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Welcome to. Who Wants to Be a Marketer?. Created for Marketing , 7th Ed., by Lamb, Hair and McDaniel South-Western/Thomson Learning Chapter 2 - Strategic Planning for Competitive Advantage. Created by John T. Drea, Western Illinois University. Click here to start. Select another

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  1. Welcome to Who Wants to Be a Marketer? Created for Marketing, 7th Ed., by Lamb, Hair and McDaniel South-Western/Thomson Learning Chapter 2 - Strategic Planning for Competitive Advantage Created by John T. Drea, Western Illinois University Click here to start

  2. Select another chapter Go to Round 2 Who Wants to Be a Marketer? Round 1 Chapter 2 – Strategic Planning Go to Final Challenge! Sources of Competitive Advantage Choose Wisely SBU Strategies Strategic Alternatives Basic Terms 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 Click on a point value to select an answer/question

  3. Whoops! You’ve clicked on an area other than a point value or button. Please click below to return to the main answer board. Click to Return to the Answer Board

  4. Basic Terms - 100 points • Answer: They are the 4 P’s of marketing. Reveal the Question!

  5. Basic Terms - 100 points • Answer: They are the 4 P’s of marketing. • Question: What are product, promotion, price, and place (distribution)? Back to the answer board

  6. Basic Terms - 200 points • Answer: It is the term used to describe the managerial process of creating and maintaining a fit between the organization’s objectives and resources and evolving market opportunities. Reveal the Question!

  7. Basic Terms - 200 points • Answer: It is the term used to describe the managerial process of creating and maintaining a fit between the organization’s objectives and resources and evolving market opportunities. • Question: What is strategic planning? Back to the answer board

  8. Basic Terms - 300 points • Answer: It is the term used to describe the process of anticipating future events and determining strategies to achieve organizational objectives in the future. Reveal the Question!

  9. Basic Terms - 300 points • Answer: It is the term used to describe the process of anticipating future events and determining strategies to achieve organizational objectives in the future. • Question: What is planning? Back to the answer board

  10. Open Challenge!!! Determine how much of your total you want to wager, then click below. Go to the Open Challenge Question!

  11. Basic Terms - Open Challenge • Answer: This term describes an organization’s long-term vision, based on a careful analysis of benefits sought by its customers and an analysis of environmental conditions. It is also the first part of an organization’s marketing plan. Reveal the Question!

  12. Basic Terms - Open Challenge • Answer: This term describes an organization’s long-term vision, based on a careful analysis of benefits sought by its customers and an analysis of environmental conditions. It is also the first part of an organization’s marketing plan. • Question: What is a mission statement? (or business mission) Back to the answer board

  13. Basic terms - 500 points • Answer: This term, often known by its three letter abbreviation, is a subgroup of a single business (or a collection of related businesses in a large organization.) Reveal the Question!

  14. Basic terms - 500 points • Answer: This term, often known by its three letter abbreviation, is a subgroup of a single business (or a collection of related businesses in a large organization.) • Question: What is a strategic business unit (SBU)? Back to the answer board

  15. Sources of Competitive Advantage - 100 points • Answer: This curve shows that costs decline at a predictable rate as experience with a product increases. Reveal the Question!

  16. Sources of Competitive Advantage - 100 points • Answer: This curve shows that costs decline at a predictable rate as experience with a product increases. • Question: What is an experience curve? Back to the answer board

  17. Sources of Competitive Advantage - 200 points • Answer: This category of competitive advantage exists when a firm provides something unique that is valued by customer beyond simply offering a low price. (ex: a strong dealer network for Caterpillar Corp.) Reveal the Question!

  18. Sources of Competitive Advantage - 200 points • Answer: This category of competitive advantage exists when a firm provides something unique that is valued by customer beyond simply offering a low price. (ex: a strong dealer network for Caterpillar Corp.) • Question: What is a competitiveadvantage? Back to the answer board

  19. Sources of Competitive Advantage - 300 points • Answer: An example of this type of competitive advantage can be found at DuPont, where technicians created a process for producing titanium dioxide which gives DuPont a 20% cost advantage over its competitors. Reveal the Question!

