Innovation Strategies for Firms
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Questions and Answers

What does an Analyzer business strategy aim to achieve?

  • Defending the market through vertical integration and high-quality, reasonable pricing.
  • Developing existing markets and adjacencies incrementally with low risks. (correct)
  • Reacting quickly to market developments without a deliberate strategy.
  • Becoming the first in the market by innovative products and services.

    • In the Technology Life Cycle Model, what characterizes the specific phase?

  • Products are positioned relative to existing products.
  • Innovators make difficult choices in product development.
  • The market matures, growth slows down, and firms focus on incremental innovation. (correct)
  • The market grows quickly with multiple dominant designs.

    • What is the primary focus of a Prospector business strategy?

  • Reacting to market developments as they occur.
  • Incrementally developing existing markets with low risks.
  • Defending a market through vertical integration.
  • Aiming to be the first in the market by innovating. (correct)

    • What differentiates a Defender business strategy from other strategies?

    <p>Focusing on defending a market through vertical integration and high quality.</p> Signup and view all the answers

    What characterizes the fluid phase in the Technology Life Cycle Model?

    <p>Innovators making difficult choices in product development.</p> Signup and view all the answers

    What is the primary goal of a Reactor business strategy?

    <p>Reacting swiftly to market developments without deliberate planning.</p> Signup and view all the answers

    What is the main purpose of Innovation Strategies in helping firms?

    <p>To determine the direction of the firm's development</p> Signup and view all the answers

    Which type of Business Strategy is focused on defending a market through vertical integration and high quality?

    <p>Defender</p> Signup and view all the answers

    What characterizes a Prospector business strategy in terms of market approach?

    <p>Focusing on being the first in the market</p> Signup and view all the answers

    In which phase of the Technology Life Cycle Model does the market typically grow quickly with one dominant design emerging?

    <p>Transitional phase</p> Signup and view all the answers

    What differentiates an Analyzer business strategy from other business strategies?

    <p>Incrementally developing existing and adjacent markets with low risk</p> Signup and view all the answers

    Which phase of the Technology Life Cycle Model involves innovators making difficult choices to position a new product?

    <p>Fluid phase</p> Signup and view all the answers

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