Strategic Analysis and Growth Strategies in Business

Based on your sales and profits analysis, it seems that pants are outselling shirts due to the shirts' high pricing. To address this issue, you can either search for a more affordable supplier for shirts or potentially lower the prices if financially feasible.

2. Although your experience as skaters is an advantage, your lack of experience in selling clothing could be a disadvantage. You discover that a local skateboard shop is interested in expanding into inline skating, but you also learn that Nike is considering adding special inline skating apparel to their product range.

3. As a company, you determine to focus on college students who have an interest in inline skating. Your objective is to build a reputation as a brand that provides stylish apparel at affordable prices for students.

You determine that your business's objective is to provide stylish clothing for inline skaters that is also long-lasting, while also incorporating knee and elbow protection.

You offer clothing that is attractive to college students, with prices that are affordable for students.

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You sell your products both online and in sports stores near college campuses, and you promote them on Facebook.

8. Nike relies heavily on athlete sponsorships to generate interest in its athletic shoes. The brand's famous "swoosh" logo is frequently seen on top athletes during major sporting events, both live and televised. With the Olympics being a global event that attracts a massive audience, Nike gains even more visibility. When evaluating Nike's position in an Olympic year, should this exposure be viewed as a strength or an opportunity? Justify your answer with specific explanations.

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In 1988, Nike acquired Cole-Haan, a manufacturer of both dress and casual street shoes. This acquisition can be seen as an implementation of one of the four major growth strategies, depending on how one interprets the products and markets involved. Each of these growth strategies can be justified in relation to the Cole-Haan acquisition. Instead of defining each growth strategy separately, we will apply their definitions to this specific example. After considering all four growth strategies, we will determine which one best represents the Cole-Haan acquisition and provide an explanation for our choice.

Subway is a popular franchise that operates numerous sandwich shops. Marcia is the proprietor of three Subway establishments located in a bustling urban area. After examining the annual sales figures, Marcia observes an increase ranging from two to five percent in comparison to the previous year's sales for Stores 1 and 2. However, Store 3 experienced a decline of two percent in sales. In response, Marcia opts to reward the managers of Stores 1 and 2 with generous bonuses while placing the manager of Store 3 under probation. Evaluate Marcia's assessment of her stores' performance and provide specific suggestions for alternative approaches.

Question marks refer to products with a low market share but a high growth rate. These products are potential candidates for strategic marketing planning as they have potential for growth. Dogs, on the other hand, have both a low market share and a low growth rate. These products are generally considered for phasing out unless they are needed to complement or boost sales of other products. Cash cows, however, have a high market share but a low growth rate. These products serve as sources of funding for other parts of the firm and typically require modest promotional and production support. Lastly, stars have both a high market share and ahigh growth rate. These products usually require continued promotion efforts and expansion of production capacity. In summary, the classification of products into these categories is based on their relative market share and market growth rate. This classification system results in four quadrants known as stars, cash cows, dogs, and question marks.

137. To meet the sales manager's goals, you need to refrain from selling products in slow growth markets with a low relative market share. Instead, prioritize selling products in high growth markets where the company has a significant market share. Additionally, continue selling cash cows with a high relative market share but avoid exerting extra effort on them.

If Ryan chooses to pursue a market development strategy, his goal will be to target new market segments. Given that his product is a restaurant, implementing market development would involve opening more locations in different areas while offering the same menu. On the other hand, if Ryan opts for a market penetration strategy, he will focus on increasing advertising and promotion efforts, possibly utilizing billboards and promoting specials. Additionally, he may extend working hours and expand the restaurant itself in order to accommodate a larger customer base.

If a company decides to follow a diversification strategy, it means they would introduce new products or services to a market segment that they are currently not targeting. For instance, offering landscape design or maintenance services to commercial customers would be considered diversification. On the other hand, if the company chooses a product development strategy, it would involve launching new products or services for their existing target market. For example, a nursery could expand their offerings by providing consulting services for landscape design, maintenance services, soil and pest testing services, or including additional products such as indigenous plants.

140. It is crucial for students to show they comprehend the significance of allocating resources, utilizing competencies, taking advantage of strengths, reducing weaknesses, coordinating efforts and decisions, and enabling efficient operations for the company.

141. In the overwhelming possibilities of a complex environment, firms may easily overlook critical issues. To mitigate this risk, adopting a structured approach is crucial. Not only does it minimize the possibility of overlooking important matters, but also ensures transparency for the rest of the organization who rely on marketing for guidance.

142. Operational excellence involves a focus on efficiency in the supply chain.

143. The process of generating and enhancing customer value.

144. The process is divided into three phases: planning in the summer, implementation in the fall, and control in the spring.

SWOT analyses assist firms in assessing their present situation, encompassing both the internal and external environments.

146. Creating opportunities based on a company's strengths in comparison to its competitors.

147. Market penetration refers to the strategy implemented by companies to sell discounted additional products to their existing customers.

148. The CD is a newly recorded product and is being sold to current customers. Some students argue that it is a market development strategy, assuming that a different market segment, not currently consuming orange juice, is being targeted. 149. However, the correct answer is that this is a market penetration strategy. The Growers Association aims to increase sales of the current product, orange juice. The slogan "It isn't just for breakfast anymore" suggests that the Association wants current breakfast-time orange juice drinkers to also consider consuming it at other times of the day. Therefore, the focus is on increasing usage among current customers, which aligns with market penetration.

