Question
Related technology groups in diversification and marketing strategies refer to new products or services that have synergies with a company's existing products or services. For instance, a phone company that develops a camera would be a new related product with synergy to the company's existing product. On the other hand, unrelated technology groups refer to new products or services that have no synergies with a company's existing products or services. An example of an unrelated product would be a taxi service that launches a new shoe brand.
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Ansoff's matrix, also known as the product/market expansion grid, can be used to plan product growth strategies. Diversification and marketing strategies are separated into related and unrelated technology groups. Related means there are synergies between new and existing products, while unrelated has no such synergies. For instance, a phone company that develops a camera would be a new related product with synergy to the company's existing product, while an example of an unrelated product would be a taxi service that launches a new shoe brand. (Slide 25)
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