The Mattel Corporation targets children from the age of 3 and up. Fisher-Price makes toys for babies and toddlers. The Mattel Corporation recently purchased Fisher-Price for $1.1 billion. This acquisition gives Mattel a new product line aimed at the younger siblings of its current target market. By targeting the under-three group with age-appropriate toys, Mattel has implemented a _____ strategy.

Question

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Diversification: This strategy can lead the organization into entirely new and even unrelated businesses. It involves seeking new products (often through acquisitions) for customers not currently being served.

The Mattel Corporation Targets Children from the Age of 3