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What is Diversification- Growth Strategy?

Diversification is the growth strategy that involves launching new products or services on previously unexplored markets. It is the riskiest strategy, involving the marketing of new products and services on a unknown market.

Reasons-

  1. Growth in business operations
  2. Optimum utilization of resources
  3. Escape unattractive industry environment

Types-

  1. Horizontal
  2. Vertical
  3. Conecentric
  4. Conglomerate
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