Management 490 Chapter 5 Part 1

20 Questions | Attempts: 81
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Questions and Answers
  • 1. 
    Increasing the size and viability of the business over time
    • A. 

      Competitive Strategies

    • B. 

      Growth Strategies

    • C. 

      Corporate Strategies

  • 2. 
    How the firm intends to position itself to create value for its customers that are different from its competitors
    • A. 

      Competitive Strategies

    • B. 

      Growth Strategies

    • C. 

      Corporate Strategies

  • 3. 
    Strategies involving the organization in new industries and new businesses.
    • A. 

      Growth Strategies

    • B. 

      Internal Growth Strategy

    • C. 

      Corporate Strategies

  • 4. 
    Business builds stores in a new location (market penetration).
    • A. 

      Internal Growth Strategy

    • B. 

      External Growth Strategies

    • C. 

      Competitive Strategies

  • 5. 
    Increase the quantity of products or services sold, thereby increasing revenue and share of the market
    • A. 

      Product/Service Development

    • B. 

      Market Development Strategy

    • C. 

      Market Penetration Strategy

  • 6. 
    This strategy will likely increase the size of the business but not scope of the business
    • A. 

      Applications Development

    • B. 

      Market Penetration Strategy

    • C. 

      Product/Service Development

  • 7. 
    Successful in the early stage of the organization's life when many customers are untapped
    • A. 

      Market Penetration Strategy

    • B. 

      Product/Service Development

    • C. 

      Applications Development

  • 8. 
    Seeking new customer groups or segments that differ in some way from existing customers
    • A. 

      Product/Service Development

    • B. 

      Market Penetration Strategy

    • C. 

      Market Development Strategy

  • 9. 
    Finding new uses for existing products so that new market segments can be tapped.
    • A. 

      Market Penetration Strategy

    • B. 

      Product/Service Development

    • C. 

      Applications Development

  • 10. 
    Modify existing products or develop new products/services for the purpose of selling more to existing customers or creating new market segments
    • A. 

      Product/Service Development

    • B. 

      Market Penetration Strategy

    • C. 

      Market Development Strategy

  • 11. 
    Investing organizational resources in another company or business to achieve growth targets
    • A. 

      Growth Strategies

    • B. 

      External Growth Strategies

    • C. 

      Internal Growth Strategy

  • 12. 
    The acquisition of an organization in the same line of business.  Accomplished for the purpose of gaining market share in a particular segment, expanding a market geographically, or augmenting product or service lines
    • A. 

      Product/Service Development

    • B. 

      Horizontal Integration

    • C. 

      Joint Ventures

  • 13. 
    Involves acquisition of capabilities, market segments, or product lines.
    • A. 

      Joint Ventures

    • B. 

      Applications Development

    • C. 

      Horizontal Integration

  • 14. 
    Formed with other organizations to penetrate new domestic or foreign markets, develop new and services, or improve existing processes for producing products or services
    • A. 

      Joint Ventures

    • B. 

      Horizontal Integration

    • C. 

      Market Penetration Strategy

  • 15. 
    Generally the first within their industry in introducing new products and pursuing new market opportunities
    • A. 

      Competitive Advantage

    • B. 

      Prospectors

    • C. 

      Defenders

  • 16. 
    Turf protectors that engage in little or new product/market development
    • A. 

      Defenders

    • B. 

      Prospectors

    • C. 

      First Movers

  • 17. 
    Attempt to maintain positions in existing markets while waiting to see what happens when a competitor introduces a new product or enters a new market
    • A. 

      First Movers

    • B. 

      Defenders

    • C. 

      Analyzers

  • 18. 
    React to environmental situations
    • A. 

      Reactors

    • B. 

      First Movers

    • C. 

      Prospectors

  • 19. 
    Benefit when the move can be secured through patents, exclusive distribution channels, unique brand names or reputation, or licenses
    • A. 

      First Movers

    • B. 

      Analyzers

    • C. 

      Prospectors

  • 20. 
    Offering products or services valued by the customers, offering standard products or services produced at a lower cost and usually offered at a lower price, or using a strategy called best cost
    • A. 

      Differentiation

    • B. 

      Uniqueness

    • C. 

      Competitive Advantage

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