Adding a Related or Complementary Product to a Corporation's Business

question 37

Multiple Choice

Adding a related or complementary product to a corporation's business units is called

• A) concentration.
• B) horizontal growth.
• C) concentric diversification.
• D) vertical growth.
• E) conglomerate diversification.

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Definitions:

Product-Market Growth Analysis

An analytical tool used to determine the best strategy for business growth by analyzing existing and potential products and markets.

SWOT Analysis

A strategic planning tool used to identify and understand the Strengths, Weaknesses, Opportunities, and Threats related to a business or project.

Porter's Generic Strategies

A framework that outlines three strategies for achieving competitive advantage: cost leadership, differentiation, and focus.

Sustainable Differentiation

Creating long-term competitive advantage by developing unique product features, services, or practices that are difficult for competitors to replicate.