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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin

CHAPTER CONTENTSPAGE

POWERPOINT RESOURCES TO USE WITH LECTURES...........................................2-2

LEARNING OBJECTIVES (LO)..........................................................................................2-4

KEY TERMS...........................................................................................................................2-4

LECTURE NOTES

Chapter Opener: Can an “A” in an Ice Cream Making Course Really Become a Business?...................................................................................................................2-5

Today’s Organizations (LO1; LO2).............................................................................2-5

Setting Strategic Directions (LO3)..............................................................................2-12

The Strategic Marketing Process (LO4; LO5; LO6)..................................................2-17

APPLYING MARKETING KNOWLEDGE......................................................................2-22

BUILDING YOUR MARKETING PLAN..........................................................................2-25

VIDEO CASE (VC)

VC 2: BP: Transforming Its Strategy “Beyond Petroleum”........................................2-29

SUPPLEMENTAL LECTURE NOTES (SLN)

SLN 2-1: “SMART” Objectives..................................................................................2-34

SLN 2-2: Marketing vs. Business Plans.......................................................................2-35

SLN 2-3: The Chief Marketing Officer (CMO)...........................................................2-36

IN-CLASS ACTIVITIES (ICA)

ICA 2-1: How Far Can General Mills Go with Line and Brand Extensions?..............2-37

ICA 2-2: Marketing Yourself.......................................................................................2-41

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POWERPOINT RESOURCES TO USE WITH LECTURES1

PowerPointTextbook Figures Slide2

Figure 2-1 Visionary organizations: (1) establish a foundation, (2) set a direction, and (3) create strategies to successfully develop and market their offerings (p. 22)..............................2-6

Figure 2-2 An effective marketing dashboard like Oracle’s helps managers assess a business situation at a glance (p. 25)............................................................................................2-13

Figure 2-3 The board of directors oversees the three levels of strategy in organizations:corporate, business unit, and functional (p. 27)..............................................................2-15

Figure 2-4 Boston Consulting Group business portfolio analysis for Kodak’s consumer-relatedSBUs as they appeared in 2003 (solid circle) and might appear in 2011 (hollow circle) (p. 30)....................................................................................................2-19

Figure 2-5 Four market-product strategies for Ben & Jerry’s to expand sales revenues using diversification analysis (p. 32)........................................................................................2-20

Figure 2-6 The strategic marketing process has three phases: planning, implementation,and evaluation (p. 33).....................................................................................................2-22

Figure 2-7 Ben & Jerry’s SWOT analysis that serves as the basis for management actions regarding growth (p. 34)................................................................................................2-25

Figure 2-8 The elements of the marketing mix must be blended to produce a cohesive marketing program (p. 36)...............................................................................................................2-30

Figure 2-9 Organization of a typical manufacturing firm, showing a breakdown of the marketing department (p. 37).........................................................................................2-32

Figure 2-10 The evaluation phase requires that Kodak compare actual results with goals to identify and act on deviations to fill in the “planning gap” by 2010 (p. 38)...............................2-34

Marketing DashboardHow Well is Ben & Jerry’s Doing?: Dollar Sales and Dollar Market Share (p. 26)..........................2-14

Selected Textbook Images of Ads, Photos, and Products for Lecture NotesChapter Opener: Photo of Ben Cohen and Jerry Greenfield and website screen grab ofBen & Jerry’s social mission statement (p. 20)...................................................................................2-4

Photo of the Starship Enterprise from the original Star Trek TV series and its mission statement: Why is a mission statement important? (p. 23)..................................................................................2-8

Photo of Medtronic’s “Rising Figure” mural: What does it signify to stakeholders? (p. 23).............2-9

Photo of a railroad train: What do we do? What business are we really in? (p. 24).........................2-10

Video Case 2: Photos of the BP’s Ann Hand, the Helios House gasoline station, and the helios logo (pp. 41-43).........................................................................................................2-35

1 For each PowerPoint presentation resource listed here and below, the page reference (p. x) or [p. y] in the textbook where the figure or image is located, the SLN can be presented, or the ICA can be conducted.

2 The slide number references are for the “media rich” PowerPoint presentation for this chapter, which is available only on the Instructor’s Presentation CD-ROM #1. A “basic” PowerPoint presentation for this chapter that has only textbook figures and image slides can be downloaded from the Marketing: The Core 3/e website (see www.mhhe.com/kerin). A set of selected “narrated” PowerPoint slides for this chapter that can be played on a MP3 player can also be downloaded from the website.

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http://www.mhhe.com/business/marketing/kerin/index.html


POWERPOINT RESOURCES TO USE WITH LECTURES

PowerPointSupplemental Textbook Image SlidePhotos of three CMOs [p. 27].............................................................................................................2-46

Supplemental Lecture Note (SLN) FigureSLN 2-2: Figure 2-A Elements in typical marketing and business plans targeted at different

audiences [pp. 26, 44-45]...................................................................................................2-44

In-Class Activity (ICA) Images of Products, Ads, and Handouts3

ICA 2-1: Cheerios® (1941) and Fruity Cheerios® (2006) [pp. 31-32; 251]........................................2-56

ICA 2-1: Finding Line and Brand Extensions for Cheerios® Handout [pp. 31-32; 251]...................2-57

ICA 2-1: Some Cheerios® Line Extensions [pp. 31-32; 251].............................................................2-58

ICA 2-1: Some Cheerios® Brand Extensions [pp. 31-32; 251]..........................................................2-59

ICA 2-2: TV ad for Yahoo!/HotJobs [pp. 26, 32-38; TRT = 0:30]....................................................2-54

ICA 2-2: Marketing Yourself Handout (1) and (2) [pp. 26, 32-38]

ICA 2-2: The Do-It Myself Marketing Plan Worksheet (1) and (2) [pp. 26, 32-38]

ICA 2-2: Sample Cover Letter [pp. 26, 32-38]...................................................................................2-55

ICA 2-2: Sample Résumé [pp. 26, 32-38]..........................................................................................2-56

Excel SpreadsheetHow Well is Ben & Jerry’s Doing?: Dollar Sales and Dollar Market Share (p. 26)..........................2-14

3 In-Class Activity (ICA) lecture notes and PowerPoint presentations are available on the Instructor’s Presentation CD-ROM #1 as well as the ICA CD located in the Marketing: The Core 3/e Instructor’s Survival Kit (ISK) box.

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LEARNING OBJECTIVES (LO)

After reading this chapter students should be able to:

LO1: Describe the core values, mission, organizational culture, business, and goals of an organization.

LO2: Explain why managers use marketing dashboards and marketing metrics to evaluate a marketing program.

LO3: Discuss how an organization assesses where it is now and seeks to be in the future.

LO4: Explain the three steps of the planning phase of the strategic marketing process.

LO5: Describe the four components of the implementation phase of the strategic marketing process.

LO6: Discuss the two aspects of the evaluation phase of the strategic marketing process.

KEY TERMS

business p. 24 mission p. 23

core values p. 22 objectives p. 24

goals p. 24 organizational culture p. 23

market segmentation p. 34 points of difference p. 35

market share p. 24 profit p. 22

marketing dashboard p. 25 situation analysis p. 32

marketing metric p. 25 strategic marketing process p. 32

marketing plan p. 26 strategy p. 22

marketing strategy p. 37 SWOT analysis p. 33

marketing tactics p. 37

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LECTURE NOTES

CHAPTER OPENER: CAN AN “A” IN AN ICE CREAM MAKING COURSE REALLY BECOME A BUSINESS?

Entrepreneurs Ben Cohen and Jerry Greenfield “aced” their $5 college course in ice cream making and headed to Vermont in 1978 to start Ben & Jerry’s. Some facts about their company, which was acquired by Unilever in 2000:

Buys milk products from dairy cooperatives that are bovine growth hormone free.

Offers Fair Trade Certified™ flavors to support small family farms in developing countries through fair prices and eco-friendly farming.

Its PartnerShop, Scoopers Making Change, and Cones 2 Career programs help nonprofit organizations give jobs to and train at-risk youth.

Markets several product lines: Lighten Up! low carb/fat ice cream, sorbets, waffle cones, ice cream sandwiches, etc.

Its new product lines include the John Lennon inspired “Imagine Whirled Peace™”ice cream pints and milk shake flavors in addition to frozen yogurts, sorbets, smoothies, cakes, and waffle cones.

The Ben & Jerry’s website reflects its creative, funky approach to business—linking its prosperity to a concern for social causes.

I. TODAY’S ORGANIZATIONS [LO1]

In today’s global marketplace, it is important to recognize how strategy is related to an organization’s industry and structure:

A. Strategy and Visionary Organizations

An organization is a legal entity of people who share a mission.

Organizations develop offerings, which are products, services, or ideas that create value for both the organization and its customers.

Organizations that develop similar offerings, when grouped together, create an industry, such as the ice cream industry.

Organizations must clearly understand what industry they compete within.

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Organizations consist of two types:

1. A business firm is a privately owned organization that serves its customers in order to earn a profit.

a. One goal of a business firm is profit, which is the:

Money left after a business firm’s total expenses are subtracted from its total revenues or sales.

Reward for the risk it undertakes in marketing its offerings.

b. Business firms must earn a profit to survive.

2. A nonprofit organization is a nongovernmental organization that serves its customers but does not have profit as an organizational goal.

a. Goals of nonprofit organizations include operational efficiency or client satisfaction.

b. Examples of nonprofit organizations include charities and cooperatives.

