Consequences of Diversification

Diversification comes with a price and is a process that must be according the chapter text spreading the brand name of a business amongst new products in order with new products which can have benefits including new market audiences, market appeal and consumers, the major concern diversification has is the deviation from the focus on the main product or service, with more products comes different audiences and markets. Diversification is the process of investing in these different assets throughout a variety of products that bare a company’s established brand name, the companies: Apple, Google, Nike and Smith & Wesson can all find different ways to benefit from diversification of their brands, Google and Apple have shown success with improvements of their products as well as different versions of their products being released each year along with many different device options and software programs available to consumers. Nike had originally focused their products on active sports foot apparel and grew to include there brand on sports teams uniforms, sports equipment and other sources that involve sports activities. Smith and Wesson has a main focus on fire arms and could see possible benefits from diversification but require much more time and effort toward development of a new product which could prove to be more unsuccessful in the long term. Improvement’s upon technology products and materials continues to grow customer interest in updates and advancements which can benefit companies such as Apple and Google. While companies such as Nike and Smith & Wesson have a focus product line that requires little advancements. These investments into different areas by placing a company name throughout the market with those different products, if the investments can prove successful, if the brand name of a company has a proven success rate then the chances of success with a new product are specific to certain industry, market, economy or country. Elgan, M. (2013) Forbes, How Apple and Google became the world’s Best Brands, http://www.forbes.com/sites/netapp/2013/10/16/apple-google-best-brands/ Google (2015) About Google, http://www.google.com/about/ George, B. (2014) Google Inc’s Diversification Will Be Key to Future Success, http://www.billgeorge.org/page/insidermonkey-google-incs-diversification-will-be-key-to-future-success-bill-george

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