Concentric diversification is a means of ensuring rapid market growth.

Name: Concentric diversification is a means of ensuring rapid market growth.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Concentric diversification focuses on adding new but related products or services to an existing business to appeal to an existing customer base or to new customers who are similar to the current ones. It aims at leveraging existing capabilities and markets for gradual growth rather than rapid market expansion.

Concentric Diversification Is a Means of Ensuring Rapid Market Growth