When a firm expands into a new product segment, it is known as _____.
A) product recall
B) diversification
C) monopolization
D) cartelization
E) product divestment

Question

Quizplus · Accepted Answer

Diversification refers to a company expanding into new markets, product segments, or services that are unrelated to its existing business. This can involve entering new industries or developing new products that appeal to a different set of consumers.

When a Firm Expands into a New Product Segment, It