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:

Genetic Engineering

The direct manipulation of an organism's genes using biotechnology to alter its characteristics.

Biodiversity

The variety and variability of life on Earth, encompassing the diversity of ecosystems, species, and genes.

Speciation

The process through which new genetically distinct species evolve from a single ancestral species.

Geographic Isolation

A situation where a population of species is physically separated from exchanging genetic material with other populations due to geographical barriers, leading to divergent evolution.