The concept describes the key marketing principle of diversification. Using real case study examples, it explains how a diversification strategy can be used to increase existing market share and penetrate new markets.
Diversification is the means of reaching new markets through new or more varied products (Ansoff, 1957). It is a means of spreading the base of a business and the extent to which firms are active simultaneously in several different businesses (Booz et al., 1985; Ramanujam & Varadarajan, 1989).
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Diversification References (4 of up to 20) *
- Ansoff, H. I. (1957). Strategies for Diversification. Harvard Business Review. (Vol. 35 Issue 5, Sep/Oct). p113-124.
- Booz-Allen and Hamilton (1985) A survey of European chief executives. New York.
- Breitsein, J. (2006) The Case for Diversity, Pharmaceutical Executive, Vol .26 (11), p. 138.
- Ellis, J. and Williams, D. (1995) International Business Stratgey, Pitman Publishing.
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