The terms firm, company, corporation, and organization are used interchangeably to cover both business and nonprofit operations.

An organization has limited human, financial, technological, and other resources available to produce and market its offerings—it can’t be all things to all people!

Strategy is organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals.

1. All organizations set a strategic direction.

2. Marketing helps to set a strategic direction and to move the organization there.

Successful organizations must be visionary—anticipating and responding quickly and effectively to future events.

A visionary organization:

1. Specifies its foundation (the ‘why’).

2. Sets a direction (the ‘what’).

3. Formulates strategies (the ‘how’).

B. Organizational Foundation

An organization’s foundation is its philosophical reason for being—why it exists.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin An organization’s foundation rarely changes, regardless of the environment or latest

strategy planning fad.

Successful visionary organizations use this foundation to guide and inspire its employees through its core values, mission, and organizational culture.

1. Core Values. Are the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.

a. Are developed by an organization’s founders or senior management and are consistent with their essential beliefs and character.

b. Capture the collective heart and soul of the organization and serve to inspire and motivate its stakeholders to take productive action.

c. Held by or communicated to stakeholders of an organization, which consist of its employees, shareholders, board of directors, suppliers, distributors, creditors, unions, government, local communities, and customers.

d. Are timeless and should not change due to short-term financial, operational, or strategic concerns.

e. Guide the organization’s conduct.

f. Must be supported by the chief executive officer and board of directors.

2. Mission. By understanding its core values, an organization can define its mission, a statement of the organization’s function in society, often identifying its customers, markets, products, and technologies.

a. Is often used interchangeably with vision.

b. A mission statement should be clear, concise, meaningful, inspirational, and long-term.

c. Star Trek has one of the best-known mission statements:

“To explore strange new worlds, to seek out new life and new civilizations, to boldly go where no one has gone before.”

d. Some organizations, such as Ben & Jerry’s, add a social element to their mission statements to reflect moral ideals.

3. Organizational Culture.

a. An important corporate-level marketing function is communicating its core values and mission to its stakeholders.

b. An organizational culture is the set of values, ideas, attitudes, and norms of behavior that is learned and shared among the members of an organization.

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C. Organizational Direction

Figure 2–1 shows that the organization’s foundation enables it to set a direction, in terms of (1) the “business it is in” and (2) its specific goals.

1. Business. A business describes the clear, broad, underlying industry or market sector of an organization’s offering.

a. An organization can define its business by looking at the set of organizations that sell similar offerings—those that are in direct competition with each other.

b. The organization answers these questions, “What do we do?” or “What business are we in?”

c. Harvard professor Theodore Levitt Marketing Myopia article states that organizations must not define their business and customer focus too narrowly. Some examples:

Railroads are in the “transportation” business, not the railroad business.

Medtronic is in the “healthcare” business, not the medical device business.

2. Goals. Goals or objectives (used interchangeably) are statements of an accomplishment of a task to be achieved, often by a specific time.

a. Goals convert the organization’s mission and business into performance targets to measure how well it is doing.

b. Business firms pursue several different types of goals:

Profit. According economic theory, a firm seeks the highest return on its investment or ROI as possible.

Sales (dollars or units). A firm may elect to maintain or increase sales even though profitability may not be maximized.

Market share. A firm may choose to maintain or increase its market share, which is the ratio of sales revenue of the firm to the total sales revenue of all firms in the industry, including the firm itself.

Quality. A firm may choose to focus on high quality.

Customer satisfaction. Customers are the reason an organization exists. Can monitor their satisfaction through surveys or complaints.

Employee welfare. Employees play a critical role in the firm’s success and therefore state its commitment to good employment opportunities and working conditions.

Social responsibility. A firm may seek to balance conflicting goals of consumers, employees, and stockholders to promote overall welfare of all these groups, even at the expense of profits.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerinc. Nonprofit organizations also set goals:

Private organizations strive to serve customers efficiently.

Government agencies try to serve the public good.

[SLN: 2-1: “SMART” Objectives]

LEARNING REVIEW

1. What is the difference between a business firm and a nonprofit organization?

Answer: A business firm is a privately owned organization that serves its customers in order to earn a profit so that it can survive. A nonprofit organization is a nongovernmental organization that serves its customers but does not have profit as an organizational goal. Instead, its goals may be operational efficiency or client satisfaction.

2. What is the meaning of an organization’s mission?

Answer: A mission is a statement of the organization’s function in society, often identifying its customers, markets, products, and technologies. Often used interchangeably with vision.

3. What are examples of an organization’s goals?

Answer: Goals for business firms include profits, sales, market share, quality, customer satisfaction, employee welfare, and social responsibility. Nonprofit organizations often seek to serve consumers as efficiently as possible. Government agencies seek to serve the public good.

D. Tracking Strategic Directions with Marketing Dashboards [LO2]

Marketing dashboards allow marketing managers to know whether they are making progress regarding their strategic direction.

1. Car Dashboards and Marketing Dashboards.

a. A marketing dashboard is the visual display on a single computer screen of the essential information related to achieving a marketing objective.

b. A marketing dashboard can also be an Internet-based display with real-time information, and active hyperlinks to provide further detail.

c. On a car’s dashboard, we glance at the fuel gauge and take action when our gas is getting low.

d. With a marketing dashboard, a marketing manager glances at a graph or table and makes a decision whether to:

Take action.

Do more analysis to understand the problem better.

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2. Dashboards, Metrics, and Plans.

a. Oracle’s marketing dashboard in Figure 2–2 shows graphic displays of key measures of a product category’s performance, such as sales, cost of sales, and percent margin.

b. Each performance variable is a marketing metric, a measure of the quantitative value or trend of a marketing activity or result.

c. Only a few metrics should be shown on a marketing dashboard so that managers aren’t overwhelmed with too much information.

USING MARKETING DASHBOARDS

Just How Well is Ben & Jerry’s Doing?

Dollar Sales and Dollar Market Share

Marketers use the common sales and market share metrics to measure the performance of their organization’s offerings in the marketplace.

Your Challenge.

The marketing manager for Ben & Jerry’s, you have been asked to provide a snapshot of the firm’s total super premium ice cream product line performance for the United States. You choose the following marketing metrics: dollar sales and dollar market share.

Information Resources, Inc. (IRI), a provider of scanner data from grocery stores and other retailers, reports that the total ice cream sales for 2007 were $25 billion. Of that total,5 percent—or $1.25 billion (0.05 × $25 billion)—comprise the super premium category—the segment of the market that Ben & Jerry’s competes in.

The Ben & Jerry’s sales department reports that the firm sold 50 million units at an average price of $5.00 per unit, resulting in total dollar sales of $250 million:

Your Findings. Dollar sales and dollar market share metrics are calculated as follows:

[See CH02SalesMktShare.xls]

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-KerinYour Action.

These results need to be compared with the goals established for these metrics.

These results also should be compared with previous years’ results to see if the trends are increasing, flat, or decreasing.

Marketers also find it useful to calculate market share based on units sold, if data are available.

d. Most organizations tie the marketing metrics tracked on their marketing dashboards to the quantitative objectives in their marketing plans.

e. A marketing plan is a road map for the marketing activities of an organization for a specified future period of time, such as one year or five years.

f. Appendix A provides guidelines for writing a marketing plan .

[SLN: 2-2: Marketing vs. Business Plans]

E. Organizational Structure and Strategies

Figure 2–3 shows that goals get converted into organizational strategies at the corporate, strategic business unit, and functional levels:

Corporate Level. Is the level in an organization where top management directs overall strategy for the entire organization. Consists of the:

a. Board of directors, individuals both inside and outside the organization.

b. Chief executive officer (CEO), the highest ranking officer in the organization.

c. Chief marketing officer (CMO), who is responsible to frame and implement the organization’s strategy to achieve its goals.

[SLN: 2-3: The Chief Marketing Officer (CMO)]

Strategic Business Unit Level. Multimarket, multiproduct firms manage a portfolio of businesses called strategic business units.

a. A strategic business unit (SBU) refers to a subsidiary, division, or unit of an organization that markets a set of related offerings to a clearly defined group of customers.

b. At the strategic business unit level, managers set a more specific strategic direction for their businesses to exploit value-creating opportunities.

c. For firms with a single business focus such as Ben & Jerry’s, the corporate and business unit levels may merge.

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Functional Level. Is the level in an organization where groups of specialists actually create value for the organization.

a. A department refers to those specialized functions, such as marketing.

b. At this level, the strategic direction becomes more specific and focused.

LEARNING REVIEW

4. What is the difference between a marketing dashboard and a marketing metric?

Answer: A marketing dashboard is the visual display of the essential information related to achieving a marketing objective. Each variable in a marketing dashboard is a marketing metric, which is a measure of the quantitative value or trend of a marketing activity or result.

5. Explain what a marketing plan is.

Answer: A marketing plan is a road map for the marketing activities of an organization for a specified future period of time.

6. Describe the three levels in an organization.

Answer: An organization consists of three levels—corporate, business unit, and functional. The corporate level is where top management directs overall strategy for the firm. At the business unit level, managers set a more specific strategic direction for their businesses to exploit value-creating opportunities. At the functional level, the firm’s strategic direction becomes its most specific and focused.

II. SETTING STRATEGIC DIRECTIONS [LO3]

Setting strategic directions involves answering two questions:

Where are we now?

Where do we want to go?

A. A Look Around: Where Are We Now?

Asking an organization where it is at the present time involves identifying its customers, competencies, and competitors.

