The business strategy most likely to have been successful when cordless telephones were first introduced and began to grow as a market was that of the:
A)differentiated defender.
B)low-cost defender.
C)prospector.
D)reactor.

Question

Quizplus · Accepted Answer

When a new product is introduced and begins to grow as a market, the most successful business strategy is that of a prospector. A prospector is a company that seeks out new opportunities and is willing to take risks in order to grow and expand its market. In this case, cordless telephones were a new technology that presented an opportunity for companies to grow and expand their market. A prospector would be best equipped to take advantage of this opportunity and develop strategies to capture market share. Differentiated defenders and low-cost defenders are better suited for mature markets with established competition, while a reactor would be a company that is not proactive in responding to changes in the market.

The Business Strategy Most Likely to Have Been Successful When