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Ansoff's Product/Market Matrix for Competitive Strategies

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Ansoff's matrix is useful for what?

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1. Joanie wants to open a new store location 100 miles from her existing shop. Which of these strategies is she considering?

2. Tom has decided to expand his store hours and offer discounted pricing on his existing line of pet supplies. Which strategy is Tom considering?

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About This Quiz & Worksheet

This quiz and worksheet checks your understanding of what the Ansoff Product/Market matrix is and how it helps business leaders make decisions. You will also review common product and market terminology.

Quiz & Worksheet Goals

This quiz and worksheet focuses on testing what you know about:

  • What is Ansof's matrix useful for
  • Strategies that include opening additional shops or locations
  • The type of strategy that involves expanding hours and discounting products
  • The strategy that includes expanding a product line

Skills Practiced

  • Distinguishing differences - compare and contrast the different strategies in Ansoff's matrix to understand examples of each
  • Knowledge application - review what you know about why Ansoff's matrix is useful to answer a question about it
  • Information recall - access your knowledge of what strategy opening a new business in a new area might be

Additional Learning

If you want to find more details about this topic, you can look in the lesson, Ansoff's Product/Market Matrix for Competitive Strategies. This lesson provides a more extensive review of:

  • Where the matrix was first published
  • A visual of the matrix
  • Naming the four types of strategies represented in the matrix
  • Definitions and examples of the four types of strategies
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