what is
 






 

Question by  lash41 (8)

What is "product diversification"?

 
+7

Answer by  Hatshepsut (109)

It's a marketing term that means tapping into a new market by finding a new audience for an existing product. When a company makes one item for one group of people, there is nearly always a plateau once that need has been fulfilled. To keep growing, new versions of products or complimentary product lines can spread appeal to new groups.

 
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Answer by  noguf (162)

It is the concept of a company providing multiple products so that when a invidual market goes through tough times, the company's other successful products carry the company forward.

 
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