Which Strategy?
Which of the 4 strategies outlined in Ansoff's product/market grid involves introducing a new product into an existing market?
Product Development
The main goal of market penetration is to increase market share.
True
What is the main purpose of Ansoff's product/market grid?
Growth or Growth strategy
Which of the 4 strategies outlined in Ansoff's product/market grid involves introducing growing market share of a current product range?
Market Penetration
Product Development is a great strategy to consider when the market is saturated with heavy competition?
True
Where was Ansoff's analysis and explanation of his product/market grid first published?
Harvard Business Review
Which of the 4 strategies outlined in Ansoff's product/market grid is the riskiest of them all?
Diversification
In market development it is smart to revamp product packaging and adjust distribution channels.
True
In what year was Ansoff's work published in the Harvard Business Review?
1957
Which of the 4 strategies outlined in Ansoff's product/market grid involves current products being targeted towards a different customer segment?
Market Development
Diversification is relatively risk-free.
False
When it comes to market penetration, this strategy can only be used if the market is still _______ .
Growing
Which of the 4 strategies outlined in Ansoff's product/market grid is the least risky of them all?
Market Penetration
In order to be considered product development, the products have to be new to the market.
False
McDonald's is planning on coming out with a clothing line (Not Merchandise) to compete with the likes of Zara, H&M, and Pacsun. Is this an example of related or unrelated diversification?
Unrelated diversification