Again, research is key to success. Increased competition between brands of the same company Another risk when establishing business Telephone Number List diversification strategies is creating two brands without a differentiated brand identity. It's like putting two brothers to compete! To avoid this, map the specific pain points for each of your niches and create Telephone Number List products that fit perfectly with them. It complements with actions to humanize the brands to print a unique characteristic to each one of them. This is what Disney does Telephone Number List with its various products like Disney Channel, Disney XD, Star Channel, etc.
Even its theme parks have different essences from each other. As you can see, Disney does not make its brands compete directly, but manages Telephone Number List them according to the tastes of its target audiences and makes them complementary. Examples of companies with successful diversification strategies Uber The chauffeured transportation service Telephone Number List giant carried out a horizontal diversification strategy by launching the Uber Eats platform. Although serving a different need, the company uses the same Telephone Number List technological and operational resources to provide both services.
Samsung Founded as a product import-export company, today Samsung is a success story of conglomerate diversification Telephone Number List strategies. Among its various lines of business are consumer electronics, biotechnology, construction, finance and mobile telephony, among others. Moz Moz started as a blog and online community where SEO Telephone Number List specialists shared their research and ideas. After transforming into a consulting firm, Moz diversified vertically and is today one of the most widely used Telephone Number List SEO tools in digital marketing.