Simplify: -2

question 39

Essay

Simplify: -2

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Definitions:

Contingency Planning

The process of preparing for unforeseen events or emergencies by developing strategies in advance to handle and mitigate risks.

Market Penetration Strategy

A business approach aimed at increasing market share for an existing product, or promoting a new product, through aggressive marketing and sales tactics.

Question Marks

In a business context, 'question marks' refer to products or business units that have potential for growth but currently do not generate much revenue, often requiring significant investment to improve their market position.

BCG Matrix

A strategic business tool that classifies business units or products into four categories (Stars, Cash Cows, Question Marks, Dogs) based on market growth and market share.