1. Competencies. Answers the question, “What do we do best?”

a. An organization’s core competencies are special capabilities—skills, technologies, and resources—that distinguish it from other organizations and provide value to its customers.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerinb. Competencies should be distinctive enough to provide a competitive advantage,

a unique strength relative to competitors, often based on quality, time, cost, or innovation.

2. Customers. Strategy must provide genuine value and benefits to present and prospective customers to ensure they have a satisfying customer experience.

3. Competitors. Globally, the lines among competitive sectors are increasingly blurred. For example:

a. Lands’ End started as a catalog retailer and defined other catalog retailers as its competitors.

b. Now part of Sears, Lands’ End, competes with not only other catalog clothing retailers but also department stores, mass merchandisers, specialty shops, Internet sellers, and even itself with departments within Sears.

B. Growth Strategies: Where Do We Want to Go?

Knowing where the organization is at the present time enables managers to set a direction for the firm and allocate resources to move in that direction.

Two techniques are (1) business portfolio analysis and (2) diversification analysis.

1. Business Portfolio Analysis.

a. The Boston Consulting Group’s (BCG) uses business portfolio analysis to quantify performance measures and growth targets to analyze a firm’s SBUs as though they were a collection of separate investments.

The tool’s purpose is to determine whether each SBU or offering is sufficiently appealing to receive a cash infusion.

This BCG analysis can also be applied at the product line, individual product (offering), or brand level.

Many large U. S. firms have used the BCG’s business portfolio analysis.

b. A firm using business portfolio analysis positions each of its SBUs on a growth-share matrix (see Figure 2–4).

The vertical axis is the market growth rate, which is the annual rate of growth of the SBU’s industry.

The horizontal axis is the relative market share, defined as the sales of the SBU divided by the sales of the largest firm in the industry.

– A relative market share of 10 (at the left end of the scale) means that the SBU has 10 times the share of its largest competitor.

– A share of 0.1 (at the right end of the scale) means it has only 10 percent of the share of its largest competitor.

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The area of the circles in a growth-share matrix is proportional to the corresponding SBU’s annual sales.

c. BCG has given names and descriptions to the four resulting quadrants in its growth-share matrix based on the amount of cash they generate for or require from the firm:

Cash cows (lower left). SBUs that generate large amounts of cash than can be invested in other SBUs.

– Have a dominant share of slow-growth markets.

– Provides cash to cover the organization’s overhead.

Stars (upper left).

– Are SBUs with a high share of high-growth market that need extra cash to finance future growth.

– Are likely to become cash cows when their growth slows.

Question marks or problem children (upper right). Are SBUs with a low share of high-growth markets.

– Require lots of cash to maintain or increase market share.

– Management must choose which SBUs to invest in and phase out the rest.

Dogs (lower right). SBUs with a low share of slow-growth markets.

– May generate enough cash to sustain themselves but do not hold promise of becoming winners for the firm.

– Management must consider dropping dogs unless relationships with other SBUs, competition, or potential strategic alliances exist that benefit the firm.

d. A firm’s SBUs often start as question marks and go counterclockwise around Figure 2–4 to become stars, then cash cows, and finally dogs.

e. When changing an SBU’s relative market share, management must decide what strategic role each SBU should have in the future and then inject or remove cash from it.

f. Four Kodak SBUs are depicted as of early 2003 in Figure 2–4. Its growth-share matrix shows the challenge Kodak faced in the camera and film business with the arrival of digital technology:

Kodak relied heavily on film sales for the bulk of its revenues and profits from the billions of photos taken annually—not cameras.

In 2003, Kodak shifted its strategy from film to digital technology.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin Below is a snapshot of four product lines that were affected by the shift to a

digital strategy:

1. Kodak film.

– Was an $8 billion cash cow but film sales are declined to $500 million by 2008, making it a dog!

– Kodak expects sales to stabilize at this level for the future.

2. Kodak digital cameras.

– Sales of digital cameras grew 24 percent from 2006 to 2007 due to falling prices.

– Sales may slow because 77 percent of U.S. households now have a digital camera.

– Kodak digital cameras are number three in market share behind Canon and Sony.

– Kodak expects this SBU to continue to be a star since it plans to introduce new models.

– However, it may become a cash cow if the market consists of mainly replacement sales at even lower prices.

3. Kodak ink-jet printers and cartridges to print digital photos at home.

– In 2007, about half of digital camera owners printed their images at home.

– In 2007, Kodak launched a line of multipurpose machines to print high-quality photos, make copies, and send faxes.

– This product line SBU could be either a star, because of the growth potential, a question mark because of huge market leader HP, or a dog, if consumers don’t buy the items.

4. Kodak digital picture frames.

– In 2007, Kodak introduced a line of digital picture frames that allow consumers to store and view digital images.

– In 2006, global demand was a paltry 2.8 million units but in 2007 it exploded to 8.6 million units.

– By 2011, sales are expected to reach 42 million units—a star!

g. Business portfolio analysis strength: Forces a firm to place each of its SBUs in the growth-share matrix that suggests which SBUs will be future cash producers and users.

h. Business portfolio analysis weaknesses: Is often difficult to get and incorporate the needed competitive information.

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2. Diversification Analysis.

a. Market-product grid analysis covered in Chapter 9 shows firms often view growth opportunities in terms of markets and products.

b. This idea underlies diversification analysis, which is the search for growth opportunities from among current and new markets as well as current and new products.

For any market there is both a current product (what the firm now sells) and a new product (something the firm might sell in the future).

For any product there is both a current market (existing customers) and a new market (potential customers).

[ICA: 2-1: How Far Can General Mills Go with Line and Brand Extensions]

c. This results in four market-product strategies (Figure 2–5):

Market penetration. Involves a marketing strategy to increase sales of present products in existing markets.

There is no change in the basic product line or the market served. Increased sales to existing customers are possible either by selling:

– More of the product through better promotion or distribution.

– The same amount of the product at a higher price.

Market development. Involves selling existing products to new markets, which is risky if the firm has no experience selling in the new market.

Product development. Involves selling a new product to existing markets. This strategy is risky because customers may not see a clear connection between a company’s expertise in one offering transferring to another.

Diversification. Involves developing new products and sell them in new markets. This is a potentially high-risk strategy because the company has neither previous production nor marketing experience on which to draw.

LEARNING REVIEW

7. What is business portfolio analysis?

Answer: Business portfolio analysis quantifies performance measures and growth targets to analyze a firm’s strategy business units (SBUs) as though they were a collection of separate investments.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin8. Explain the four market-product strategies in diversification analysis.

Answer: The four market-product strategies in diversification analysis are:

Market penetration. There is no change in either the basic product line or the markets served. Rather, increased sales are generated by selling more of the product or selling the product at a higher price (present markets, present products).

Market development. Existing products are sold to new markets (new markets, present products).

Product development. New products are sold to existing markets (present markets, new products).

Diversification. A potentially high-risk strategy, new products are sold in new markets (new markets, new products).

III. THE STRATEGIC MARKETING PROCESS

After the organization assesses where it’s at and where it wants to go, it asks:

1. How do we allocate our resources to get to where we want to go?

2. How do we convert our plans into actions?

3. How do our results compare with our plans, and do deviations require new plans?

The approach used is the strategic marketing process, whereby an organization allocates its marketing mix resources to reach its target markets.

This process is divided into three phases: planning, implementation, and evaluation.

A. The Planning Phase of the Strategic Marketing Process [LO4]

The planning phase consists of three steps as outlined below.

1. Step 1: Situation (SWOT) Analysis.

a. A situation analysis involves taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization’s plans and the external factors and trends affecting it.

b. A SWOT analysis is an acronym describing an organization’s appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats.

[ICA: 2-2: Marketing Yourself]

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c. A SWOT analysis studies four areas of the planning phase and helps form a firm’s marketing program:

Identifying trends in the firm’s industry.

Analyzing the firm’s competitors.

Assessing the organization itself.

Researching the organization’s present and prospective customers.

d. The Ben & Jerry’s SWOT analysis table in Figure 2–7 has four cells formed by the combination of internal versus external factors (the rows) and favorable versus unfavorable factors (the columns) that summarize Ben & Jerry’s strengths, weaknesses, opportunities, and threats.

e. The Ben & Jerry’s SWOT analysis suggests the following:

Build on a strength. Find distribution efficiencies with Unilever’s existing ice cream brands.

Correct a weakness. Recruit experienced managers from other consumer products firms to help stimulate growth.

Exploit an opportunity. Develop a new line of low-fat frozen yogurts to respond to consumer health concerns.

Avoid a disaster-laden threat. Focus on less risky international markets, such as Canada and Mexico.

2. Step 2: Market-Product Focus and Goal Setting.

a. Developing a marketing program involves determining what products will be targeted at which customers.

b. This decision often based on market segmentation, which involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action.

c. A firm can identify the segments on which it will focus its efforts—its target market segments—and develop specific marketing programs to reach them.

d. Goal setting involves setting measurable marketing objectives to be achieved.

For a specific market, the goal may be to introduce a new product.

For a specific brand or product, the goal may be to create a promotional campaign or pricing strategy to get more consumers to purchase.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerine. Medtronic’s 5-year plan for its Champion heart pacemaker is to reach the

“affordable and reliable” Asian segments:

Set marketing and product goals. Design and market such a pacemaker in three years for the Asian market.

Select target markets. The Champion pacemaker will be targeted at cardiologists and medical clinics in India, China, and other Asian countries.

