Michael Helms Is the CEO of Dunder Mountain, Which Is

question 24

Multiple Choice

Michael Helms is the CEO of Dunder Mountain, which is a retail store that sells camping, hunting , and sporting gear. Michael and his executive team are meeting to brainstorm new ideas on how to grow the business. One idea is to mimic a competitor's product that is attempting to sell a new product in a different industry. After performing a Porter's Five Forces analysis, Michael determines that all of the forces are high in this new industry. What should Michael do?

• A) Explode into the market with an overflow of the product.
• B) Contemplate other products to introduce at the same time in this new market.
• C) Compare the competitor's prices and offer his product lower in this new market.
• D) Not introduce the product because all five forces are strong and this would be a highly risky business strategy.

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