Narrow diversification: Involves adding products similar to existing ones

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Diversification into new markets: The company enters new geographic markets. For example, a local manufacturer begins exporting its products abroad.
Diversification into new segments: Targeting different audiences. For example, a sportswear company launches a line for children.
By degree of novelty:
Wide diversification: Includes completely new lines of business.
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Benefits of Diversification
Diversification has several key benefits that make it attractive for business:
Risk reduction. Expanding the product range and entering new markets allows the company to minimize the impact of unfavorable factors, such as a downturn in one of the industries.
Increased Revenue: Launching new products or services list of senegal whatsapp phone numbers creates additional revenue streams that can significantly improve a company's overall financial performance.
Increased competitiveness. Diversity in offerings helps a company stand out from its competitors and attract a new audience.
Resilience to change. Diversified companies are better able to adapt to changes in the economic environment, which increases their chances of surviving a crisis.
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Incorporate diversification into your business strategy and watch its positive impact on your results. Your advertising agency «Pro DGTL» is ready to help you with this, offering professional services in marketing and promotion.