Lesson 2.15.1
2.15.1 Ansoff's matrix Quiz: OCR Business, Unit 2
20 questions
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Lesson 2.15.1, Ansoff's matrix: 20 multiple choice questions for the OCR Business (H431), Unit 2: Business objectives and strategy, written with Revision Ninja.
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The 20 questions
-
Which two dimensions form the axes of Ansoff's matrix?
- Risk and reward
- Costs and revenues
- Price and demand
- Products and markets
-
What strategy involves selling existing products in existing markets?
- Market development
- Market penetration
- Product development
- Diversification
-
What strategy involves selling new products in existing markets?
- Product development
- Market penetration
- Diversification
- Market development
-
What strategy involves selling existing products in new markets?
- Market penetration
- Market development
- Product development
- Diversification
-
What strategy involves launching new products into new markets?
- Market penetration
- Product development
- Market development
- Diversification
-
Which strategy on Ansoff's matrix carries the highest risk?
- Product development
- Diversification
- Market development
- Market penetration
-
Which strategy on Ansoff's matrix carries the lowest risk?
- Market development
- Diversification
- Market penetration
- Product development
-
A UK bakery selling its existing biscuits in France is using which strategy?
- Market penetration
- Product development
- Market development
- Diversification
-
A phone maker developing a smart watch for its existing phone users is using which strategy?
- Market penetration
- Product development
- Market development
- Diversification
-
A gym launching a TV advertising campaign to gain local members uses which strategy?
- Diversification
- Market penetration
- Product development
- Market development
-
A supermarket chain launching an airline business is an example of which strategy?
- Diversification
- Product development
- Market development
- Market penetration
-
Moving into a completely unrelated industry and market is known as what type of diversification?
- Vertical
- Conglomerate
- Horizontal
- Concentric
-
Diversifying into a new market that aligns with current business technology is called what?
- Vertical
- Horizontal
- Conglomerate
- Concentric
-
Which Ansoff strategy heavily relies on competitive pricing and aggressive marketing?
- Market penetration
- Product development
- Diversification
- Market development
-
What is a primary reason for a business to choose product development?
- Zero R&D cost
- High customer loyalty
- Guaranteed high yield
- No market research
-
Repackaging existing items to target a younger age group is which Ansoff strategy?
- Diversification
- Market development
- Product development
- Market penetration
-
What is the main operational drawback of pursuing a diversification strategy?
- Low profit margins
- Excess capacity
- Lack of experience
- High tax rates
-
Which growth strategy relies most heavily on investment in Research and Development?
- Product development
- Market penetration
- Market development
- Asset stripping
-
Changing distribution channels to sell existing goods online represents which strategy?
- Diversification
- Market development
- Market penetration
- Product development
-
Who originally devised the Ansoff Matrix strategic planning tool in 1957?
- Elton Mayo
- Michael Porter
- Igor Ansoff
- Frederick Taylor
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