Using Ansoff's Matrix, If a Firm Enters New Markets Using

question 13

Multiple Choice

Using Ansoff's matrix, if a firm enters new markets using existing products it is using the growth strategy of:

• A) Market penetration
• B) Market development
• C) Product development
• D) Diversification

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Definitions:

Performance Management

A strategic approach focused on improving and maintaining employee performance to achieve organizational goals.

Social Responsibility

The idea that individuals and organizations have an obligation to act for the benefit of society at large, often beyond their own interests or the law requirements.

Administrative Issues

Concerns related to the management, organization, and operation of a business or institution.

Advanced Technology

Cutting-edge or highly developed tools, equipment, and processes that offer superior performance or capabilities.