Vision and Strategy in Electronics Engineering Quiz
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Questions and Answers

What is the main focus of SWOT analysis?

  • Maximizing strengths and opportunities (correct)
  • Maximizing weaknesses and avoiding threats
  • Avoiding threats and managing opportunities
  • Avoiding weaknesses and managing strengths

    • In Porter's Six Forces Model, what aspect is emphasized to analyze the competitive forces in an industry?

  • Internal processes
  • Technological advancements
  • Market size
  • Competitor rivalry (correct)

    • What is the main goal of Penetration Strategies in business?

  • Encouraging existing customers to buy more of the current products (correct)
  • Competing with new entrants in the market
  • Introducing new products to the market
  • Exploring new markets for existing products

    • Which strategy does Market Development Strategies involve?

    <p>Selling existing products to new customer groups</p> Signup and view all the answers

    How is growth achieved in Penetration Strategies?

    <p>By encouraging existing customers to buy more of current products</p> Signup and view all the answers

    Which strategy involves taking market share from competitors without introducing new products?

    <p>Penetration Strategies</p> Signup and view all the answers

    What is the primary difference between Penetration Strategies and Market Development Strategies?

    <p>Target audience</p> Signup and view all the answers

    How does Penetration Strategy differ from Market Development Strategy in terms of product and market focus?

    <p><strong>Penetration Strategy</strong> focuses on <strong>existing</strong> products in <strong>existing</strong> markets, whereas <strong>Market Development Strategy</strong> involves <strong>existing</strong> products in <strong>new</strong> markets.</p> Signup and view all the answers

    What type of growth strategy does not involve anything new for the firm and relies on taking market share from competitors?

    <p>Penetration Strategies</p> Signup and view all the answers

    How does Market Development Strategy differ from Penetration Strategy?

    <p>Market Development Strategy targets new customer groups with existing products, while Penetration Strategy focuses on existing customers with new products.</p> Signup and view all the answers

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