Marketing Final Exam

Fixtures for the upper end homeowner and builder one

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Unformatted text preview: der. One of the divisions of Masco is the Delta Faucet Company, which is the leader in the faucet industry. Delta was founded in 1955. Over the decades, it has developed a legacy based on wellcrafted, high-quality products. Since the 1970s, Delta has focused its energies on building loyalty with the builder marketplace. Research in 2002 showed that while builders respected the Delta faucet for its quality, durability, and dependability, household consumers were not enamored with Delta products. Due to the number of new magazines and television programs devoted to home style, homeowners wanted faucets that were chic and stylish. This was not the image of the Delta faucet. To change its image, Delta began a marketing program in which it committed itself to developing new products to appeal to homeowners. It adopted a new slogan––“Beautifully Engineered.” 127. Refer to Delta Faucet Company. The marketing program that Delta designed to develop new products to appeal to homeowners is an example of: a. strategic planning b. a mission statement c. mass marketing d. production-oriented marketing e. tactical planning ANS: A Strategic planning is the managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities. PTS: 1 REF: 15 Thinking KEY: CB&E Model Strategy OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Application 128. Refer to Delta Faucet Company. Delta is a _____ of Masco. a. target market b. transactional division c. strategic business unit (SBU) d. share-bearing unit (SBU) e. situational business usage (SBU) ANS: C A strategic business unit (SBU) is a subgroup of a single business or collection of related businesses within the larger organization. PTS: 1 REF: 18 Thinking KEY: CB&E Model Strategy OBJ: 02-2 TOP: AACSB Reflective MSC: BLOOMS Application 129. Refer to Delta Faucet Company. Delta would most likely have gathered the information about how homeowners perceive its products through the use of a(n): a. break-even analysis b. correlation analysis c. sales potential assessment d. situation analysis e. economic forecast ANS: D A situation analysis, sometimes referred to as a SWOT analysis, identifies a firm’s internal strengths (S) and weaknesses (W) and external opportunities (O) and threats (T). PTS: 1 REF: 18 Thinking KEY: CB&E Model Strategy OBJ: 02-3 TOP: AACSB Reflective MSC: BLOOMS Application 130. Refer to Delta Faucet Company. The reputation the Delta faucet has for its quality, durability, and dependability among builders is an example of a(n): a. tactical threat b. competitive advantage c. experience curve d. economy of scale e. market differentiator ANS: B Competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superior to the competition. PTS: 1 REF: 19 Thinking KEY: CB&E Model Strategy OBJ: 02-5 TOP: AACSB Reflective MSC: BLOOMS Application 131....
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