Which of the Following Best Describes the Foothold Strategy

question 20

Multiple Choice

Which of the following best describes the foothold strategy?

• A) It refers to the idea of creating a new, untapped market rather than competing with rivals in an existing market.
• B) It involves combining ideas from existing businesses in order to create a new business.
• C) It involves introducing a lower-end brand to protect the firm's market share without devaluating the firm's existing brands.
• D) It involves a firm intentionally establishing a small position within a market in which it does not yet compete.
• E) Such a strategy conflicts with, and threatens to replace, traditional approaches to competing within an industry.

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Definitions:

Consonant-Vowel

A syllabic structure forming the basic building blocks of language, involving a consonant sound followed by a vowel sound.

Gambler's Fallacy

The erroneous belief that if an event occurs more frequently than normal during some period, it will happen less frequently in the future, or vice versa.

Roulette-Type Game

A gambling game in which players bet on which compartment of a revolving wheel a small ball will come to rest in.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.