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Jan 24, 2024 · This article delves into 20 standout examples of diversification, showcasing how this strategy plays out in various scenarios, from small businesses branching out to multinational corporations expanding their global footprint.
Sep 21, 2023 · In this article, we will delve into the world of business diversification, exploring various strategies, real-life case studies, and the ultimate recipe for success in diversifying your business. So, whether you're a curious entrepreneur eager to expand your horizons or a strategy enthusiast seeking inspiration, fasten your seatbelts as we ...
Aug 5, 2020 · There are several routes to successful horizontal diversification; you could develop new products in-house, leveraging your existing patents and technologies, and adding new divisions. Or, you could acquire other businesses who already have these capabilities.
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- Diversification Strategy Explained
- The Risk Factor in Diversification Strategy
- Types
- Example
- Advantages of Diversification
The diversification strategy is often opted for by companies that have established a reputation domestically. This gives them scope for growth and enables them to expand to new markets or introduce new products. Usually, there are four approaches to product expansion that businesses can follow. The first strategy is market penetration, in which a c...
Having understood the basics of diversification, it is now important to know the risk associated with product diversificationstrategy. Diversification can be risky for two reasons – new products and new markets. Introducing any product into a new market involves a lot of research to understand the people. If the new product does not appeal to the l...
The three main diversification strategies are based on the approach undertaken – concentric, horizontal, and conglomerate diversification.
Now let's discuss the real-life example of Amazon's diversification strategy. Amazon is a multinational company that provides various online services such as e-commerce, cloud computing, email delivery, online video, music streaming, e-payment, and affiliate marketing. Apart from this, Amazon also introduced a virtual assistant, Alexa, in 2014. Fur...
Nevertheless, diversification is a good approach for big corporations. It has many advantages and helps businesses explore new opportunities and serve diverse markets. Hence, companies will get higher reach, better brand reputation, and increased profitability. It also gives the companies a competitive edge. Consider the case of Disney diversificat...
Jan 24, 2020 · Learn all about diversification strategy, including why companies diversify, types of diversification, and real-world examples.
Jan 6, 2024 · Diversification can completely transform a business - here are some of the best examples of business diversification in action, including Apple and Amazon.
Sep 21, 2023 · Successful diversification strategies can result in increased market share, revenue growth, and resilience to market fluctuations. However, it is crucial to carefully assess and manage potential pitfalls.
