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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

Find out how much you know about Ansoff's product/market matrix with this multiple-choice quiz and worksheet. For example, the quiz requires you to know about a competitive strategy that involves expanding store hours and discounting prices.

Quiz & Worksheet Goals

This quiz will assess what you know about the following:

  • The usefulness of Ansoff's matrix
  • A strategy related to opening a new store 100 miles away
  • Expanding store hours and offering discounted pricing
  • Offering new options on an existing menu
  • When a new business specializes in offering a variety of product sizes

Skills Practiced

  • Interpreting information - verify that you can read information about what Ansoff's matrix is useful for and interpret it correctly
  • Information recall - access the knowledge you've gained about a business that specializes in offering various product sizes
  • Knowledge application - use your knowledge to answer a question about opening a new store that's 100 miles away

Additional Learning

Delve further into this topic by reviewing the lesson titled Ansoff's Product/Market Matrix for Competitive Strategies. Here's the type of information you'll find in this lesson:

  • An overview of Ansoff's matrix
  • How this matrix is depicted
  • Reaching new audiences
  • The riskiest matrix choice
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