Marketing - What is Diversification

The video tutorial discusses the importance of business growth and creating new revenue streams through diversification. Diversification involves developing new products and entering new markets, which can be challenging. It requires careful decision-making regarding product features and market targeting. Maintaining brand fit is crucial to ensure that new products and markets align with the company's brand image. Successfully achieving diversification can lead to increased revenue and business growth.

What is diversification in the context of marketing?

What are some potential challenges marketers face when diversifying?

What factors should be considered when targeting new markets?

Why is it important to keep brand fit when diversifying products?

How can successful diversification lead to business growth?