P2- Hw 31 Theories Of Corporate Strategy

Question 1

Market penetration

Answer 1

Existing products in an existing market

Question 2

Market development

Answer 2

New market and existing product

Question 3

Product development

Answer 3

New product and existing market

Question 4

Diversification

Answer 4

New market and new product

Question 5

Porters matrix

Answer 5

Situational analysis tool that allows a business to achieve a competitive advantage

Question 6

Differentiation focus

Answer 6

When a narrow or niche market is targeted with a product which has a USP

Question 7

Differentiation strategy

Answer 7

A mass market product that has a strong USP

Question 8

Cost focus

Answer 8

When a niche market product competes with other businesses through having lower costs and proces

Question 9

Cost leadership

Answer 9

Mass market products compete on price

Question 10

Portfolio analysis (Boston’s Matrix)

Answer 10

A tool for analysing the products that a business has

Question 11

Distinctive capabilities

Answer 11

Ways that a business is superior to its competitors that are hard to copy