Which of the following is not one of the appeals of diversifying into unrelated businesses 2021

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Diversification is a growth strategy that involves entering into a new market or industry – one that your business doesn’t currently operate in – while also creating a new product for that new market. Nội dung chính Show Different types of diversification strategies Advantages and disadvantages of diversification Description: Original Title Available Formats Share this document Did you find this document useful? Which of The Following Is Not One of The Appeals of An Unrelated Original Title: Different types of diversification strategies There are several different types of diversification: Horizontal diversification is when you acquire or develop new products or services that are complementary to your core business and appeal to your current customers. For example, an ice-cream business adds a new type of confectionary into its product line. You may require new technology, skills or marketing approach to diversify in this way. Concentric diversification involves adding new products that have technological or marketing synergies with existing product lines or industries, but appeal to new customers. For example, a PC manufacturer starts producing laptops. You may be able to leverage your existing technologies, equipment and marketing to diversify in this way. Conglomerate diversification occurs when you add new products or services that are entirely different from and unrelated to your core business. For example, a film studio opening up an entertainment park. The risks are high, as this approach requires you not only to enter a new market, but also to sell to a new consumer base. Vertical diversification or integration is when you expand in a backward or forward direction along the production chain of your product. In this approach, you may control more than one stage of the supply chain. For example, a film distributor produces its own content, or a technology manufacturer opens its own retail store. Deciding how and when to diversify will require: detailed market research for the new product or service a thorough assessment of customer needs a clear product development strategy and market testing sales, marketing and supply chain operations able to cope with the added demands See how to diversify your business. Advantages and disadvantages of diversification There are pros and cons to each of the different diversification strategies. A successful diversification can help you: increase sales and revenue grow market share find new revenue streams achieve higher margins compared to existing products limit the impact of changes in the market On the other hand, diversification will incur development, sales and marketing costs. It will also require additional skills, management and operational resources. If these demands exceed the potential revenue and profit gains, diversification can put your business at risk. For example: diverting funds and resources into diversification may limit potential growth in core areas of your business lack of knowledge or expertise in the new industry or markets may lead to costly delays or mistakes diversifying too quickly may cause you to lose track or dilute your core products or services if you stretch your resources too widely, you may struggle to provide a consistent level of service, which can lead to dissatisfaction and customer losses In general, diversifying with similar products or services and selling them to a familiar customer base is less risky than some other business growth strategies, such as creating a product for a completely new market. Diversification can be a great way to maintain business stability. It allows you to hedge your bets and, if one of your markets or products fails, you have another to back you up until you recover. 100% found this document useful (1 vote) 1K views 26 pages Description: strategic management mcqs Original Title Which of the Following is Not One of the Appeals of an Unrelated Copyright © © All Rights Reserved Available Formats DOCX, PDF, TXT or read trực tuyến from Scribd Share this document Did you find this document useful? 100% found this document useful (1 vote) 1K views26 pages Which of The Following Is Not One of The Appeals of An Unrelated Original Title: Which of the Following is Not One of the Appeals of an Unrelated 7. Which of the following is not one of the appeals of related diversification?A. It can offer opportunities for transferring expertise, technology, and other capabilities from one business to another.B. It can offer opportunities for reducing costs and for leveraging use of a competitively powerful brand name.C.Related diversification is particularly well-suited for the use of first-mover strategies and capturing valuable financial fits.D. It may present opportunities for cross-business collaboration to create valuable new competencies and capabilities.E. The relatedness among the different businesses provides sharper focus for managing diversification and a useful degree of strategicunity across the company’s various business activities. Get answer to your question and much more 9. The basic premise of unrelated diversification is that Get answer to your question and much more

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