4: Diversification
Market new products in new markets. Other Information:
Diversification is the name given to the growth strategy where a business markets new products in new markets. This is an
inherently more risk strategy because the business is moving into markets in which it has little or no experience. For a business
to adopt a diversification strategy, therefore, it must have a clear idea about what it expects to gain from the strategy
and an honest assessment of the risks. However, for the right balance between risk and reward, a marketing strategy of diversification
can be highly rewarding.
Objective(s):
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