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Strategic Management Models Quiz

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Questions and Answers

What are the three types of innovation in the Innovation Matrix?

Incremental, breakthrough, and radical

Core, adjacent, and transformational (correct)

Disruptive, sustaining, and evolutionary

Product, process, and organizational

What is the goal of market penetration strategy?

Creating new products for present markets

Attracting new customers to existing products

Increasing market share among existing customers (correct)

Diversifying into new markets

What is the characteristic of a "dog" in the Boston Consulting Group Model?

Fast-growing market leader

Generates more cash than needed

Rapid growth but poor profit

Low growth and small market share (correct)

Study Notes

Ansoff's Matrix includes market penetration, market development, product development, and diversification strategies.
The Innovation Matrix includes core, adjacent, and transformational innovation.
The Boston Consulting Group Model uses a portfolio matrix.
Stars are fast-growing market leaders.
Cash cows generate more cash than needed.
Problem child/Question mark have rapid growth but poor profit.
Dogs have low growth and small market share.
Market penetration aims to increase market share among existing customers.
Market development attracts new customers to existing products.
Product development creates new products for present markets.

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Description

Test your knowledge of strategic management models with this quiz! From Ansoff's Matrix to the Boston Consulting Group Model, this quiz will challenge you to match key concepts with their corresponding strategies. Understand the differences between market penetration, market development, product development, and diversification strategies, and learn about the Innovation Matrix's core, adjacent, and transformational innovation. Can you identify the characteristics of stars, cash cows, problem child/question marks, and dogs? Take this quiz and find out!