Find points of difference. Points of difference are those characteristics of a product that make it superior to competitive substitutes. For the Champion pacemaker, they are high quality, long life, reliability, ease of use, and low cost, NOT state-of-the-art features that drive up production costs.

Position the product. The pacemaker will be “positioned” in cardiologists’ and patients’ minds as a medical device that is high quality and reliable with a long, nine-year life. The name “Champion” was selected after testing acceptable names in Asia.

3. Step 3: Marketing Program.

a. This step is the “how” aspect of the planning phase: developing the marketing program’s marketing mix and the budget.

b. Figure 2–8 shows the components of each marketing mix element that comprise a cohesive marketing program.

c. Example: Medtronic’s Champion heart pacemaker.

Product strategy. Offer a Champion brand pacemaker with features needed by Asian patients.

Price strategy. Manufacture the Champion to control costs to price it below $1,000 (U.S.).

Promotion strategy. Demonstrate the Champion at cardiologist conventions.

Place (distribution) strategy. Search out and train reputable medical distributors across Asia to call on cardiologists and medical clinics.

d. Putting a marketing program into effect requires the development of a sales forecast and a budget that is approved by top management.

LEARNING REVIEW

9. What is market segmentation?

Answer: Market segmentation involves aggregating prospective buyers into groups, or segments, that (1) have common needs and (2) will respond similarly to a marketing action.

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10. What are points of difference and why are they important?

Answer: Points of difference are those characteristics of a product that make it superior to competitive substitutes. They are the single most important factor in the success or failure of a new product.

B. The Implementation Phase of the Strategic Marketing Process [LO5]

The second phase of the strategic marketing process involves carrying out the marketing plan that emerges from the planning phase.

The implementation phase has four components:

1. Obtaining Resources. The marketing manager must obtain the people and money necessary to succeed.

2. Designing the Marketing Organization. A marketing program needs a marketing organization to implement it and to convert marketing plans into reality.

a. The product or brand managers and their subordinates help plan, implement, and evaluate the marketing plans for their offerings.

b. The entire marketing organization is responsible for converting these marketing plans to reality as part of the corporate marketing team.

3. Developing Planning Schedules. To implement marketing plans, members of the marketing department must:

a. Hold meetings to identify the tasks that needed to be done.

b. Identify the tasks that needed to be done.

c. Determine the time you can reasonably allocate to each one.

d. Identify the people responsible.

e. Establish the deadlines for their accomplishment.

4. Executing the Marketing Program. The effective execution of a marketing plan requires attention to detail for both marketing strategies and marketing tactics.

a. A marketing strategy is the means by which a marketing goal is to be achieved, usually characterized by a specified target market and a marketing program to reach it.

b. Marketing tactics are detailed day-to-day operational decisions essential to the overall success of marketing strategies.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-KerinC. The Evaluation Phase of the Strategic Marketing Process [LO6]

The evaluation phase of the strategic marketing process seeks to keep the marketing program moving in the direction set for it.

It requires the marketing manager to focus on two key elements:

1. Comparing Results with Plans to Identify Deviations. This reveals a wedge-shaped planning gap, which is the difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place.

a. The ultimate purpose of the firm’s marketing program is to “fill in” this planning gap.

b. Good or poor performance can result in actual sales revenues being above or far less than the targeted levels, which requires managers to take actions.

2. Acting on Deviations. When evaluation shows that actual performance fails to meet expectations, managers need to take corrective actions by:

a. Exploiting a positive deviation. When actual results are far better than the plan called for, managers find ways to exploit the situation.

b. Correcting a negative deviation. When actual performance fails to meet expectations, managers need to modify elements of the marketing mix to develop a new marketing program for the offering.

LEARNING REVIEW

11. What is the implementation phase of the strategic marketing process?

Answer: This is the phase that involves carrying out the marketing plan that emerges from the planning phase. The implementation phase consists of: (1) obtaining resources;(2) designing the marketing organization; (3) developing planning schedules; and(4) executing the marketing program designed in the planning phase.

12. How do the goals set for a marketing program in the planning phase relate to the evaluation phase of the strategic marketing process?

Answer: The planning phase goals are used as the benchmarks with which the actual performance results are compared in the evaluation phase.

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APPLYING MARKETING KNOWLEDGE

1. (a) Using Medtronic as an example, explain how a mission statement gives a strategic direction to its organization. (b) Create a mission statement for your own career.

Answers:

a. Explain how a mission statement gives a strategic direction to its organization.A mission statement is an expression of the organization’s function in society, often identifying its customers, markets, products, and technologies. Medtronic’s mission statement is “to contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.” The “rising mural” in its headquarters powerfully communicates the inspiration and focus of its mission to its stakeholders: employees, doctors, and patients alike. Moreover, it appears on a medallion that is presented to each new employee. Finally, each December five or six patients and their physicians describe to assembled employees how Medtronic products have changed their lives. These activities send clear messages to employees and other stakeholders about Medtronic’s strategic direction.

b. Create a mission statement for your own career. An example of a mission statement for a student’s career might be: “To be recognized as an outstanding, ethically and environmentally responsible, global marketing executive.”

2. What competencies best describe (a) your college or university and (b) your favorite restaurant?

Answers:

a. Your college or university. [NOTE: These vary along a continuum from community colleges to research universities.] Flexible course scheduling to accommodate the special needs of part-time and working students. A world-class research institution for biotechnology; student-oriented faculty.

b. Your favorite restaurant. Genuine French cuisine. A family menu at a reasonable price.

3. Why does a product often start as a question mark and then move counterclockwise around BCG’s growth-share matrix shown in Figure 2–4?

Answer: When a product is introduced, it is usually a “question mark” because it is “new” and there is uncertainty about consumers’ acceptance of them. After a period of time, depending on the product category, the “not-so-new” product could be classified as a “star” if its growth rate is sizeable and has a significant share of the product category. If the growth rate in the product category falls substantially and there is great competition from competing brands, the product probably will fall in the “cash cow” category. If, however, the product isn’t supported with an effective marketing program, it could become a “dog.”

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin4. What is the main result of each of the three phases of the strategic marketing process?

(a) planning, (b) implementation, and (c) evaluation.

Answers:

a. Planning phase. Results are formal marketing plans that identify specific objectives to be achieved by a particular time and the specific actions to achieve those objectives.

b. Implementation phase. Results are formal measurements of the results achieved, which can be compared with the plans established in the planning phase to determine if any deviations from plans occurred.

c. Evaluation phase. Results are new actions taken to exploit opportunities where deviations from plans are better than expected or to take corrective actions where deviations from plans are worse than expected.

5. Select one strength, one weakness, one opportunity, and one threat from the SWOT analysis for Ben & Jerry’s shown in Figure 2–7. Suggest a single action that a Ben & Jerry’s marketing manager might take to address each factor.

Answers:

a. Strength. Leverage its brand name by continuing to offer crazy new flavors, products (ice cream, yogurt, sorbet, low-fat/carb, etc.). Promote its social mission in college campus newspapers in cities where Ben & Jerry’s is sold, either in its own outlets or in grocery stores.

b. Weakness. Communicate the benefits of Ben & Jerry’s social mission (number of people employed, trained, etc.). Develop and implement a management trainee program for those employees willing to make a long-term commitment to the firm.

c. Opportunity. Develop partnerships or franchise relationships with firms or individuals in markets where Ben & Jerry’s has not yet fully penetrated, such as South America, Australia, etc. where ice cream consumption is moderate to strong. Also, develop ice cream-based products, such as ice cream sandwiches, cookies, cakes, etc.

d. Threat. Offer low-carb products with Splenda or other sugar substitutes. Find lower cost but socially responsible “Fair Trade” suppliers and manufacturers in overseas markets where consumers are more price-sensitive due to less incomes to spend on discretionary products like super premium ice cream.

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6. The goal-setting step in the planning phase of the strategic marketing process sets quantified objectives for use in the evaluation phase. What does a manager do if measured results are below objectives? Above objectives?

Answers:

If the marketing manager discovers a planning gap, which is a difference between the projection of the path to reach a new goal and the projection of the path of the results of a plan already in place for the marketing program, he or she can take the following actions:

a. Below objectives. Correct a negative deviation by making minor or major changes to the existing marketing program of a product to better reflect future expectations in the marketing environment.

b. Above objectives. Exploit a positive deviation by strengthening strategic partnerships, engage in a market development or product development strategy, etc. to maintain or enhance the firm’s position.

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BUILDING YOUR MARKETING PLAN

1. Read Appendix A, “Building an Effective Marketing Plan.” Then write a 600-word executive summary for the Paradise Kitchens marketing plan using the numbered headings shown in the plan. When you have completed the draft of your own marketing plan, use what you learned in writing an executive summary for Paradise Kitchens to write a 600-word executive summary to go in the front of your own marketing plan.

Suggestions: In Question #1, students are asked to write a 600-word executive summary for the Paradise Kitchens marketing plan in Appendix A. This gives them a chance to practice a draft of an executive summary for their own marketing plan. A 600-word executive summary for the Appendix A marketing plan appears below.

FIVE-YEAR MARKETING PLAN FOR PARADISE KITCHENS, INC.

1. Executive Summary

2. Company Description

Paradise Kitchens was started in 1989 to develop and market Howlin’ Coyote Chili.

3. Strategic Focus and Plan

Three key aspects of the company’s corporate strategy:

Mission/Vision. Howlin’ Coyote Chili intends to market the highest-quality line of single serve and microwaveable Southwestern/Mexican-style frozen chili products.

