I need help relying to a discussion.    Discussion post: Product…

THEREALBRANDXN I need help relying to a discussion.    Discussion post: Product…I need help relying to a discussion.  Discussion post: Product diversification is a strategy employed by a company to increase profitability and achieve higher sales volume from new products. Diversification can occur at the business level or at the corporate level. Diversification is one of the four main growth strategies illustrated by Igor Ansoff’s product/market/matrix. The three main types of diversification techniques are concentric diversification, horizontal diversification and conglomerates diversification.Concentric diversification. This is a business growth technique that entails extending the company’s product line to attract new customer or clints. It is also known as convergent diversification, and it involves developing new goods within an existing brand. Concentric diversification is often the first step a company takes when growing its product lines Pepsi is a very good example of company using concentric diversification successfully. The company started out as a producer of soda syrup and eventually diversified into the product of soft drinks.Horizontal diversification. This is a method of product diversification that adds new products to a company’s line that are meant to serve existing customers. When a company decides to use horizontal diversification, they might add products to one of their current products lines that do not relate to the other product line. This can allow for new products to appeal to customers that already make purchases at a business by offering new ways to meet their needs. An example is Apple from computers to Mp3 players and phones. For decades Apple was a brand strongly rooted in the computer and software segments of the tech industry. From 1976 onward, they created iconic computers such as the Macintosh series, but by the late 1990’s the company was struggling in this market, falling way behind its main rival Microsoft and their hardware partners. Under the guidance of Steve Jobs, however, the company fortunes changed drastically, with the groundbreaking launch of the iMac and iBook series in 1997. With the rise of digital music downloads, the iPod was also a success upon its release in 2001, but their biggest success in product diversification was undoubtably the launch of the first iPhone in 2007.Conglomerates diversification. This type of diversification involves adding new products or services that are significantly unrelated and with no technological or commercial similarities. For example, if a computer company decides to produce notebooks, the company is pursuing a conglomerate diversification strategy.  Johnson & Johnson is one classic example of conglomerate; the company is very famous because of its baby products but it is a conglomerate and works with diversified companies and also deals in medicines, medical instruments, parks trusts and so on.BusinessBusiness – Other