Technological Knowledge

question 32

Multiple Choice

Technological knowledge: 

• A) is gained through market research.
• B) can lead to a new product that is the basis for a new entry.
• C) does not help unless the market applicability is obvious.
• D) does not help if the market is limited.

Understand the implications of Porter's Five Forces on industry competition and market attractiveness.

Evaluate the role of industry environmental factors (competitors, customers, resource suppliers) in strategic planning.

Comprehend the BCG Matrix and its implications for strategic management in terms of market share and market growth.

Identify and discuss strategies for different categories of products in the BCG Matrix, including question marks, stars, cash cows, and dogs.

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Definitions:

Insurance Companies

Businesses that provide coverage for various risks including health, property, and life, in exchange for premiums.

Maker

A person or entity that creates or manufactures something.

Deposit Slip

A document provided by a bank for a depositor to fill out, detailing the amount of cash or checks to be added to a particular account.

Cryptocurrency

Digital or virtual currency that uses cryptography for security, operating independently of a central bank.