Goals.

a. Nonfinancial goals include: retaining its high quality image; entering 17 new metropolitan markets; achieving nationwide distribution in two convenience store or supermarket chains by 2008 and five by 2009; adding a new product line every third year; and being among the top five chili lines in one-third of the metro markets in which it competes by 2009 and two-thirds by 2011.

b. Financial goals include: achieving a real growth in earnings per share of 8 percent per year over time; obtaining a return on equity of at least 20 percent; and having a public stock offering by 2009.

Core Competency and Sustainable Advantage. Paradise Kitchens seeks to(1) provide distinctive, high-quality chili and related products using Southwestern/Mexican recipes that appeal to and excite contemporary tastes and(2) use effective manufacturing and distribution systems that maintain high quality standards to deliver its products to consumers.

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4. Situation Analysis

An analysis of Paradise Kitchens’ marketing environment reveals:

SWOT Analysis. The Company’s favorable internal factors are an experienced management team, excellent acceptance in its three metropolitan markets, and a strong manufacturing and distribution system. Favorable external factors include increasing appeal of Southwestern/Mexican foods, a strong upscale market for the Company’s products, and a desire for convenience. The main weaknesses are Paradise Kitchens’ small size relative to its competitors in terms of depth of management team, its limited financial resources to respond to growth opportunities and competitive actions, lack of national awareness and distribution of product lines, and lack of food processing expertise. Threats include the danger that the Company’s premium prices may limit access to mass markets and competition from the eat-out and take-out markets.

Industry Analysis. There is a rising trend in frozen foods in general and spicy and Mexican foods in particular. The Mexican entree market represents over $506 million in annual sales of the $29 billion total frozen food sales due in part to the increase of the Hispanic population in the U. S., which reached 44 million and almost $800 billion in purchasing power in 2007.

Competitors in the Chili Market. The chili market is also a $500 million market in the U.S. and is divided into two segments: canned chili, sold by Hormel, Dennison, Campbell’s, and others (75%), and dry chili, sold by Lowry’s, Stagg, etc. (25%). Bush, a major marketer of beans, now sells chili in a glass jar. Canned chili does not taste very good. Dry chili requires consumers to add their own meat, beans, and tomatoes, taking more preparation time.

Company Analysis. The principals of the firm have extensive consumer packaged food experience.

Customer Analysis. Howlin’ Coyote households consist of one to three people. Among married couples, both spouses work. Although a majority of buyers are women, single men represent a significant segment. Teenage boys devour it. Because chili is a quick and tasty meal, the product’s biggest users tend to be those pressed for time. Premium pricing also means that purchasers are skewed toward the higher end of the income range: $50,000 and above. Buyers range in age from 25 to 54. The high caloric level of much Mexican and Southwestern-style food has been widely reported and often exaggerated. Less certain is any link between such reports and consumer buying behavior. Therefore, while Howlin’ Coyote is lower in calories, fat, and sodium than its competitors, those qualities are not being stressed in promotion. Instead, taste, convenience, and flexibility are stressed.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin5. Market-Product Focus

A five-year marketing and product objectives for Paradise Kitchens and Howlin’ Coyote chili includes:

Marketing and Product Objectives. Paradise Kitchens will expand its brand at the retail level by increasing consumer awareness and repeat purchases, adding several new markets by Year 5, increasing food service sales, and adding new frozen food products.

Target Markets. The primary market is 1 to 3 person households with incomes of at least $50,000.

Points of Difference. Howlin’ Coyote chili is superior to those offered by competitors based on its taste, convenience, and packaging.

Positioning. Howlin’ Coyote chili is both tasty and easily and quickly prepared for today’s consumer.

6. Marketing Program

The marketing program applies the information summarized above, as shown below:

Product Strategy. Emphasize high quality and flavor; packaging is distinctive art communicating out-of-the ordinary positioning.

Price Strategy. Priced comparably with other frozen chili, higher than canned or dry—but worth it.

Promotion Strategy. Use in-store demonstrations, recipes, and cents-off coupons.

Place (Distribution) Strategy. Continue to use a food distributor until sales grow enough to justify shifting to a more efficient system using a broker.

7. Financial Data and Projections

The marketing plan provides past sales revenues for 1999-2007 along with five-year financial projections for 2008-2012.

8. Organization

The marketing plan also outlines an organization chart and staffing plan.

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9. Implementation Plan

Paradise Kitchens will use a five-year rollout schedule to enter new U.S. markets. The plan will be monitored to assess whether minor modifications may be required in chili recipes for different metropolitan areas. Comparing actual versus target monthly sales by metropolitan area will provide evaluation and control. Tactical marketing programs will be modified to reflect unique factors in each area.

10. Evaluation and Control

Actual case sales will be compared with monthly targets and tactical marketing programs modified to reflect the unique sets of factors in each metropolitan area. The speed of the rollout program will depend on Paradise Kitchens’ performance in the metropolitan markets it enters. Finally, Paradise Kitchens will respond to variations in regional tastes.

Appendix A. Biographical Sketches of Key Personnel

Appendix B. Detailed Financial Projections

2. Using Chapter 2 and Appendix A as guides, give focus to your marketing plan by(a) writing your mission statement in 25 words of less, (b) listing three nonfinancial goals and three financial goals, (c) writing your competitive advantage in 35 words or less, and (d) doing a SWOT analysis table.

Suggestions: Question #2 asks students to get a jump start on writing their marketing plan by putting on paper their mission statement, non-financial and financial goals, competitive advantage for the organization, and a SWOT analysis. This is a very threatening first step for many students. To assist students in writing effective marketing plans, instructors should emphasize to students the importance of (a) reading the pertinent chapter(s) in the textbook that relates to the element of the marketing plan and (b) studying the red and blue boxes in the margin of the Appendix A Sample Marketing Plan that gives hints on effective writing and identifies relevant textbook chapters, respectively.

3. Draw a simple organization chart for your organization.

Helping with Common Student Problems

Our experience from working with thousands of students writing marketing plans is the need to encourage them to (a) get started and get something on paper and (b) be specific. One way to accomplish this is to have students hand in a two-page draft of the start of their marketing plan containing the four items listed above in Question #2.

Our experience is that it is useful to have instructors make comments directly on this draft using the grading standard (perhaps using the grading sheet shown in the Instructor’s Resource Manual) marketing plan—but not give an actual grade on the two-page draft. This forces the student to get started and get something on paper and also lets them receive constructive suggestions from the instructor without the threat of a grade. We suggest the two-page draft be submitted the class period after the 7-5-3 class presentations.

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TEACHING NOTE FOR VIDEO CASE 2

BP: Transforming Its Strategy “Beyond Petroleum”1

This case describes how Ann Hand, Senior Vice President—Global Brand Marketing and Innovation at BP, developed a retail marketing strategy (Helios House) and supporting tactics (Helios Power) for BP retail gasoline stations in the U.S.

Synopsis

Show Slide 2-35. BP is the largest producer and marketer of petroleum products in the world. The company generates sales of over $250 billion each year, has almost 100,000 employees, and operates in over 100 countries worldwide. As a result of its recent Amoco, ARCO, and other acquisitions, BP serves 13 million customers per day at 24,600 retail sites, including 12,300 stations in the United States. Ann Hand is faced with many alternatives when deciding how to allocate resources to achieve BP’s goals, mission, and core values.

BP describes it mission as follows: “Our business is about finding, producing, and marketing the natural energy resources on which the modern world depends.” To translate this mission statement into practical action, BP specifies four core values: performance, innovation, progressive, and green. These values help the company express the way it does business while fulfilling its mission. In 2000, BP introduced its new Helios logo that conveys its corporate and retail brand image as a green, environmentally-friendly company. Today, BP is not just about gasoline—it has transformed itself “beyond petroleum.”

Recently, BP has begun to refine its am/pm convenience stores/gasoline stations at ARCO sites in the western U.S. and will partner with the BP retail gasoline station brand and penetrate the eastern U.S. In early 2007, Ann Hand developed a two-part strategy to change the way consumers think about BP and its U.S. gasoline stations.

Helios House. The eco-friendly, new-look gasoline station located in Los Angeles that will market-test new green ideas to be implemented at its other gasoline stations. This was accomplished through the use of green building materials, solar-generated electricity, drought-tolerant landscaping, and efficient lighting. Helios House also provides customers with clean bathrooms and tips on how they can improve the environment.

Helios Power. A promotional campaign designed to transform BP’s retail brand image at its gasoline station locations in the U.S. Helios Power consisted of several marketing tactics, including a new tagline, animated TV ads, in-store give-aways, a new website, and “street teams” to showcase the BP and ARCO brands in partnership with Ford.

As a strategic marketing process case for Chapter 2, the case also relates to environmental scanning (Chapter 3), product and service strategies (Chapters 10 through 12), and retailing strategies (Chapter 14).

1 The authors wish to thank Ann Hand and Kathy Seegebrecht of BP, Kimberly Mosford of BI Worldwide, andDan Hundley of Token Media for their contributions to this video case.

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Teaching Suggestions

Students can use the case information, BP’s website (www.bp.com), and their own experiences with gasoline retailing to analyze the BP Helios House gasoline station and the BP Helios Power promotional campaign.

Answers to Questions

1. (a) What is BP’s “Helios” strategy? (b) How does this strategy relate to BP’s mission and core values?

