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Market Expansion Strategies Quiz

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Questions and Answers

What is the main focus of companies in the 'market expansion' quadrant of The Innovation Matrix?

Operational excellence
Expanding into new markets rapidly (correct)
Continuous experimentation
Customer intimacy

Which of the following quadrants of The Innovation Matrix is most associated with customer engagement strategies?

Customer intimacy (correct)
Disruptive innovation
Operational excellence
Market expansion

Which quadrant of The Innovation Matrix focuses primarily on improving efficiency and reducing costs?

Market expansion
Continuous experimentation
Disruptive innovation
Operational excellence (correct)

What strategy best characterizes the actions of companies aiming for disruptive innovations?

<p>Continuous experimentation (D)</p> Signup and view all the answers

Which of the following strategies is least likely to be a priority in the 'market expansion' quadrant?

<p>Developing operational efficiencies (C)</p> Signup and view all the answers

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Flashcards

Market Expansion Quadrant

Companies in this quadrant prioritize expanding into new markets quickly, often by leveraging their existing strengths and resources.

Operational Excellence

This refers to how efficiently a company operates, minimizing costs and maximizing output.

Customer Intimacy

This involves building strong, long-term relationships with customers by understanding their needs and providing tailored solutions.

Continuous Experimentation

This is a core aspect of the 'New Product/Service' quadrants of the Innovation Matrix, focusing on rapid experimentation and adaptation to changing market conditions.

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Disruptive Innovation

This involves introducing radical innovations that disrupt existing markets and create new ones - often challenging existing leaders.

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Study Notes

Market Expansion Quadrant Focus

Companies in the "market expansion" quadrant prioritize rapid expansion into new markets.
This strategy is distinct from focusing on operational excellence, customer intimacy, continuous experimentation, or disruptive innovation, which are the strategic priorities of other quadrants on the Innovation Matrix.

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