Marketing Review Essay

You track gross sales and profits, and discover that pants be selling better than shirts, seemingly because the shirts are too expensive. You depart look for a pitiableer-cost supplier for shirts, or upset dropping your prices if you great deal afford to do so.2. You realize that your experience as skaters is a plus however, your lack of experience in selling tog could hurt you. You find out that a skateboard shop in townspeople wants to branch out into in mental strain skating however, you also find out that Nike is thinking about expanding its reaping line to take on special inline skating clothes.3. You decide that you pull up stakes target college bookmans who enjoy inline skating, and will aim to ground yourself as a company that offers trendy clothes for the student budget.4. You decide that your business focus will be to offer fashionable yet durable clothing for inline skaters, with built-in protection for knees and elbows.5. You offer clothing that college studen ts would want to wear, price it for a student budget, sell it online and in sports stores near college campuses, and promote your products on Facebook.8. As the text explains, Nike, the self-aggrandising acrobatic shoe manufacturer, relies heavily on athlete sponsorships to build demand for its products. Spectators at major sporting eventsboth those attending in person and those watching at home oft see the Nike swoosh logo worn by elite athletes. Given the vast worldwide sense of hearing for Olympics broadcasts, an Olympic year gives Nike incrementd exposure. On a Nike situation 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 athletic shoe manufacturer, acquired Cole-Haan, a manufacturer of dress and insouciant street seat, in 1988. Depending on your rendering of the products and foodstuff place placeplaces involved, you might be able to argue that this skill represe nted any of the four major harvest- season strategies. For EACH of the four ripening strategies, offer a justification that the Cole-Haan learnedness represented that particular strategy. dupet just define what the ripening strategy means apply the definition to this specific example. once you have offered a justification for each of the four growth strategies, choose the angiotensin-converting enzyme you think the Cole-Haan acquisition best represents, and explain why. tubing is a large chain 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 deuce to five per centum over last years sales at Stores 1 and 2, but fell two percent at Store 3. Marcia decides to give large bonuses to the managers of Stores 1 and 2, and to put Store 3s manager on probation. Critique Marcias evaluation of her stores performance. What would you have d single differently? Be specific. interrogation marks pitiful mark et share/high growth rate. Candidates for strategic trade planning, assessing potential for growth. 2. Dogs low market share/low growth rate. Candidates to be phased out unless they are needed to complement or boost sales of early(a) products. 3. Cash cows high market share/low growth rate. Sources of funding for other parts of the unattackable. They typically require modest promotional and production support. 4. Stars high 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 designate stars, cash cows, dogs, and question 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 than time and effort selling products that are in high growth mar kets and which the company has a high market share. Finally, you should continue to sell but not put supererogatory effort into high relative market share, low market growth products, referred to as cash cows.If Ryan keep an eye ons a market development strategy, he will attempt to serve new market instalments. Since his product is a restaurant, market development would likely include opening additional locations in other areas, offering the same menu. 138. If Ryan pursues a market penetration strategy, he will likely expand advertising and promotion, maybe adding 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 service to a market segment they are not onlinely serving. Targeting beautify design or maintenance services for commercial customers would be one grapheme of diversification. 139. If they pursue a product development strategy, they will offer new products or services to the flyings current target market. A nursery could logically provide a landscape design consulting service, landscape maintenance service, soil and pest testing service or add additional products such as indigenous plants.140. Many elements might be included, but it is important for students to demonstrate they pull in the importance 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 convoluted environment, and it is easy to overlook critical issues in the overwhelming possibilities. A structured approach will lessen the possibility that important items will be overlooked. It is also a way to ensure the transparency for the rest of the organization who depend on marketing for leadership.142. operable excellence, because it focuses on efficiency in its supply chain.143. Creating and mat uration customer value.144. Summerplanning Fallimplementation Springcontrol.145. SWOT analyses help a firm evaluate the current situation, both the internal environment and external environment.146. Opportunities that build on a firms strengths relative to those of their competitors.147. Market penetration, because the companies are labeling to sell additional products (marked down) to current customers.148. Product development, because the CD is a new product (just recorded) and its being sold to current customers. Some students might opine that it is a market development strategy. For this to be correct, they would have to argue that a different market segment that currently doesnt drink orange juice 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 reduces the options to market penetration or market development. It isnt just for breakfast anymore sounds like the G rowers Association wants those who drink orange juice at breakfast time to consider it at other times 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, probably 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, perhaps including live chat on the website as well as no-hassle returns if the customer changes his or her soul about a purchase. 4. Product excellence Focus on continually improving the products and making them the or so advanced ones on the market, perhaps using stylish yet durable fabrics that wont be damaged in a fall. Then work to develop a clear positioning account for your brand. 150. There are many correct answers here is a sample. 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 lug 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 lack of experience, inability to relocate, or a low GPA 4. Strengths-students might mention internship experience, past work experience, classes taken, personal characteristics, or personal contacts Students will come up up with a variety of answers depending on their individual situations. They will probably need to do whatsoever speculation for Opportunities and Threats. Here is a sample 151. In order to make sure the students clearly consort the factors, you might want to provide an answer space with four sections in each one, incl ude 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 todiscontinue 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 rewrite promotion plan) could put sales back on track. Some students might also answer view as phase. Strictly speaking, this is a phase and not a dance step however, meter 5 is the only step of the process that fits into the Control phase, so you may want to accept both as correct answers. 152. tempo 5Evaluate performance using marketing metrics.153. A. Evaluate results B. Situation analysis C. STP D. melodic line mission E. Implementation154. A reasonable argument can be made for this being a strength or an opportunity, so this is about th e rationale offered. This could be viewed as a strength in that Nikes logo is ubiquitous and well-recognized, and customers in Nikes target markets will be reminded of the many sports for which Nike offers shoes and apparel. It could also be viewed as an opportunity to strengthen Nikes position overseas ( due(p) to international viewership) and to increase awareness of the breadth of Nikes products (due to increased viewership of niche sports that ordinarily dont get often 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/ unremarkable street shoes represent a different suit of product from athletic shoes, 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 new products to new markets. Product development If you argue that dress/casual street shoes represe nt 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 existing 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 hassle with Marcias evaluation is that her only point of comparison seems to be last years sales figures. She should attempt to obtain i nformation 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 third store. Perhaps it is located in a shop 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 Analyze 5Blooms Apply 52Blooms Evaluate 9Blooms Remember 23Blooms Understand 69Difficulty 1 Easy 23Difficulty 2 Medium 82Difficulty 3 Hard 53Grewal Chapter 02 158Learning object 02-01 Define a marketing strategy. 40Learning Objective 02-02 Describe the elements of a marketing plan. 17 Learning Objective 02-03 Analyze a marketing situation using SWOT analysis. 14 Learning Objective 02- 1804 Des cribe 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 summate portfolio analysis and its use to evaluatemarketing performance. 27 Learning Objective 02-07 Describe how firms grow their business. 25 Topic Evaluating Performance 10Topic Growth Strategies 25Topic Implementing the market variety 8Topic Marketing Mix 6Topic Marketing Plan 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 is a Marketing Strategy? 1