The Factors That Are Important to Focus on When Mapping

question 47

Multiple Choice

The factors that are important to focus on when mapping strategic groups include:

• A) Identifying the top competitive factors in your market, such as expenditures on research and development, pricing, distribution channels, and customers.
• B) Choosing two key dimensions from these factors for the horizontal and vertical axes, plotting your rivals along these axes, and looking for differences among the competition.
• C) Analyzing the firms that are closest to your organization on the map, because they will give your firm the strongest rivalry.
• D) All of these.

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Definitions:

Penetration Pricing Policy

A business strategy where the initial product price is set very low to gain market share quickly.

Sales Volume

The quantity of products or services sold within a specific period.

Low Initial Price

A pricing strategy where a product or service is offered at a low price to attract customers initially.

Point A to Point B

Represents the process or journey from a starting location, situation, or condition to a designated end or goal, often used figuratively.