Tootearendusstrateegia

Tootearendusstrateegia (Product diversification strategy) is a business strategy used by companies to expand their product offerings and reduce dependence on a single product or market. This approach involves creating new products, either by developing new technologies or expanding existing ones, to target new markets or customer segments.

The primary goal of tootearendusstrateegia is to increase a company's revenue and market share by reducing its reliance on a single product or market. By diversifying its product offerings, a company can reduce its exposure to market fluctuations, such as changes in demand or competition, and increase its overall resilience.

There are several types of tootearendusstrateegia, including:

1. Line extension: the introduction of new varieties or flavors of an existing product.

2. Horizontal extension: the introduction of new products that meet the same consumer need, but differ in terms of features or benefits.

3. Vertical extension: the introduction of new products that meet the same consumer need, but differ in terms of quality or prestige.

4. Product bundling: the packaging of multiple products together as a single offering.

Companies use tootearendusstrateegia for various reasons, including:

1. to increase revenue and market share

2. to reduce dependence on a single product or market

3. to improve customer loyalty

4. to increase competitiveness and differentiation

Examples of successful tootearendusstrateegia include the introduction of new product lines by companies such as Procter & Gamble and Unilever. These companies have used tootearendusstrateegia to expand their product offerings and increase their market share.