If a company is using a prospector business strategy,its market is stable,its product is mature,and it wants to increase market share by "digging" for new customers with new products.

Question

Quizplus · Accepted Answer

A prospector business strategy is typically employed in a dynamic and uncertain market where a company seeks to innovate and introduce new products to gain a competitive advantage. It is not typically used in a stable market with mature products. In this scenario, a company might be better suited to use a defender strategy to maintain its market position and protect against competitors.

If a Company Is Using a Prospector Business Strategy,its Market