Michael Giannulis

Michael Giannulis – Ultimate Business Growth Through Product Diversification

Nowadays, you will come across companies that are heading towards the art of product diversification. Before proceeding further towards this term, it is time to learn more about it. Experts like Michael Giannulis are always there to help you with the right meaning behind this term. Product diversification is mainly subjected as a strategy, which is thoroughly employed by the firm. The main goal here is to increase the level of profitability and then achieve. Some higher sales volume from some of the new products.

Two options dedicated to it:

Diversification can easily take place at quite a high end business level. It can also work out on the corporate level as per the convenience.  However, there are two options stated when it comes to product diversification that you want to learn more about.

  • You have the business level based product diversification. It is when you get to expand it into new segment of industry that the firm is presently running in.
  • Then you have the corporate level based product diversification. Here, you get to expand right into new industry, which remains beyond the current scope of current business unit of the firm.

Heading towards market diversification by Michael Giannulis:

Just like product diversification, you might want to learn more about market diversification as well. The diversification definition is likely to highlight some of the common reasons on when companies are willing to diversify the market. Along with some generic growth objectives, companies are also using marketing based diversification.

  • The main aim over here is to find that added income source and then to challenge a competitor.
  • Spreading business risks across various marketing segments will lower the current potential of main failure in case the market. Dies up or just becomes less fruitful with passing time.
  • Then moving towards another market, which is proficiently occupied by any competitor, will make the right sense. As the market remains familiar with the offering and you have to move towards a market with better value.

Benefits associated with product diversification according to Mike Giannulis:

It is a proven fact that new items will offer added revenue sources and will spread risks right across various items. Some of the business experts like Mike Giannulis even points out that the cyclical or the seasonal companies are here to add some new items. As ways to fill in, right during the slow seasons or off-seasons for their primary items.

Brands with a stronger recognition and presence can use the power of established brand reputation. To be a part of delivering messages about the main product offerings.

Go with the experts for that:

In order to learn more about not just product diversification, but also about market diversification. Make sure to log online and catch up with the professionals here. They are more than ready to offer you promising options and some challenges that might come along the way. In the end, it is all about ultimate business growth to the next level.

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