Marketing Final Exam

Where socks armskins and gloves can be personalized

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Unformatted text preview: s can be personalized with any motif, including sponsor types of logos like Michelin, Pabst Blue Ribbon, or BP. Even kids can enjoy DeFeet’s high-quality socks. DeFeet’s products can be found in retailers across the world––in more than 20 countries like Israel, Australia, Belgium, and the United States. More than two dozen online retailers also carry DeFeet products. 113. Refer to DeFeet International. If you were to define DeFeet’s mission, which would be most appropriate? a. DeFeet makes socks. b. DeFeet makes clothes for athletes. c. DeFeet creates high-tech products for the serious athlete. d. DeFeet provides the highest-quality apparel for customers who demand the best. e. DeFeet covers the world. ANS: D The mission statement should not be so broad as answer E, as “covers” could be blankets or car covers. Yet answers A, B, and C would limit DeFeet’s business to socks, clothes, and athletic products. From the discussion above, we know that DeFeet products are made for kids, corporate sponsors, and athletes, so answer D would be the best choice. PTS: 1 REF: 17 Thinking KEY: CB&E Model Strategy OBJ: 02-1 TOP: AACSB Reflective MSC: BLOOMS Application 114. Refer to DeFeet International. What kind of competitive advantage would you say DeFeet has? a. Low cost b. Niche c. Product/service differentiation d. Product development e. Diversification ANS: C A product/service differentiation competitive advantage exists when a firm provides something unique and valuable to buyers beyond simply offering a low price. DeFeet has high-tech apparel for a variety of target groups and is not a low-cost provider, so answer C would be the best choice. PTS: 1 REF: 20 Thinking KEY: CB&E Model Strategy OBJ: 02-5 TOP: AACSB Reflective MSC: BLOOMS Application 115. Refer to DeFeet International. DeFeet branched from making socks for cyclists to making apparel for skiing, hiking, corporate sponsors, and kids. This is an example of which of Ansoff’s strategic alternatives? a. Market penetration b. Market development c. Product development d. Diversification e. Concentration ANS: D DeFeet made new products for new markets. PTS: 1 REF: 23 Thinking KEY: CB&E Model Strategy OBJ: 02-6 TOP: AACSB Reflective MSC: BLOOMS Application 116. Refer to DeFeet International. What is DeFeet’s most likely target market strategy? a. Appeal to the entire market b. Concentrate on one segment of the market c. Appeal to multiple segments d. Appeal to athletes e. Appeal to the world ANS: C DeFeet makes products for various target groups––cyclists, runners, hikers, athletic women and men, and corporate sponsors––so their appeal would be to multiple segments. PTS: 1 REF: 24 Thinking KEY: CB&E Model Strategy OBJ: 02-7 TOP: AACSB Reflective MSC: BLOOMS Application 117. Refer to DeFeet International. DeFeet’s _____ is high-tech apparel, the packaging it comes in, and the brand name, company image, and value. a. product b. place c. price d. promotion e. position ANS: A Product is the physical unit, th...
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