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Diversification is a corporate strategy to enter into or start new products or product lines, new services or new markets, involving substantially different skills, technology and knowledge. Diversification is one of the four main growth strategies defined by Igor Ansoff in the Ansoff Matrix : [ 1 ]
Horizontal integration is the process of a company increasing production of goods or services at the same level of the value chain, in the same industry. A company may do this via internal expansion or through mergers and acquisitions .
Concentric diversification: Introducing a similar product within the existing product line with the purpose of leveraging existing expertise to expand the product range. Horizontal diversification: Introducing an unrelated new product alongside existing offerings with the objective of reaching new customer segments and reducing dependence on a ...
The medicine industry is an example of a vertical market. A vertical market is a market in which vendors offer goods and services specific to an industry, trade, profession, or other group of customers with specialized needs.
Economic diversity or economic diversification refers to variations in the economic status or the use of a broad range of economic activities in a region or country. [1] Diversification is used as a strategy to encourage positive economic growth and development. [ 2 ]
Diversification (finance) involves spreading investments; Diversification (marketing strategy) is a corporate strategy to increase market penetration; Diversification of firms through mergers and acquisitions
Horizontal integration, when a company increases production of goods or services at the same level of the value chain and in the same industry (e.g via internal expansion, acquisition or merger) Vertical integration , when the supply chain of a company is integrated and owned by that company (i.e. integration of multiple stages of production)
Horizontal mobility is the mobility of the individual or group in the same social class, in the same situation category, without changing the level of power or status. [1]