  20. Sources of Competitive Advantage - 300 points • Answer: An example of this type of competitive advantage can be found at DuPont, where technicians created a process for producing titanium dioxide which gives DuPont a 20% cost advantage over its competitors. • Question: What is a cost competitive advantage? Back to the answer board

  21. Sources of Competitive Advantage - 400 points • Answer: This means of creating a competitive advantage is defined as the features of a product or service that signal value to a customer. For example, a foil package may connote luxury to a customer. Reveal the Question!

  22. Sources of Competitive Advantage - 400 points • Answer: This means of creating a competitive advantage is defined as the features of a product or service that signal value to a customer. For example, a foil package may connote luxury to a customer. • Question: What are value impressions? Back to the answer board

  23. Sources of Competitive Advantage - 500 points • Answer: This type of competitive advantage is created/achieved when a firm targets and effectively serves a small segment of the market. It may be the only viable option for a small company with limited resources potentially facing large competitors. Reveal the Question!

  24. Sources of Competitive Advantage - 500 points • Answer: This type of competitive advantage is created/achieved when a firm targets and effectively serves a small segment of the market. It may be the only viable option for a small company with limited resources potentially facing large competitors. • Question: What is a niche competitive advantage? Back to the answer board

  25. SBU Strategies - 100 points (build, hold, harvest, or divest) • Answer: This strategy is most suitable for SBUs with low shares in low growth markets. Reveal the Question!

  26. SBU Strategies - 100 points (build, hold, harvest, or divest) • Answer: This strategy is most suitable for SBUs with low shares in low growth markets. • Question: What is divest? Back to the answer board

  27. SBU Strategies - 200 points (build, hold, harvest, or divest) • Answer: This strategy would be most appropriate if the SBU is a very successful cash cow. This is done to keep the market share and continue the positive cash flow. Reveal the Question!

  28. SBU Strategies - 200 points (build, hold, harvest, or divest) • Answer: This strategy would be most appropriate if the SBU is a very successful cash cow. This is done to keep the market share and continue the positive cash flow. • Question: What is hold? Back to the answer board

  29. SBU Strategies - 300 points (build, hold, harvest, or divest) • Answer: This strategy is appropriate when an SBU is a “problem child” but has the potential to become a “star.” An example would be P & Gs handling of the Pringles brand in the 1990s. Reveal the Question!

  30. SBU Strategies - 300 points (build, hold, harvest, or divest) • Answer: This strategy is appropriate when an SBU is a “problem child” but has the potential to become a “star.” An example would be P & Gs handling of the Pringles brand in the 1990s. • Question: What is build? Back to the answer board

  31. SBU Strategies - 400 points (build, hold, harvest, or divest) • Answer: This strategy is commonly associated with “problem children” and “dogs” where a company has a low share and is unlikely to be able to improve its position. An example would be P & G’s handling of Cincaprin, a coated aspirin. Reveal the Question!

  32. SBU Strategies - 400 points (build, hold, harvest, or divest) • Answer: This strategy is commonly associated with “problem children” and “dogs” where a company has a low share and is unlikely to be able to improve its position. An example would be P & G’s handling of Cincaprin, a coated aspirin. • Question: What is divest? Back to the answer board

  33. SBU Strategies - 500 points (build, hold, harvest, or divest) • Answer: This strategy may be appropriate for “dogs,” “cash cows,” or “problem children.” The basic goal is to increase the short-term cash return without too much concern for the long-run impact. Reveal the Question!

  34. SBU Strategies - 500 points (build, hold, harvest, or divest) • Answer: This strategy may be appropriate for “dogs,” “cash cows,” or “problem children.” The basic goal is to increase the short-term cash return without too much concern for the long-run impact. • Question: What is harvest? Back to the answer board

  35. Strategic Alternatives - 100 points (market penetration, market development, product development, diversification) • Answer: An example of this strategy is when Burger King advertises to current customers, encouraging them to eat at Burger King more frequently. Reveal the Question!

