D077 Unit 3 Quiz Unit Test
1. U3M4L15_1 What is a company's market share?
A company's public image rating relating to environmental issues A company's total
advertising budget on a specific medium
A company's presence in a trade show offering
A company's percentage of the total sales in an industry: A company's percent- age of the total sale
in an industry
Market share is a company's percentage of the total sales in a particular market. The total sales
can be measured in units sold, or total revenue can measure marketing share.
2. U3M4L15_2 What does the strategic opportunity matrix examine?
New versus existing markets Financial
auditing Accountability of management
Internal versus external promotion: New versus existing markets
The strategic opportunity matrix helps companies focus on different growth strate- gies for
markets and products by examining new versus existing markets and new versus existing
products.
3. U3M4L15_3 What is the name of a means of evaluating a company's plans for growth based on
new versus existing markets and new versus existing products?
SWOT matrix
Strategic opportunity matrix
Diversification strategy
Product development strategy: Strategic opportunity matrix
The strategic opportunity matrix organizes growth strategies in a framework based on new
versus existing markets and new versus existing products.
4. U3M4L15_4 Why is a growth strategy important to a company?
It provides a planning tool to simplify, organize, and focus the possible options for growth for the
company.
It allows a company to determine how many new employees that the company needs to hire.
It provides a planning tool for employees to further their career by utilizing
, D077 Unit 3 Quiz Unit Test
internal growth and development programs.
It ensures a company has made best efforts to ensure that employees' retire- ment accounts increase
in value.: It provides a planning tool to simplify, organize, and focus the possible options for
growth for the company.
The strategic opportunity matrix is a tool to develop a growth strategy. It helps a company
determine the actions required for growth.
5. U3M4L16V1 A US based clothing retailer buys a similar competitor in Aus- tralia. This is a strategy
of
market development
product development
market penetration
diversification: market development
6. U3M4L16V2 Attempting to grow sales of existing products in existing mar- kets is known as::
market penetration
7. U3M4L16V3 Which of the four strategies in the ANSOFF matrix is thought to involve lowest risk?
market penetration market
development product
development
diversification: market penetration
8. U3M4L16V14 A company A acquires another company B that is in a com- pletely unrelated
business. Company A believes that this acquisition will help it to develop the business that it has no
experience in. Company A is utilizing which growth strategy?
market penetration market
development product
development
diversification: diversification
9. U3M4L16_1 Which growth strategy utilizes new markets with existing prod- ucts using the
strategic opportunity matrix?
Market development
Product development
Market penetration
Diversification: Market development
, D077 Unit 3 Quiz Unit Test
10.U3M4L16_2 Which growth strategy utilizes new markets with new products using the strategic
opportunity matrix?
Market penetration
Diversification Market
development
Product development: Diversification
11.U3M4L16_3 Which growth strategy utilizes existing markets with existing products using the
strategic opportunity matrix?
Market penetration Market
development Diversification
Product development: Market penetration
12. U3M4L16_4 Which growth strategy utilizes existing markets with new prod- ucts using the
strategic opportunity matrix?
Market development Market
penetration Product
development
Diversification: Product development
13.U3M4L17_1 When does market penetration occur?
When a company improves its previous product in a current market
When a company increases production of a product to meet increased de- mand
When a company removes a line of products to exit a current market When a company increases
sales in a market in which its products already
exist: When a company increases sales in a market in which its products already exist
Market penetration occurs when a company infiltrates a market in which current products alread
exist. The best way to achieve this is by gaining the customers of competitors. Other ways includ
attracting non-users of your product or convincing current clients to use more of your product.
14.U3M4L17_2 What does a market development strategy do for a company?
Designs new point-of-sale experience and online storefront to give a fresh image for a company
Delivers marketing materials to customers via emails, online ads, and other
1. U3M4L15_1 What is a company's market share?
A company's public image rating relating to environmental issues A company's total
advertising budget on a specific medium
A company's presence in a trade show offering
A company's percentage of the total sales in an industry: A company's percent- age of the total sale
in an industry
Market share is a company's percentage of the total sales in a particular market. The total sales
can be measured in units sold, or total revenue can measure marketing share.
2. U3M4L15_2 What does the strategic opportunity matrix examine?
New versus existing markets Financial
auditing Accountability of management
Internal versus external promotion: New versus existing markets
The strategic opportunity matrix helps companies focus on different growth strate- gies for
markets and products by examining new versus existing markets and new versus existing
products.
3. U3M4L15_3 What is the name of a means of evaluating a company's plans for growth based on
new versus existing markets and new versus existing products?
SWOT matrix
Strategic opportunity matrix
Diversification strategy
Product development strategy: Strategic opportunity matrix
The strategic opportunity matrix organizes growth strategies in a framework based on new
versus existing markets and new versus existing products.
4. U3M4L15_4 Why is a growth strategy important to a company?
It provides a planning tool to simplify, organize, and focus the possible options for growth for the
company.
It allows a company to determine how many new employees that the company needs to hire.
It provides a planning tool for employees to further their career by utilizing
, D077 Unit 3 Quiz Unit Test
internal growth and development programs.
It ensures a company has made best efforts to ensure that employees' retire- ment accounts increase
in value.: It provides a planning tool to simplify, organize, and focus the possible options for
growth for the company.
The strategic opportunity matrix is a tool to develop a growth strategy. It helps a company
determine the actions required for growth.
5. U3M4L16V1 A US based clothing retailer buys a similar competitor in Aus- tralia. This is a strategy
of
market development
product development
market penetration
diversification: market development
6. U3M4L16V2 Attempting to grow sales of existing products in existing mar- kets is known as::
market penetration
7. U3M4L16V3 Which of the four strategies in the ANSOFF matrix is thought to involve lowest risk?
market penetration market
development product
development
diversification: market penetration
8. U3M4L16V14 A company A acquires another company B that is in a com- pletely unrelated
business. Company A believes that this acquisition will help it to develop the business that it has no
experience in. Company A is utilizing which growth strategy?
market penetration market
development product
development
diversification: diversification
9. U3M4L16_1 Which growth strategy utilizes new markets with existing prod- ucts using the
strategic opportunity matrix?
Market development
Product development
Market penetration
Diversification: Market development
, D077 Unit 3 Quiz Unit Test
10.U3M4L16_2 Which growth strategy utilizes new markets with new products using the strategic
opportunity matrix?
Market penetration
Diversification Market
development
Product development: Diversification
11.U3M4L16_3 Which growth strategy utilizes existing markets with existing products using the
strategic opportunity matrix?
Market penetration Market
development Diversification
Product development: Market penetration
12. U3M4L16_4 Which growth strategy utilizes existing markets with new prod- ucts using the
strategic opportunity matrix?
Market development Market
penetration Product
development
Diversification: Product development
13.U3M4L17_1 When does market penetration occur?
When a company improves its previous product in a current market
When a company increases production of a product to meet increased de- mand
When a company removes a line of products to exit a current market When a company increases
sales in a market in which its products already
exist: When a company increases sales in a market in which its products already exist
Market penetration occurs when a company infiltrates a market in which current products alread
exist. The best way to achieve this is by gaining the customers of competitors. Other ways includ
attracting non-users of your product or convincing current clients to use more of your product.
14.U3M4L17_2 What does a market development strategy do for a company?
Designs new point-of-sale experience and online storefront to give a fresh image for a company
Delivers marketing materials to customers via emails, online ads, and other
