A company is contemplating a significant (5%) growth in its market share over the next three years. To accomplish this, the senior team has been debating whether to add one or new products for current markets or to offer current products to new markets. What strategic issues are involved in these two directions?© BrainMass Inc. brainmass.com June 4, 2020, 1:47 am ad1c9bdddf
Adding new product for current market is called product diversification where the company brings new product in the current market. It works when the company has a very good brand value in the market. Here ...
This 127 word solution briefly discusses product diversification and market development.