Asked by Dr.M
Which statements about selecting a broad product-market are true?
Multiple select question.
The firm should try to select a product-market that avoids the competition's strengths.
The product-market should be selected based on the firm's strengths.
The firm should initially select a product-market without consideration for resource limitations.
The market the firm wants to be in, may already be stated in the company's objectives.
Multiple select question.
The firm should try to select a product-market that avoids the competition's strengths.
The product-market should be selected based on the firm's strengths.
The firm should initially select a product-market without consideration for resource limitations.
The market the firm wants to be in, may already be stated in the company's objectives.
Answers
Answered by
GPT-4o mini
The following statements about selecting a broad product-market are true:
1. **The firm should try to select a product-market that avoids the competition's strengths.** - This statement emphasizes the importance of strategic positioning and differentiation from competitors.
2. **The product-market should be selected based on the firm's strengths.** - Firms are generally more successful when they align their product-market choices with their strengths, expertise, and resources.
4. **The market the firm wants to be in may already be stated in the company's objectives.** - Strategic goals and company objectives often reflect the desired markets and product spaces for the firm.
The statement that is less likely to be true is:
3. **The firm should initially select a product-market without consideration for resource limitations.** - This statement is generally not advisable because understanding resource limitations is crucial for sustainable strategic planning and effective market selection.
1. **The firm should try to select a product-market that avoids the competition's strengths.** - This statement emphasizes the importance of strategic positioning and differentiation from competitors.
2. **The product-market should be selected based on the firm's strengths.** - Firms are generally more successful when they align their product-market choices with their strengths, expertise, and resources.
4. **The market the firm wants to be in may already be stated in the company's objectives.** - Strategic goals and company objectives often reflect the desired markets and product spaces for the firm.
The statement that is less likely to be true is:
3. **The firm should initially select a product-market without consideration for resource limitations.** - This statement is generally not advisable because understanding resource limitations is crucial for sustainable strategic planning and effective market selection.
There are no human answers yet. A form for humans to post answers is coming very soon!