1. A prospector strategy typically involves which types of behavior (check all that apply - you may need to check more than one item to get full credit)
a. Leading with low prices to "dig out" market share.
b. New product development to find new markets or new customers
c. Price skimming to quickly recover development costs
d. Creating barriers to product change or isolating oneself from the effects of change
e. Engage in vertical integration
2. During the decline stage of the industry life cycle:
a. Tight cost controls leading to efficiency are a central
b. Products are highly differentiated
c. Competition is no longer based on price
d. New entrants are common
e. Demand is increasing