Answers:

The strategic marketing process consists of three phases—planning, implementation, and evaluation. The planning phase consists of three steps—situation analysis, goal setting, and the marketing program. BP used the strategic marketing process by applying each of the three steps in the planning phase to develop its “Helios” strategy.

a. What is BP’s “Helios” strategy? BP’s “Helios” strategy is a corporate-level strategy the organization developed to create a new brand identity for itself after the acquisition of Amoco, ARCO, etc. This brand identity reflects BP’s desire to transform itself into a proactive eco-friendly (i.e. green) organization. This strategy will in turn impact BP’s SBU (Refining & Marketing) and functional (retail gasoline marketing) strategies and tactics.

b. How does this strategy relate to BP’s mission and core values? An organization’s corporate-, SBU-, and functional-level strategies must relate to its mission and core values. BP’s condensed mission statement is to “find, produce, and market energy resources for its global customers.” Its four core values are consistent with its mission and are identified as:

Performance. Make and deliver promises that exceed not only financial but also environmental, safety, growth, customer, and employee expectations.

Innovation. Use the creativity of BP’s employees and cutting-edge technology to deliver customer solutions.

Progressive. Be a dynamic organization that strives to improve its operations as it communications with its stakeholders.

Green. Be a proactive, responsible leader in the treatment of the planet’s energy resources and developer of more eco-friendly sources of energy.

These core values guide BP in its strategic marketing process. The Helios logo serves as a visual reminder to all of BP’s stakeholders of how its mission and core values impact its strategy.

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http://www.bp.com/

Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin2. Conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis for

BP’s “Helios” initiative—looking forward globally to the next three years.

Answers:

As the first step in the planning phase of the strategic marketing process, a SWOT analysis is part of a situational analysis a firm conducts to: (1) identify industry trends; (2) analyze competitors; (3) assess itself; and (4) research consumers (see Chapter 2). SWOT is an acronym that describes an organization’s appraisal of its internal Strengths and Weaknesses and its external Opportunities and Threats. Listed below is a brief, non-exhaustive SWOT analysis for BP and it “Helios” initiative or strategy:

a. Strengths.

Well-known global brand name. New focus on eco-friendly energy production and marketing. Clean, fresh store image and design. Informed, conscientious employees that help educate and motivate customers to do

their part in becoming eco-friendly consumers. Use of cutting-edge technology (pump, payment systems, etc.). Partnership with Ford.

b. Weaknesses.

Variation of consumer needs and preferences across the U.S. or other countries may mean differing marketing programs.

New stations are costly to build; rebuilding existing stations also costly; profitability is an issue.

Some customers don’t want to be “educated” regarding green practices. Higher gasoline prices may cause consumer backlash against “oil companies” such

as BP. Narrow product selection (no food or other convenience items for sale).

c. Opportunities.

Convergence of convenience store and retail gasoline store. Consumer incomes increasing globally. Consumer desire globally for Western-style service. Greater car ownership by consumers in Eastern Europe, Asia.

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d. Threats.

Negotiations with politicians to obtain approval to construct stations. Global or regional political turmoil or natural disasters interrupt or restrict the

supply and/or raises the price of gasoline. Example: BP’s political problems with its Russian partner.

Global or regional recession reduces discretionary incomes and demand for gasoline.

Global mergers of petroleum companies means remaining firms are stronger, better financed.

Increased competition from ExxonMobil, Shell, etc.

3. What are some ways BP could use to effectively communicate its “Helios” strategy to consumers?

Answer:

Examples of promotional activities BP might consider include:

E-newsletters. Opt-in, periodic e-mailed newsletters that highlight BP’s transformational “green” efforts.

Partnerships with other firms like Ford. BP can form additional strategic alliances with other firms to promote its clean gasoline and gasoline stations’ emphasis on educating customers about being eco-friendly themselves.

TV ads. If the Helios House initiative is rolled out to other am/pm convenience stores/gasoline stations and BP gasoline stations, a nationwide television ad campaign can be rolled out to proclaim the benefits of Helios House ideas and actions.

4. What are the long-term benefits to (a) society and (b) BP of its Helios initiative?

Answers:

a. Long-term benefits to society. BP’s “Helios” strategy benefits society by taking a leading, proactive approach to being eco-friendly. By taking this approach, BP reduces future emissions into the atmosphere and water and the amount of hazardous waste to be disposed, making the environment safer and healthier for future generations.

b. Long-term benefits to BP of its Helios initiative. While there may be short-term costs involved in transforming BP into a more eco-friendly organization, BP believes that its shareholders will benefit from increased stock prices and employees will be safer and healthier as they serve the needs of the organization and its customers.

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin5. Looking at BP’s Helios Power marketing strategy and its “street team” marketing

tactic: (a) What objectives would you set for this tactic? (b) How would you propose BP measure the results?

Answers:

Objectives (or goals) are statements of an accomplishment of a task to be achieved, often by a specific time. For BP, these could be short-term (1 year) or long-term (3-5 years).To be measurable, objectives must be quantifiable to show their level of attainment.

a. Objectives would you set for the Helios Power street team tactic. Some sample objectives for the promotional period:

Awareness. Number of people who viewed the street team promotion; or number of people who received promotional materials (T-shirts, etc.) that were given away.

Trial. Number of people within the target market who agreed to test drive the Ford Edge automobile at the site (if offered) or local dealerships near the site in Florida and California.

Adoption. Number of people within the target market who purchased a Ford Edge automobile or gasoline from BP (Florida) and am/pm (California) convenience stores/gasoline stations near the site if coupons or other incentives were given away to those prospective BP/Ford customers who had seen the street team promotion.

b. Measuring the results for the Helios Power street team tactic. The objectives listed above would be measured as follows.

Awareness. Measured by counting the number of people present at the promotional site (beach).

Trial. Measured by counting the number of people who test drove a Ford Edge vehicle at the site or at a dealer’s lot within the target market area.

Adoption. Measured by visually counting the number of people who purchased a Ford Edge vehicle at the site or at a dealer’s lot within the target market area and/or purchased gasoline at a BP (Florida) and am/pm (California) convenience stores/gasoline station within the target market area.

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SLN 2-1: SUPPLEMENTAL LECTURE NOTE

“SMART” Objectives

Goals or objectives (used interchangeably) are statements of an accomplishment of a task to be achieved, often by a specific time. Goals convert the organization’s mission and business into performance targets to measure how well it is doing. Goals or objectives get converted into organizational strategies at the corporate, strategic business unit, and functional levels. All lower-level goals must contribute to achieving goals at the next, higher level. Marketing dashboards and the evaluation step of the strategic marketing process require specific goals against which actual results can be compared.

Useful criteria for writing effective goals are given by the acronym SMART:

Specific: Have a precise description of what is to be achieved.

Measurable: Be a quantitative value to show attainment.

Attainable: Be achievable, but challenging. Relevant: Be pertinent to the organization’s mission. Time-based: Have a deadline for completion.

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Marketing vs. Business Plans

Show Slide 2-44. Marketing plans are the means by which an organization attempts to carry out its strategic marketing process. As described in Appendix A, which provides a sample marketing plan, let’s review two key terms:

Marketing plan. A roadmap for the marketing activities of an organization for a specified future period of time, such as one year or five years.

Business plan. A roadmap for the entire organization for a specified future period of time, such as one year or five years.

There is no “generic,” one-size-fits-all structure for either a marketing or a business plan. Rather, they vary depending on factors such as the time period, industry, and size and kind of organization involved. The elements in a marketing plan and business plan also depend heavily on (1) who the audience is and (2) what its purpose is:

1. A marketing or business plan for an internal audience:

seeks to point the direction for future activities and is sent to all individuals in the organization who must implement the plan or who will be affected by it.

often has an objective of justifying a request for financial resources.

2. If the plan is directed to an external audience—such as friends, banks, venture capitalists, potential investors—for the purpose of raising capital, it has the additional function of being an important sales document:

Contains elements such as the strategic plan/focus, organization, and biographies of key personnel that would rarely appear in an internal plan.

Has financial information shown in the appendix that is far more detailed when the plan is used to raise capital and when prospective investors are told how they will get their money back, earning a profit on their investment.

Rarely contains contingency plans that might appear in an evaluation and control section of the plan.

As shown by comparing columns for marketing and business plans, the elements often vary. A key difference between a marketing plan and a business plan is that the business plan contains details on the R&D, operations, or manufacturing activities of the organization.As noted in Appendix A, even for a manufacturing business, the marketing plan is probably60 or 70 percent of the entire business plan. For small retail businesses, the marketing and business plans are virtually identical.

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The Chief Marketing Officer (CMO)

Show Slide 2-46. In recent years, the title of the head of marketing in many large firms ranges from the newly created chief marketing officer (CMO) to the vice president of marketing. These executives are responsible for creating, communicating, and delivering value to their organization’s customers. They not only frame marketing strategy but also see that it is implemented to achieve their organizations’ critical marketing goals.

CMOs have an increasingly important role in top management because of their ability to think strategically. Most bring multi-industry backgrounds, cross-functional management expertise, analytical skills, and intuitive marketing insights to their job. Representative examples include the three marketing executives shown who have had significant strategic responsibilities within their organizations.

Sources: Roger A. Kerin, “Strategic Marketing and the CMO,” Journal of Marketing, October 2005, pp. 12-13;and The CMO Council: Biographies of Selected Advisory Board Members.See http://www.cmocouncil.org/advisory__board.html.

