Product diversification refers to the strategy of a company expanding its range of products or services. It means offering different and diverse products to reach a wider range of customers and reduce reliance on a single product.
Full definition
Synonyms for individual words can be found below.
«product»
«diversification»
Sentences with «product diversification»
- Companies are also attempting to reduce vulnerability through product diversification (Kolk and Pinkse, 2005). (ipcc.ch)
- Here is an explanation of a common scenario that can affect retirement income planning and the way that an additional diversification technique — known as product diversification — can help people protect future retirement income. (brighthousefinancial.com)
- As everyone knows by know, Apple's performance over the past decade is the perfect example of how important product diversification and the creation of new revenue streams is. (canadianbusiness.com)
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