Management 490 Chapter 5 Part 1

20 Questions | By Roadman19771 | Updated: Mar 20, 2022 | Attempts: 81

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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