Marketing - What is Diversification?
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All right so as marketers we often have
to find ways to grow the business and to
create new revenue streams. So
one strategy we have for that is what's
Diversification is when we come up with
new product ideas
and we look to new markets in which to
sell those products
so it's really almost like starting a
and that can be tricky so we have to be
really careful about the decisions that
regarding the product and its features
as well as which markets we really want
to try to target or sell to.
And so one of the keys to that
navigating that trickiness is to make
sure we keep our
brand fit in other words the products
that we create
and the markets that we try to sell
ought to mesh with the brand and brand
image that we have as a company.
If we can do that if we can come up with
these brand new products and
and target them at brand new markets
while keeping our brand image intact
that should be a way to succeed at
and that diversification should lead to
more growth in our revenue and in our
If so, then we'll be successful.