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8 February, 04:04

Substantial changes to the range of offerings or the markets served or both are known as:

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  1. 8 February, 07:21
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    This is known as 'Diversification'

    A business is said to ''diversify'', if they launch a slight different or a completely new product to cater to either cater to their current consumers or to target a new demographic market.

    This is one of the best ways that a company can improve their revenue, acquire new customers, and lower their dependence on a few products.
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