When Wrigley decided to focus almost exclusively on the chewing gum market and Seagram decided to enter the beverage market while also competing in the entertainment industry, both firm's were deciding their diversification strategies.

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This statement accurately describes the decision of both Wrigley and Seagram to pursue specific diversification strategies - Wrigley choosing to focus on chewing gum, and Seagram entering both the beverage and entertainment industries.

When Wrigley Decided to Focus Almost Exclusively on the Chewing