1. Locational excellence: It is recommended to distribute your products to various retail stores, particularly those specializing in sporting goods, in addition to having a high-quality website. 2. Operational excellence: Forge strong relationships with fabric and raw material suppliers, as well as retailers. 3. Customer excellence: Provide exceptional service, such as offering live chat on the website and hassle-free returns for customers who change their mind about their purchase. 4. Product excellence: Continuously enhance the quality of your products, making them the most advanced options in the market. Utilize stylish yet durable fabrics that are resistant to damage from falls. Additionally, create a clear brand positioning statement. 150. There are several possible answers for this question. One example would be to ask the student for ideas regarding one or two of the macro strategies, in order to simplify the question.

The text discusses various factors that students need to consider when analyzing their career prospects. These factors include threats, opportunities, weaknesses, and strengths.

Threats can include the recession, a surplus of graduates in the field, or reduced demand for professionals in the field. On the other hand, opportunities may arise from expected growth in the field, the establishment of a new firm that will be hiring in the area, or a shortage of graduates in the field. Weaknesses can manifest as a lack of experience, inability to relocate, or a low GPA. Alternatively, strengths that students might possess could be internship experience, past work experience, classes taken, personal characteristics, or personal contacts.

Depending on their individual situations, students will come up with different answers for each factor. Speculating about opportunities and threats may be necessary. To ensure clarity in categorizing these factors, it might be helpful to provide an answer space with four sections—each accompanied by a blank line for the name of the section and additional space for specifying 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 discontinue 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 revised 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 only step of the process that fits into the Control phase, so you may want to accept both as correct answers. 152. Step 5--Evaluate performance using marketing metrics.

153. The text includes a list of items: A. Evaluate results; B. Situation analysis; C. STP; D. Business mission; E. Implementation.

154. This could be seen as both a strength and an opportunity, depending on the rationale provided. On one hand, Nike's logo is widely known and constantly present, serving as a reminder to customers in Nike's target markets of the variety of sports merchandise available. On the other hand, it presents an opportunity to enhance Nike's global position through international viewership and create more awareness of Nike's range of products by showcasing niche sports that typically receive less attention.

This question emphasizes that classifications are not always clear-cut - how things are perceived depends on assumptions. In terms of diversification, if one argues that dress/casual street shoes and athletic shoes are distinct products with different customer bases, Nike's acquisition of Cole-Haan allowed them to introduce new products to untapped markets. Conversely, in terms of product development, if one argues that dress/casual street shoes and athletic shoes are separate categories but share the same customer base, acquiring Cole-Haan enabled Nike to offer new products to their existing customers.

Market development: The Cole-Haan acquisition allowed Nike to sell its existing product (shoes) to new markets by appealing to different customers who would buy Cole-Haan's dress shoes instead of Nike athletic shoes.

Market penetration: The Cole-Haan acquisition enabled Nike to sell more of its existing product (shoes) to its current customers by recognizing that shoes represent one type of product regardless of the type of shoe, and that Nike's customers would also be interested in purchasing dress and casual street shoes.

156. The main issue with Marcia's evaluation is that she only compares it to last year's sales figures. She should try to gather information on sales trends at other Subway sandwich shops and, if possible, at competing sandwich shops in her city. For example, her competitors and/or fellow franchisees may have experienced much higher gains, potentially due to a recovering economy. She should also investigate whether there is a reason for the decrease in sales at the third store. It is possible that the store is located in a shopping center that has been losing tenants, which is beyond the manager's control and should not be considered in a performance evaluation. ch02 Summary

Category # of Questions AACSB: Analytic 158 Blooms: Analyze 5 Blooms: Apply 52 Blooms: Evaluate 9 Blooms: Remember 23 Blooms: Understand 69 Difficulty: 1 Easy 23 Difficulty: 2 Medium 82 Difficulty: 3 Hard 53 Grewal - Chapter 02 Learning Objective: 02-01 Define a marketing strategy. (40) 02-02 Describe the elements of a marketing plan. (17) 02-03 Analyze a marketing situation using SWOT analysis. (14) 02-05 Outline the implementation of the marketing mix as a means to increase customer value. (17) 02-06 Summarize portfolio analysis and its use to evaluate marketing performance. (27) 02-07 Describe how firms grow their business. (25) Topic: Evaluating Performance (10)

The topics covered in this text include Growth Strategies (25), Implementing the Marketing Mix (8), Marketing Mix (6), Marketing Plan (6), Marketing Planning Process (11), Marketing Strategy (40), Portfolio Analysis (13). The steps involved in the marketing planning process are as follows: - Step 2: Conduct a Situation Analysis (4) - Step 3: Identifying and Evaluating Opportunities Using STP (1) - Step 4: Implement Marketing Mix and Allocate Resources (2) - Step 5: Evaluate Performance Using Marketing Metrics (4). Additionally, STP is mentioned with a frequency of 17.

Topic: SWOT Analysis 10 What is a Marketing Strategy? 1

Updated: Feb 16, 2024
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Strategic Analysis and Growth Strategies in Business essay
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