A family owns a gelato business next to a small town's park, a favorite place for parents and children to stop on their way home from work or school. However, the business owner is barely making ends meet. In addition to running his store, he begins selling hand-made flies on the Internet for professional sports fishermen. This is an example of a __________ strategy.

Question

Quizplus · Accepted Answer

The business owner is entering a completely new market (professional sports fishermen) with a new product (hand-made flies), which is an example of diversification.

A Family Owns a Gelato Business Next to a Small