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http://www.cmocouncil.org/advisory__board.html


ICA 2-1: IN-CLASS ACTIVITY

How Far Can General Mills Go with Line and Brand Extensions?2

Learning Objectives. To have students (1) suggest some line and brand extensions and (2) develop some generalizations about when a line or brand extension is or is not likely to work.

Nature of the Activity. To have students: (1) suggest new products to extend the Cheerios® brand, (2) assess which line and brand extension ideas make sense and which don’t, and (3) suggest some guidelines for developing line and brand extensions.

Estimated Class Time. 15 minutes.

Materials Needed.

The Cheerios® cereal bowlpak, the Fruity Cheerios® cereal bowlpak, and the Honey Nut Cheerios® Milk ‘n Cereal bar from the Instructor’s Survival Kit box.

Copies of the Finding Line and Brand Extensions for Cheerios Handout.

Preparation Before Class. Follow the steps below:

1. Read pp. 31-32 of Chapter 2 and 251 of Chapter 11.

2. Read, and if necessary, edit and print the CH02.doc Word file and the slides from the CH02.ppt PowerPoint file for this ICA.

3. Make copies of the Finding Line and Brand Extensions for Cheerios Handout.

4. OPTIONAL: Bookmark the Cheerios (www.cheerios.com) website on your classroom computer.

Instructions. Follow the steps below to conduct this ICA:

1. Pass around the Cheerios® cereal bowl, the Honey Nut Cheerios® cereal bowl, and the Honey Nut Cheerios® Milk ‘n Cereal bar from the Instructor’s Survival Kit box.

2. Show Slide 2-48 and give students this background mini-lecture on General Mills and the ready-to-eat (RTE) cereal market:

“In 2007, General Mills had a 30% share of the $6 billion U. S. ready-to-eat (RTE) cereal market, which was second only to Kellogg’s. However, the Cheerios line is the best-selling cereal, with a 12 percent share of the RTE market. This was due in part to recent product launches to the Cheerios family, such as Fruity Cheerios.3

For the past several years, the growth in the RTE cereal market has remained flat,as consumer demographics and tastes have changed. Some of these changes include:

2 The authors wish to thank Muffie Taggett and Denise Bosch of General Mills who assisted in the development of this ICA. Cheerios® and Honey Nut Cheerios® are registered trademarks of General Mills and used by permission.3 2007 General Mills annual report.

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http://www.cheerios.com/

a. Fewer people eat breakfast, and those that do want more convenience.

b. Consumers are concerned about eating healthier foods.

c. Increased movie and TV tie-ins to promote temporary sales increases. General Mills created Shrek and Dora the Explorer cereals while Kellogg’s has done this for Spider-Man, The Incredibles, SpongeBob SquarePants, to name a few.”

3. Divide the class roughly in half and assign students to one of two sets of teams: the “Line Extension” and the “Brand Extension.”

4. Show Slide 2-49. Pass out copies of the Finding Line and Brand Extensions for Cheerios® Handout to each student.

5. Spend 5 minutes and have students from the Cheerios “Line Extension” and the “Brand Extension” teams come up with ideas for products that could extend the Cheerios brand using the Finding Line and Brand Extensions for Cheerios® Handout.

6. Ask representatives of both the Cheerios “Line Extension” and the “Brand Extension” teams for their respective extension ideas and write them on the board.

7. Ask for a quick show of hands from the students’ on their reaction to the question “Does the extension work?” Check either the “Yes” or “No” column on the right side of the Finding Line and Brand Extensions for Cheerios® Handout that corresponds to the majority of student votes.

8. Ask the students for their conclusions or guidelines for what might “work” and “not work” in developing line or brand extensions. Some guidelines to discuss are:

a. Guidelines for line or brand extensions that do work:

Consumer credibility with the new brand/product under the old brand name umbrella.

Potential for significant new incremental sales and profits. Sales don’t steal or “cannibalize” those from the original brand. Little risk to the original brand. A perception of high quality for the new brand/product that retains the high

consumer regard for the original brand. Others as identified.

b. Guidelines for line and brand extensions that don’t work are really the reverse of those just listed. When Frosted Cheerios was introduced, Cheerios marketers had to overcome the concern about cannibalization.

9. Show Slide 2-50. Here are some possible ideas, showing those Cheerios line extensions that are currently offered. [NOTE: Read list below.]

10. Show Slide 2-51. Here are some possible ideas, showing those Cheerios brand extensions that are currently offered. [NOTE: Read list below.]

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-KerinMarketing Lessons. Introducing line and brand extensions may look easy but it is a very

complex, demanding, and costly process. Firms like General Mills must be concerned that new line extensions do not cannibalize sales from the original or previous extensions. Moreover, new brand extensions should (1) enhance, not diminish the brand equity invested and (2) meet a need of the new market segment-product group being targeted.

Website. The Cheerios website is (www.cheerios.com).

BrandKind of Extension

Line Extension Brand Extension

Cheerios

Cheerios (1941) Honey Nut Cheerios (1979) Apple Cinnamon Cheerios

(1988) MultiGrain Cheerios (1991) Frosted Cheerios (1995) Team Cheerios* (1996) Millenios* (2000) Strawberry Berry Burst

Cheerios* (2003) Triple Berry Burst Cheerios

(2003) Strawberry Berry Burst

Cheerios (2004) Strawberry Banana Berry Burst

Cheerios* (2004) Yogurt Burst Cheerios (2005) Fruity Cheerios (2006) Oat Cluster Cheerios Crunch

(2007) Banana Nut Cheerios (Sold at

Sam’s Club (2008)

Big G Milk ‘n Cereal Bar: Honey Nut Cheerios

Original Cheerios Snacks Mix Cheddar Cheese Cheerios

Snacks Mix Hot Cereal (?) Private Label Cereal (?) Honey Nut Cheerios Go Bag* Honey Nut Cheerios Cereal in a

Cup T-shirts, Toddler Cereal

Containers, Games, etc. NASCAR Race Car

Sponsorship

* Discontinued

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http://www.cheerios.com/

FINDING LINE AND BRAND EXTENSIONS FOR CHEERIOS® HANDOUT

BRAND TYPE OF EXTENSION

IDEA FOR EXTENSION OF BASIC BRAND

DOES EXTENSION

WORK?YES NO

Cheerios

LINE

BRAND

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ICA 2-2: IN-CLASS ACTIVITY

Marketing Yourself4

Learning Objective. To show students, especially non-marketing majors, that marketing is applicable and relevant to their future by using the strategic marketing process and marketing mix when looking for a job.

Nature of the Activity. To have students apply the strategic marketing process to themselves as they seek future employment.

Estimated Class Time. 30 minutes.

Materials Needed. Copies of the:

Marketing Yourself Handout (1) and (2).

The Do-It-Myself Marketing Plan Worksheet (1) and (2).

Sample Résumé.

Sample Cover Letter.

Preparation Before Class. Follow the steps below:

1. Read pp. 26, 32-38 of Chapter 2 and 424-433 of Appendix B: Planning a Career in Marketing.

2. Read, and if necessary, edit and print the CH02.doc Word file and the slides from the CH02.ppt PowerPoint file for this ICA.

3. Make copies of the following for each student:

a. Marketing Yourself Handout (1) and (2).

b. The Do-It-Myself Marketing Plan Worksheet (1) and (2).

c. Sample Résumé.

d. Sample Cover Letter.

4. OPTIONAL: Bookmark the Yahoo! HotJobs (www.hotjobs.com) website on your classroom computer.

4 The authors wish to thank Traci Moscowitz, Marketing Coordinator of Yahoo! HotJobs who assisted in the development of this ICA.

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http://www.hotjobs.com/

Instructions. Follow the steps below to conduct this ICA:

1. Pass out copies of the following handouts to each student: Marketing Yourself Handout (1) & (2); Do-It-Myself Marketing Plan Worksheet (1) & (2); Sample Résumé; and Sample Cover Letter.

2. Show Slide 2-53: HotJobs.com TV ad. [TRT = 0:30] This humorous ad shows how being both qualified and prepared for the job interview can lead to a job that fits both the applicant and the employer.

3. Ask students about the type of jobs they hope to land after graduation and how they intend to find these jobs. Most students will describe a “shotgun approach” of aiming at any job without any focused or targeted effort at specific careers (product management, marketing research, advertising, sales, etc.) or positions (assistant product manager, marketing research analyst, etc.).

4. Contrast the difference between a shotgun approach and a targeted marketing effort. Explain how research can help students obtain information to identify alternative “target markets” and learn about potential opportunities through networking, internships, informational interviewing, and many secondary sources.

5. Using the Marketing Yourself Handout and the Do-It-Myself Marketing Plan Worksheet, spend 15 minutes and have students conduct:

a. A situation analysis, which involves taking stock of what they have done regarding their career search, where they are now, and where they are headed in terms of their existing plans and the external factors and trends affecting their employment prospects.

b. A SWOT analysis should be used to appraise students’ personal strengths and weaknesses as well as their opportunities for and threats (or barriers) to successful employment.

To conduct an internal analysis, ask students what some of their strengths and weaknesses are in terms of the courses taken and grades received, work experience, extra-curricular activities involvement, honors received, etc.

To conduct an external analysis, ask students:– Which industries or types of jobs are growing or in demand that may be

opportunities?– What advantages or “points of difference” do they have relative to other

“competitors” (other students) seeking the same job opportunities, such as taking this marketing course, this educational institution’s reputation, etc.?

– What other external forces can impact their job search, for example a downturn in the economy, the need to be computer literate, etc.?

