Mr. Wilson has been reading about consumers' strong likelihood of paying for the convenience of having multiple products available in one location. Mr. Wilson is considering adding an extensive, full line of Italian foods and wines to add to his furniture line. Which of the below strategies is Mr. Wilson following here?

Question

Quizplus · Accepted Answer

Mr. Wilson is following the strategy of related diversification by adding a new product line that is related to his current furniture line. This strategy aims to capitalize on the synergies between the two product lines and expand the business by serving the existing customers better. In this case, Mr. Wilson is capitalizing on the consumers' likelihood of paying for the convenience of having multiple products available in one location by adding Italian foods and wines to his furniture line.

Mr Wilson Has Been Reading About Consumers' Strong Likelihood of Paying