Chapter 6 Media Quiz Theo Chocolate: Strategy Formulation and Execution 1)Theo Chocolate's early strategy to have a competitive advantage over other chocolate manufacturers involved: manufacturing mainstream chocolate and selling it at local grocery stores

Chapter 6 Media Quiz

Theo Chocolate: Strategy Formulation and Execution

1)Theo Chocolate's early strategy to have a competitive advantage over other chocolate manufacturers involved:

1. 1. manufacturing mainstream chocolate and selling it at local grocery stores.
   2. offering products that most customers would find exciting and would want to try.
   3. offering products the management found exciting and putting them in packaging it liked.
   4. manufacturing mainstream chocolate and packaging them in exciting packaging.
2. The flaw that Joe, the CEO of Theo Chocolate, discovered in his company's early strategy was that it:
   1. aimed to manufacture only mainstream chocolate varieties.
   2. failed to align with the wants of mainstream consumers.a
   3. failed to excite and motivate employees.
   4. aimed to sell chocolate bars through grocery stores.
3. The management of Theo Chocolate took steps to fix their early strategy by:
   1. moving their manufacturing units to Seattle.
   2. deciding to enter the confectionary industry.
   3. heavily advertising the company's ethical business model to improve its credibility.
   4. reevaluating the company's numbers and searching for profitable opportunities.
4. As a part of the new strategy, one of the steps that managers at Theo Chocolate decided to take was to:
   1. produce exotic chocolate flavors to lure consumers.
   2. wrap chocolate bars in easily readable packaging.
   3. inform the public of the company's organic standards.
   4. increase the price of their exotic candy bars.
5. Theo Chocolate's companywide decision to pursue mainstream customers and high volume sales is consistent with its _____.
   1. acquisition strategy
   2. stability strategy
   3. growth strategy
   4. retrenchment strategy
6. To make the brand more popular among consumers, Theo Chocolate decided to:
   1. offer a more accessible and mainstream product line to consumers.
   2. sell its products only at select boutiques to enhance their desirability.
   3. focus only on exotic and unusual flavors of chocolates.
   4. create exclusive chocolate bars for its premium customers.
7. According to Joe, the CEO of Theo Chocolate, which of the following is the most important parameter for Theo Chocolate's customers?
   1. The quality of the chocolates
   2. The exotic variety of chocolates
   3. Fair trade certification
   4. The integrity of the production process
8. According to Debra, the vice president of sales and marketing, Theo Chocolate's competitive advantage within the chocolate industry is that it:
   1. has a horizontally integrated supply chain.
   2. manufactures chocolate bars in unusual and exotic flavors.
   3. primarily manufactures chocolate in popular flavors.
   4. is the only company that manufactures organic fair trade chocolate.
9. According to Debra, the vice president of sales and marketing, Theo Chocolate is the only chocolate manufacturer that:
   1. controls its supply chain from start to finish.
   2. outsources the production of its chocolate bars.
   3. grows its own cacao beans.
   4. has horizontally integrated products on store shelves
10. According to Debra, the vice president of Theo Chocolate, the most important marketing vehicle the company has is:
    1. the fair trade certification.
    2. the unique varieties of chocolates it offers.
    3. tours of its factories.
    4. free product giveaways.
11. One of Theo Chocolate's strategies that sets it apart from its competitors is that it:
    1. gives away a part of revenue to charities.
    2. provides tours of its cacao farms.
    3. educates customers about fair trade.
    4. uses celebrities as brand ambassadors.
12. According to Debra, the vice president of Theo Chocolate, one of the results of offering simpler products is that people are:
    1. interested in buying directly from the source.
    2. less willing in paying a premium for organic chocolate.
    3. willing to try more unusual flavors.
    4. less interested in paying a premium for fair trade.