Ansoff's Growth Matrix Quiz

What are the two dimensions of Ansoff's Growth Matrix?

• Services and Customers

• Markets and Customers

• Products and Markets

• Products and Services

Which strategy involves increasing market share in existing markets with current products?

• Market Development

• Product Development

• Market Penetration

• Diversification

How did Coca-Cola increase its market share in existing markets?

• By entering new markets

• By acquiring competitors

• By reducing prices and expanding distribution

• By introducing new products

What is the main goal of the Market Development strategy?

• To create new products for existing markets

• To improve product quality

• To diversify into unrelated industries

• To enter new markets with existing products

Which company expanded into the Chinese market as part of its Market Development strategy?

• Amazon

• Apple

• Google

• Spotify

What does the Product Development strategy focus on?

• Creating new products for new markets

• Creating new products for existing markets

• Improving existing products

• Entering new markets with existing products

Which company is known for consistently pursuing Product Development strategies?

• Samsung

• Google

• Virgin Group

• Coca-Cola

What is a key characteristic of the Diversification strategy?

• It targets existing markets

• It focuses on existing products

• It represents a significant departure from existing product-market mix

• It involves low risk

Which company exemplifies successful diversification into unrelated industries?

• Virgin Group

• Apple

• Spotify

• Amazon

What is a potential benefit of diversification?

• Significant growth and value creation

• Simplified business operations

• Reduced risk due to familiarity

• Increased dependence on a single market