This type of focused approach helps to define potential market segments that can be targeted.

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http://www.HotJobs.com/

Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-Kerin6. Spend 5 minutes and have each student identify elements of their marketing mix.

a. What type of “product” do you have to offer? What skill sets do you possess?

b. What sort of “pricing” is appropriate? What salary and benefits do you want?

c. What “promotion” will be utilized? How will inform prospective employers about yourself?

d. What type of “place” or channel will be used? These include intermediaries such as on-campus career services, networking, employment agencies, and even the Internet, with firms such as Yahoo! HotJobs providing valuable services.

7. Call on several students and ask them to share portions of their personal marketing plan with the class. If students have few ideas about their marketing mix, ask about how information could be developed to help formulate an appropriate marketing mix.

8. OPTIONAL: Show Slides 2-54 and 2-55: Sample Cover Letter and Sample Résumé. Have students write a résumé and cover letter for a future employment opportunity using the format in these handouts as a homework assignment to be turned in the next class period.

Marketing Lesson. The strategic marketing process can be applied to products, services, ideas, and even to marketing yourself!

Website. To investigate some job possibilities, obtain information on writing résumés, etc., go to the Yahoo! HotJobs website, which is www.hotjobs.com.

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MARKETING YOURSELF (1)

Planning Phase

Situation Analysis

Internal Assessment. What are your strengths and weaknesses? What can you do to enhance your strengths and minimize your weaknesses? What points of difference or competitive advantage do YOU have? If you don't have one, can you develop one?

External Analysis. What are the trends in the environmental factors that could impact your job search and career development? These consist of: sociocultural, economic, technological, competitive, and regulatory factors.

Competitive Analysis. What type of background, experiences, strengths, and weaknesses do your competitors have?

Market Analysis. What market segments (job opportunities) have you identified as having the best potential? How do you fit into these markets? [NOTE: This means doing some research!]

Focus and Goal Setting

What are your objectives? Make them specific and measurable!

What is your target market? Examples might be large public accounting firms, business-to-business sales, and marketing research for a consulting firm in Chicago, etc.

Marketing Program

Product. YOU. Know yourself well. Continually improve yourself. Understand how you can meet the needs of your target market—prospective employers!

Pricing. What salary and compensation package do you want? What are you willing to settle for? What’s the average salary received by competitors in your target market?

Promotion. Very important. Think about the buying process. How will you create awareness for yourself? What can you do to “break through the clutter” and get the opportunity for an interview? Your personal selling skills will be important for telephone contacts and face-to-face interviews. Probe to find out about the needs of the organization before that “sales call” and during the interview. Have your questions prepared.

Place (Distribution). What channels have you developed to access your target market, such as associations, personal contacts, professors, etc? Do some careful research on these. Don’t assume that intensive distribution is necessarily the way to go. Focus your efforts to those target markets that hold promise.

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MARKETING YOURSELF (2)

Implementation Phase

Develop a timetable and budget for research, wardrobe, résumés, and travel. Carry out your program. Contact your target market opportunities. Follow-up consistently. Remember that looking for a job requires a significant commitment of your time and effort.

Evaluation Phase

Follow-up on all leads. Find out why you did or didn’t make the cut. Ask at an interview what it was about your résumé that interested them. Even if you don't get the job, you have more insight. Similarly, when you call to follow-up on those cover letters and résumés that you sent out, ask when decisions will be made, when it would be appropriate to call back (and then do it). If you are rejected, call back and ask why. If you exhaust all of the possibilities in a given target market, go back to your situation analysis and identify new segments. Always send a “Thank You” note.

Resources

Your college placement office.

Informational interviewing (a great opportunity to learn more about careers you are considering while you are still in school and can make some adjustments to your program).

Internships. Good experience to build your résumé and potential contacts for positions. Even if you don't want to work there, they can possibly open doors for you elsewhere.

Richard N. Bolles, What Color is Your Parachute?: A Practical Manual for Job-Hunters and Career-Changers, (Berkeley, CA: Ten Speed Press). A companion workbook is also available. See http://www.jobhuntersbible.com (Bolles’ website) and http://www.tenspeedpress.com.

Martin Yate, Knock’em Dead; Cover Letters That Knock’Em Dead; and Resumes That Knock’Em Dead, (Holbrook, MA: Adams Media Corporation). See http://www.adamsmedia.com/

Websites. The following contain resources on job searches, résumé writing, interviewing, job

postings, etc.

http://www.careerbuilder.com http://www.hotjobs.com

http://www.jobhuntersbible.com http://www.monster.com

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http://www.monster.com/

http://www.jobhuntersbible.com/


http://www.careerbuilder.com/

http://www.adamsmedia.com/

http://www.tenspeedpress.com/

http://www.jobhuntersbible.com/

THE DO-IT-MYSELF MARKETING PLAN (1)

STRATEGICMARKETING

PROCESS MY OWN MARKETING PLAN

PLANNING

PHASE

SituationAnalysis(SWOT)

Location of FactorKind of Factor

Favorable UnfavorableInternal: Me Personality Formal Education Job Experience Motivation Other:

My Strengths: My Weaknesses:

External: Economic Technical Legal Other:

Opportunities For Me: Threats Affecting Me:

Focusand Goal Setting

My Goals Upon Graduation

Personal Goals:

My Desired Position

Job Description:

My Target Industries,Organizations, andLocations

Industries:

Organizations:

Geographical Areas:

My Uniqueness(Points of Difference)

Personality:

Education & Experience:

Other:My “Positioning” How You Compare to Other Job Applicants:

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-KerinTHE DO-IT-MYSELF MARKETING PLAN (2)

MARKETINGPROGRAM MY OWN MARKETING PLAN

PLANNING

PHASE

Product Strategy (Actions to Improve My “Marketability”)

Formal Education/Courses:

Job Experiences/Projects Completed:

Extra-Curricular/Volunteer Activities:

Obstacles To Overcome:

Price Strategy Compensation Sought:

Promotion Strategy Résumé, Personal Interviews, and Letters/Telephone Calls:

Place Strategy Networking for Contacts and References:

IMPLEMENTATION

PHASE

Schedule/Budget Actions to Take/Budget Deadlines Marketing Actions

(Courses to take, summer jobs to get, résumés to write, clothes to buy, travel arrangements to make, etc.)

1.

2.

3.

4.

5.

1.

2.

3.

4.

5.

EVALUATION

PHASE

Evaluation What Did and Didn’t Work:

Action How to Modify Strategy:

2-47

Sally WinterElm Street Apartments #2BCollege Town, Ohio 44042January 31, 2008

Mr. J. B. JonesSales ManagerHilltop Manufacturing CompanyMinneapolis, MN 55406

Dear Mr. Jones:

Dr. William Johnson, Professor of Business Administration at My University, recently suggested that I write to you concerning your opening and my interest in a sales position. With a B.S. degree in business administration and courses in personal selling and sales management, I am confident that I could make a positive contribution to your firm.

During the past four years, I have been a salesclerk in a clothing store and an assistant manager in a gift shop. These two positions required my performing a variety of duties including selling, purchasing, stocking, and supervising. As a result, I have developed an appreciation for the viewpoints of the customer, salesperson, and management. Given my background and high energy level, I feel that I am particularly well qualified to assume a sales position in your company.

My enclosed résumé better highlights my education and experience. My extracurricular activities should strengthen and support my abilities to serve as a sales representative.

I am eager to talk with you because I feel I can demonstrate to you why I am a strong candidate for the position. I have friends in Minneapolis with whom I could stay on weekends, so Fridays or Mondays would be ideal for an appointment. I will call you in a week to see if we can arrange a mutually convenient time for a meeting. I am hopeful that your schedule will allow this.

Thank you for your kind consideration. If you would like some additional information, please feel free to contact me at (614) 555-1648. I look forward to talking with you.

Sincerely,

Sally Winter

enclosure

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Full file at http://TestbankCollege.eu/Solution-Manual-Marketing-3rd-Edition-KerinSALLY WINTER

Campus address (until 6/1/2008): Home address:Elm Street Apartments #2B 123 Front StreetCollege Town, Ohio 44042 Teaneck, NJ 07666Phone: (614) 555-1648 Phone: (201) [email protected]

EducationB.S. in Bus. Admin., My University, 2008, cum laude. 3.3 overall GPA; 3.6 GPA in major

Work ExperiencePaid for 70 percent of my college expenses through the following part-time and summer jobs:

Legal Secretary, Smith, Lee & Jones, Attorneys at Law, New York, NY—summer 2007 Took dictation and transcribed tapes of legal proceedings Typed contracts and other legal documents Reorganized client files for easier access Answered the phone and screened calls for the partners

Salesclerk, College Varsity Shop, College Town, Ohio—2006 to 2008 academic years Helped customers with buying decisions Arranged stock and helped with window displays Assisted in year-end inventories Took over responsibilities of store manager when she was on vacation or ill

Assistant Manager, Treasure Place Gift Shop, Teaneck, NJ—summers and Christmas vacations—2006 to 2008

Supervised two salesclerks Helped select merchandise at trade shows Handled daily accounting Worked comfortably under pressure during busy seasons

Campus Activities Elected captain of the women’s varsity tennis team for two years Worked as a reporter and night editor on campus newspaper for two years Elected historian for Mortar Board chapter, a senior women’s honorary society

Computer Skills Word, Excel, PowerPoint, Outlook, and Photoshop

Personal Interests Collecting antique clocks, listening to jazz, swimming

References Available on Request

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