  36. Strategic Alternatives - 100 points (market penetration, market development, product development, diversification) • Answer: An example of this strategy is when Burger King advertises to current customers, encouraging them to eat at Burger King more frequently. • Question: What is a market penetration strategy? Back to the answer board

  37. Strategic Alternatives - 200 points (market penetration, market development, product development, diversification) • Answer: An example of this strategy would be a hair styling salon, which had formerly targeted women, begins to offer a new product line (e.g., clothing) for men. Reveal the Question!

  38. Strategic Alternatives - 200 points (market penetration, market development, product development, diversification) • Answer: An example of this strategy would be a hair styling salon, which had formerly targeted women, begins to offer a new product line (e.g., clothing) for men. • Question: What is a diversification strategy? Back to the answer board

  39. Strategic Alternatives - 300 points (market penetration, market development, product development, diversification) • Answer: An example of this type of strategy would be when Coca-Cola introduced a new product (Fruitopia) to its existing markets. Reveal the Question!

  40. Strategic Alternatives - 300 points (market penetration, market development, product development, diversification) • Answer: An example of this type of strategy would be when Coca-Cola introduced a new product (Fruitopia) to its existing markets. • Question: What is a product development strategy? Back to the answer board

  41. Strategic Alternatives - 400 points (market penetration, market development, product development, diversification) • Answer: An example of this strategy is McDonald’s entry into China with its current product mix. Reveal the Question!

  42. Strategic Alternatives - 400 points (market penetration, market development, product development, diversification) • Answer: An example of this strategy is McDonald’s entry into China with its current product mix. • Question: What is a market development strategy? Back to the answer board

  43. Strategic Alternatives - 500 points (market penetration, market development, product development, diversification) • Answer: Marketers who follow this strategy frequently do so because they are confident that they understand the needs of their existing markets. They know what customers like/dislike about current products and their unmet needs. Reveal the Question!

  44. Strategic Alternatives - 500 points (market penetration, market development, product development, diversification) • Answer: Marketers who follow this strategy frequently do so because they are confident that they understand the needs of their existing markets. They know what customers like/dislike about current products and their unmet needs. • Question: What is a product development strategy? Back to the answer board

  45. High Market Growth Rate Low High Low Relative Market Share Choose Wisely - 100 points (answer/questions about selecting strategic alternatives) • Answer: Developed by the Boston Consulting Group, this approach to evaluating strategic alternatives uses relative market share and market growth rate. (click for chart) Reveal the Question!

  46. High Market Growth Rate Low High Low Relative Market Share Choose Wisely - 100 points (answer/questions about selecting strategic alternatives) • Answer: Developed by the Boston Consulting Group, this approach to evaluating strategic alternatives uses relative market share and market growth rate. (click for chart) Question: What is a portfolio matrix? Back to the answer board

  47. High Market Growth Rate Low High Low Relative Market Share Choose Wisely - 200 points (answer/questions about selecting strategic alternatives) • Answer: It is the portfolio matrix term to describe a strategic business unit that has a high market growth rate and high market share dominance. (click for chart) Reveal the Question!

  48. High Market Growth Rate Low High Low Relative Market Share Choose Wisely - 200 points (answer/questions about selecting strategic alternatives) • Answer: It is the portfolio matrix term to describe a strategic business unit that has a high market growth rate and high market share dominance. (click for chart) Question: What is a star? Back to the answer board

  49. High Market Growth Rate Low High Low Relative Market Share Choose Wisely - 300 points (answer/questions about selecting strategic alternatives) • Answer: It is the portfolio matrix term to describe a strategic business unit that has a low market growth rate and high market share dominance. (click for chart) Reveal the Question!

  50. High Market Growth Rate Low High Low Relative Market Share Choose Wisely - 300 points (answer/questions about selecting strategic alternatives) • Answer: It is the portfolio matrix term to describe a strategic business unit that has a low market growth rate and high market share dominance. (click for chart) Question: What is a cash cow? Back to the answer board

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