According to the Grand Strategy Matrix,which strategy is recommended for a firm with rapid market growth and a strong competitive position?
A)Conglomerate diversification
B)Retrenchment
C)Market penetration
D)Joint venture
E)Liquidation

Question

Quizplus · Accepted Answer

According to the Grand Strategy Matrix, when a firm has rapid market growth and a strong competitive position, it should focus on market penetration. This strategy involves increasing market share in existing markets through aggressive marketing and sales efforts, and is a good choice when a company has a strong foothold in its industry and sees potential for growth through increased sales. Conglomerate diversification, retrenchment, joint ventures, and liquidation are not recommended strategies in this scenario.

According to the Grand Strategy Matrix,which Strategy Is Recommended for a Firm