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Mktg 431: Strategic Marketing Question Paper
Mktg 431: Strategic Marketing
Course:Business Administration
Institution: Kenya Methodist University question papers
Exam Year:2012
KENYA METHODIST UNIVERSITY
END OF 1''st ''TRIMESTER 2012 EXAMINATIONS
SCHOOL : BUSINESS AND ECONOMICS
DEPARTMENT : BUSINESS ADMINISTRATION
UNIT CODE : MKTG 431
UNIT TITLE : STRATEGIC MARKETING
TIME: 2 HOURS
Instructions: Answer Question ONE and any other TWO
Question One
The Minnesota Mining and manufacturing company known as 3M began manufacturing sand paper nearly a century ago. Today it is the leader in dozens to a technical areas from fluoro-chemistry to fibre optics. The firm makes more than 60,000 different products. While 3M has acquired many smaller firms over the years, its growth strategy has focused primarily on internal new product development, emphasizing both improved products for existing customers and new products for new markets. One formal objective assigned to every business unit is to obtain at least 30 percent of annual sales from products introduced within the past four years.
The company also pursues growth through the aggressive development of foreign markets for its products. In 2003, 3M attained $10.7 billion in sales – 58 percent of its total revenue from outside United States
Differences in customer needs and life-cycle stages across industries, however lead 3M’s various business units to pursue their growth objectives in different ways. The industrial tape growth objectives are achieved from extending the scope of adhesive technology, product improvements and line extensions targeted at existing customers and expansion global markets.
In contrast, the firm’s Drug Delivery systems sells a variety of technologies for the delivery of medications that are inhaled or absorbed through the skin. Most unit growth comes from developing new products, often through alliances with other pharmaceutical firms aimed at markets.
The competitive strategies of 3M’s various business also differ, for instance, the industrial tape unit is primarily concerned with maintaining its commanding market share in existing markets while preserving or even improving profitability its competitive strategy is to differentiate itself from competitors on the basis of product quality and excellent customer service.
Required:
Answer the following questions based on the case study and your understanding of strategic marketing management.
Citing examples from the above case study identify and explain the strategies 3M is pursuing at corporate, Business and marketing level.
(6 Marks)
Discuss how SWOT analysis may have helped 3M become successful in its industry.
(4 Marks)
Explain how 3M has demonstrated the role of marketing in achieving business objectives.
(4 Marks)
Demonstrate how 3M has applied the thinking behind Igor Ansoff product – market expansion grid.
(8 Marks)
Citing examples from the case, Discuss the generic strategies 3M is pursuing to achieve sustainable competitive advantage.
(8 Marks)
Total 30 Marks)
Question Two
"The product life cycle framework can be useful in identifying alternative strategic choices".As the strategic marketing manager of your organization explain the strategic choices relevant for every stage in the product life cycle.
(10 Marks)
Describe the steps in the strategic marketing planning process or the steps in the marketing audit.
(10 Marks)
Question Three
Ideally a balanced portfolio should contain few or no "dogs" some "problem children" some "stars" and some "cash cows". Your students colleagues in other specializations such as HR Finance, Entrepreneurship, Theology, Nursing, regard you as a "Marketing Guru". Using KeMU as an example explain to your students colleagues the meaning of the words in inverted quotes.
(10 Marks)
What is a strategic business unit.
(1 Mark)
What are the main characteristics of an SBU. Explain.
(3 Marks)
Briefly explain the role of market segmentation, targeting and positioning in strategic marketing.
(6 Marks)
Question Four
Kottler & Sing have identified various strategies for market share leaders to defend their market share. Identify and explain these strategies. Cite examples from business world.
(10 Marks)
"Without customer there is no business" Its no wonder then that customer analysis" has been recognized as a key component in the marketing audit. Identify and discuss any model of buyer behavior that can help you carry out customer analysis in consumer or industrial markets.
(10 Marks)
Question Five
Today’s business environment one must be as much competitor – as customer oriented". Therefore the need for competitor analysis before developing marketing strategies. Citing examples from industries in Kenya . Discuss how you would apply Porters FIVE forces model to understand the intensity of competition and the relevant generic strategies you would apply to counter the forces.
(10 Marks)
Discuss the characteristics and components of an effective mission statement and the role they play in achieving competitive advantage for firm’s.
(10 Marks)
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