The strategy of 'focus' means firms seek to...

Segment within the industry and tailor to their needs.

Market Penetration is...

Business's focus selling the product in the existing market

Why is Diversification risky?

Business has no experience and little knowledge of Market

Hybrid positioning involves…

The product has elements of low price and differentiation

What is the Ansoff Matrix?

A tool that helps determine product and growth strategies.

In cost leadership, a firm sets out to be...

Become the low cost producer in its industry.

Why is the Ansoff Matrix useful?

Helps to see possible growth strategies.

Why are the approaches presented 'generic stratergies'

Because they can be applied to any industry.

Why is Porter's Generic Strategy useful to a firm?

The model helps to gain competitive advantage when followed.

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Bowman's, Porter's and Ansoff's stratergies.

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A Quiz revision material surrounding Bowman's Strategic Clock, Porter's Generic Stratergy and Ansoff's Matrix.

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Questions 15

Answers

1
The strategy of 'focus' means firms seek to...
Tailor to the entire markets wants and needs.
Segment within the industry and tailor to their needs.
Focus on productivity within their industry.
Increase global competitiveness.
2
Market Penetration is...
Business's focus selling the product in the existing market
Business seeks to sell in a new market.
Steve.
launches a new product in a new market.
3
Focusing on Existing Products in a New Market is...
Market Development
Cash cow
Product Development
Diversification
4
If a firm's scope was the 'Total Market' and had a 'cost' competitive advantage, they are...
Demand Focused
Cost Leaders
Differentiation Focused
Cost Focused
5
Why is Diversification risky?
Spread risk.
Business has no experience and little knowledge of Market
Increase price
its great fun
6
Hybrid positioning involves…
The product being expensive with little differentiation
The product being cheap with little differentiation
The product has elements of low price and differentiation
7
How many positions are there on the strategic clock?
12
10
8
8
What is the Ansoff Matrix?
A tool that helps determine product and growth strategies.
Increasing the productivity
A movie
Way of cutting costs
9
Which is a strength of Bowman's Strategic Clock?
Only requires data from one business
Offers variety in positioning.
Always priovides clear strategy
10
Bowman’s strategic clock is a model to analyse strategic position in relation to what?
Offerings of competitors
Market share
Assets of a business
11
In cost leadership, a firm sets out to be...
Become the low cost producer in its industry.
To appeal to a niche market.
To be unique within its industry.
The highest charging withing it's industry.
12
Positioning of a product is based on…
Market size and market share
Price and perceived value
Added value and demand
13
Why is the Ansoff Matrix useful?
Celeste said it was
Steve said it was
Helps to see possible growth strategies.
Will
14
Why are the approaches presented 'generic stratergies'
Because they can be applied to any industry.
Because they're simple.
Because they're easy to understand.
Because the model says so.
15
Why is Porter's Generic Strategy useful to a firm?
It's easy to understand.
The model helps to gain competitive advantage when followed.
Because E=MC2
It helps reduce costs.

Bowman's, Porter's and Ansoff's stratergies. Flashcards | StudBud