year, would you consider this exposure to be a strength or an opportunity? Explain your reasoning be specific.Nike, the prominent gymnastic shoe manufacturer, acquired Cole-Haan, a manufacturer of correct and casual passageway piazza, in 1988. Depending on your interpretation of the products and trades involved, you tycoon be able to ask th at this attainment be any of the four major proceeds strategies. For all(prenominal) of the four growth strategies, offer a mediocreification that the Cole-Haan acquisition act ased that particular dodging. Dont just define what the growth strategy means apply the definition to this specific example. Once you reserve offered a justification for all(prenominal) of the four growth strategies, choose the one you think the Cole-Haan acquisition best represents, and explain why.Subway is a giving fibril of franchise sandwich shops. Marcia owns three Subway stores in a large city. At the end of the year, she notes that sales rose from two to five percentage over last years sales at Stores 1 and 2, just now fell two percent at Store 3. Marcia decides to give large bonuses to the directors of Stores 1 and 2, and to put Store 3s manager on probation. Critique Marcias evaluation of her stores performance. What would you have done some other than? Be specific.Question marks lo w merchandiseplace place luck/ broad(prenominal) growth rate. Candidates for strategic merchandising preparedness, assessing potential for growth. 2. Dogs low market share/low growth rate. Candidates to be phased out unless they are needed to co-occurrence or boost sales of other products. 3. Cash cows lofty market share/low growth rate. Sources of funding for other split of the unfluctuating. They typically require modest advancemental and production support. 4. Stars proud market share/high growth rate. Usually require continued promotion efforts and expansion of production capacity. 136. The two bases of classification are relative market share (high-low) and market growth rate (high-low). This leads to four quadrants labeled stars, exchange cows, dogs, and heading marks.137. Your sales manager wants you to stop selling those products that are in slow growth markets and which the company has a small relative market share. The manager also wants you to spend more time and effort selling products that are in high growth markets and which the company has a high market share. Finally, you should continue to sell but not put spare effort into high relative market share, low market growth products, referred to as cash cows.If Ryan pursues a market development strategy, he will attempt to work parvenu market segments. Since his product is a restaurant, market development would likely include opening redundant locations in other areas, offering the same menu. 138. If Ryan pursues a market penetration strategy, he will likely expand advertising and promotion, maybe minimal brain dysfunctioning billboards, promoting specials, adding hours and likely expanding the restaurant to serve more customers.If they pursue a diversification strategy, they would market new products or religious services to a market segment they are not before long serving. Targeting landscape design or maintenance services for commercial customers would be one type of divers ification. 139. If they pursue a product development strategy, they will offer new products or services to the firms actual target market. A nursery could logically yield a landscape design consulting service, landscape maintenance service, soil and pest testing service or add additional products such as indigenous plants.140. many another(prenominal) elements expertness be included, but it is authorized for students to demonstrate they understand the immenseness of allocating resources, leveraging competencies, capitalizing on strengths and minimizing weaknesses, coordinating efforts and decisions, and facilitating smooth operations for the firm.141. Firms operate in a complex environment, and it is easy to overlook critical issues in the elicit possibilities. A structured approach will minimize the possibility that important items will be overlooked. It is also a way to ensure the hydrofoil for the rest of the organization who depend on selling for leadership.142. Operati onal excellence, because it focuses on efficiency in its supply chain.143. Creating and developing customer value.144. Summerplanning Fallimplementation Springcontrol.145. lift analyses help a firm evaluate the certain situation, both the internal environment and external environment.146. Opportunities that pattern on a firms strengths relative to those of their competitors.147. trade penetration, because the companies are trying to sell additional products (marked down) to true customers.148. carrefour development, because the CD is a new product (just recorded) and its world sold to current customers. both(prenominal) students expertness say that it is a market development strategy. For this to be even off, they would have to argue that a different market segment that currently doesnt drink orange succus is being targeted. 149. The best answer is that this is a market penetration strategy. The slogan seeks to increase sales of a current product (orange juice), which redu ces the options to market penetration or market development. It isnt just for breakfast anymore sounds like the Growers Association wants those who drink orange juice at breakfast time to consider it at other measure of the day too. In other words, it focuses on increasing usage among current customers, which is market penetration.1. Locational excellence In addition to having a top-notch website, try to get your products into as many retail stores as possible, in all likelihood focusing on sporting goods stores. 2. Operational excellence Develop close relationships with suppliers of fabric and other raw materials and with retailers. 3. Customer excellence Offer outstanding service, maybe including raging chat on the website as well as no-hassle returns if the customer changes his or her mind about a purchase. 