Question

The major diversification strategy through which products are produced that are technically similar to the company’s current products but appeal to a new consumer group is:

Answer 1

Answer:

a. Concentric diversification

Explanation:

The concentric diversification is a diversification in which a company purchased or developed its new products that are closely related to that product in which the company is dealing in order to enter one or more markets

Here in the given situation, since the company produced that product that are same to their current markets so that they could enter into a new customer group so this represents the concentric diversification