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Trek Bicycles, Inc

question 3

Multiple Choice

Trek Bicycles, Inc. is a manufacturer of bicycles and sells its bikes to retail outlets that serve the consumer market. Trek bicycles are priced at $300 and over and are typically sold to consumers who are recreational riders or those aspiring to compete in amateur cycling or triathlon events. Trek has enjoyed a steady stream of revenue from its line of road bicycles, which are more traditional, multispeed ? HYPERLINK \l "_msocom_1" bicycles for those who enjoy long rides on city or rural roads. Sales of road bikes are relatively stable, and Trek does little to market the bikes to consumers since they have a dominant share of the market. However, hybrid bikes represent a growing segment as younger consumers prefer the upright riding position of the bikes. They can also be utilized for either road or mountain biking. Trek is supporting the hybrid line of bikes with extensive advertising in specialty magazines as well as social media marketing. Trek believes the category of hybrid bikes is growing. but their market position is not as strong as other manufacturers, such as Cannondale. Using the Boston Consulting Group's Growth Share Matrix, road bicycles would be categorized as __________ while hybrid bikes would fall into the ___________ category.

Definitions:

Innovator's Imperative

The necessity for businesses to continually innovate in order to survive and prosper in a competitive market environment.

Preexisting Assumptions

Beliefs or ideas taken to be true without evidence, prior to analysis or evidence.

Requirement Specification

A detailed description of the functions, features, and limitations of a product, system, or service that needs to be developed.

Fertilize Local Ideas

The process of nurturing and developing innovative ideas within a local context to stimulate growth or solve community-specific issues.