WEEK 6

Question 1

Strategy primarily for achieving low cost leadership among industry competitors.

Answer 1

COST LEADERSHIP

Question 2

seeks to achieve superior product attributes and features that are different from industry competitors.

Answer 2

differentiation

Question 3

Efforts are concentrated on a relatively small but profitable market.

Answer 3

focused

Question 4

This involves gaining ownership or increased control over distributors or retailers.

Answer 4

forward integration

Question 5

This involves gaining ownership or increased control over suppliers.

Answer 5

backward integration

Question 6

This involves purchase of or increased control over competitors.

Answer 6

horizontal integration

Question 7

The objective of this strategy is to increase market share of current markets through greater and more intensive marketing efforts.

Answer 7

market penetration

Question 8

This strategy involves the introduction of existing products or services into a new geographical area or market.

Answer 8

market development

Question 9

This strategy involves the improvement of current products or services or the development of new products with the purpose of increasing sales.

Answer 9

product development

Question 10

This strategy involves introducing new but related products or services.

Answer 10

related diversification

Question 11

This involves introducing new but unrelated products or services.

Answer 11

unrelated diversification

Question 12

This involves halting or reversing declining sales and profits through cost or asset reduction.

Answer 12

retrenchment

Question 13

This involves selling a division or part of an organization

Answer 13

divestiture

Question 14

This involves selling all of a company’s assets, in parts or as a whole, for their tangible worth.

Answer 14

liquidation