Business General U3T1 - Chapter 3 Review

Front

What best describes the maturity stage of a business?

Back

Fulfilment of the current market with limited ability to grow, indicating the business may have hit its peak

Front

Which motivation for expansion focuses on accessing broader markets to increase sales?

Back

Larger customer base

Front

A firm wants to achieve higher revenue and better return on investment by expanding. Which motivation does this align with?

Back

Profit growth

Front

Which option explains how expansion can create a competitive edge?

Back

It enables first-mover advantage and stronger market positioning

Front

Strategic planning in the maturity stage primarily aims to:

Back

Ensure long-term business viability by confirming the market and business position allow for growth

Front

Which set correctly lists the four Ansoff Matrix growth strategies mentioned?

Back

Market penetration, product development, market development, diversification

Front

Which statement best defines vertical growth in a business expansion context?

Back

Focusing on existing customers and markets to increase market share through greater sales or taking over processes

Front

Horizontal growth primarily involves which action for a business seeking expansion?

Back

Selling existing products or services to new customers in a new location, possibly with slight alterations or via acquisitions

Front

Business expansion can occur on five levels, what are they?

Back

Domestic, international, multinational, global, transitional

Front

Which description accurately captures a domestic market in the context of expansion?

Back

Markets where growth occurs within the geographical limits of the country