Match the Options Below with the Correct Phrases

question 24

Multiple Choice

Match the options below with the correct phrases:
-prospector strategy

• A)a business-level strategy to keep tight controls over expenses
• B)a strategy to acquire similar products or services
• C)a strategy to accept the status quo
• D)a business unit with low market share and low market growth rate
• E)the processes associated with putting the strategic plan into motion
• F)a strategy element that identifies the current position and its relationship to competitors
• G)a strategy to explore "uncharted waters"
• H)a planning tool grouping businesses based on market growth rate and market share
• I)a strategy to reduce the size or scope of activities
• J)major organizational departments such as marketing and human resources are critical to this strategy

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Definitions:

Product Design

The process of creating a new product to be sold by a business to its customers, focusing on specifications, features, and aesthetics.

Holistic

An approach that emphasizes the importance of the whole and the interdependence of its parts, often used in management and problem-solving to consider all factors.

Aesthetic

Pertains to the nature of beauty, art, and taste and the creation and appreciation of beauty.

Kano Model

A theory for product development and customer satisfaction developed by Noriaki Kano, which classifies customer preferences into five categories: Must-Be, One-Dimensional, Attractive, Indifferent, and Reverse.