Question

When a company decides to grow through diversification, what are the implications for the marketing planning process?

Answer 1

When a company decides to grow through diversification it will include new products, product lines, sub categories in the existing product line, there will be significant impact on the existing marketing process of the company.

The marketing division of the company will be required to think through the possible scenarios of marketing the diversification modules whether it is a new product or completely new product line.

Existing marketing will required to be corrected, amended, modified or completely recreated as per the new diversification products. This will also include syncing the marketing plans for the existing products with the new product line/ range.