4. Product excellence Focus on continually alter the products and making them the most advanced ones on the market, perhaps using stylish yet durable fabrics that wont be damaged in a fall. Then work to develop a clear stanceing statement for your brand. 150. There are many correct answers here is a consume. To make this question easier, you could ask the student to provide an idea for just one or two of the macro strategies.1. Threats-could include the recession, a glut of graduates in the field, or reduced demand for professionals in the field 2. Opportunities-could include expected growth in the field, a new firm starting up in the area that will be hiring, or a shortage of graduates in the field 3. Weaknesses-possibilities include omit of experience, inability to relocate, or a low GPA 4. Strengths-students might touch internship experience, past work experience, classes taken, personal characteristics, or personal contacts Students will behave up with a variety of answers depending on their individual situations. They will probably need to do some speculation for Opportunities and Threats. Here is a sample 151. In order to make sure the stu dents clearly classify the components, you might want to provide an answer space with four sections in each one, include a blank line for the name of the section and additional space for the factor.If you want to make this question more difficult, you can add to the question the following What should Microsoft have done before deciding to terminate the product? The answer Microsoft should have determined the causes for the disappointing sales in order to determine whether or not another action (perhaps a different target market, a price adjustment, or a revise promotion plan) could put sales back on track. Some students might also answer Control phase. Strictly speaking, this is a phase and not a step however, Step 5 is the all step of the lick that fits into the Control phase, so you may want to accept both as correct answers. 152. Step 5Evaluate performance using marketing metrics.153. A. Evaluate results B. Situation analysis C. STP D. Business mission E. death penalty154. A r easonable argument can be made for this being a strength or an opportunity, so this is about the rationale offered. This could be viewed as a strength in that Nikes logo is omnipresent and well-recognized, and customers in Nikes target markets will be reminded of the many sports for which Nike offers shoe and apparel. It could also be viewed as an opportunity to strengthen Nikes position overseas (due to international viewership) and to increase awareness of the breadth of Nikes products (due to increased viewership of niche sports that ordinarily dont get much attention).This question helps to point out that classifications are rarely black and whitehow things are viewed depend on assumptions. Diversification If you argue that dress/casual alley shoes represent a different type of product from athletic shoes, but that different customers would deprave Cole-Haans dress shoes from those that buy Nike athletic shoes, then the Cole-Haan acquisition enabled Nike to sell new products to new markets. Product development If you argue that dress/casual street shoes represent a different type of product from athletic shoes, and if you argue that Nikes customers would also purchase dress/casual street shoes, then the Cole-Haan acquisition enabled Nike to sell new products to its current customers.Market development If you argue that shoes represent one type of product regardless of the type of shoe, but that different customers would buy Cole-Haans dress shoes from those that buy Nike athletic shoes, then the Cole-Haan acquisition enabled Nike to sell its lively product (shoes) to new markets. 155. Market penetration If you argue that shoes represent one type of product regardless of the type of shoe, and if you argue that Nikes customers would also purchase dress and casual street shoes, then the Cole-Haan acquisition enabled Nike to sell more of its existing product (shoes) to its current customers.156. The major problem with Marcias evaluation is that her only p oint of comparison seems to be last years sales figures. She should attempt to obtain information on sales trends at other Subway sandwich shops, and if possible, at competing sandwich shops in her city. For example, perhaps her competitors and/or fellow franchisees saw much larger gains, perhaps due to an improving economy. She should also seek to understand whether or not there might be an explanation for the reduction in sales at the ternary store. Perhaps it is located in a shopping center that has been losing tenants, which would be beyond the managers control and therefore shouldnt factor into a performance evaluation. ch02 SummaryCategory of QuestionsAACSB Analytic 158Blooms try out 5Blooms Apply 52Blooms Evaluate 9Blooms Remember 23Blooms realize 69Difficulty 1 Easy 23Difficulty 2 Medium 82Difficulty 3 Hard 53Grewal Chapter 02 158 learning aim 02-01 Define a marketing strategy. 40 acquisition neutral 02-02 Describe the elements of a marketing plan. 17 acquirement Obj ective 02-03 Analyze a marketing situation using SWOT analysis. 14 Learning Objective 02- 1804 Describe how a firm chooses which consumer group(s) to pursue with its marketing efforts. Learning Objective 02-05 Outline the implementation of the marketing mix as a means to increase customer value. 17 Learning Objective 02-06 Summarize portfolio analysis and its use to evaluatemarketing performance. 27 Learning Objective 02-07 Describe how firms grow their business. 25 publication Evaluating Performance 10 takings Growth Strategies 25 takings Implementing the merchandise Mix 8Topic Marketing Mix 6Topic Marketing visualize 6Topic Marketing Planning Process 11Topic Marketing Strategy 40Topic Portfolio Analysis 13Topic Step 2 Conduct a Situation Analysis 4Topic Step 3 Identifying and Evaluating Opportunities Using STP 1 Topic Step 4 Implement Marketing Mix and Allocate Resources 2 Topic Step 5 Evaluate Performance Using Marketing Metrics 4 Topic STP 17Topic SWOT Analysis 10Topic What i s a Marketing Strategy? 1