The Strategy of Geographical Diversification of Sales as a Means of Increasing the Competitiveness of an Industrial Enterprise
- DOI
- 10.2991/iscfec-19.2019.109How to use a DOI?
- Keywords
- Increasing the competitiveness, corporate diversification, strategy.
- Abstract
Diversification strategy is a marketing strategy that allows the company to identify and develop additional business areas that differ from the current products and services. In the context of growing competition, the strategy of diversification of production becomes an excellent tool for risk management; it avoids excessive focus on one direction of the company's work. When properly implemented, the diversification strategy helps to maintain the company's efficiency and profits during the economic downturn, stagnation or a sharp change in the principles of the industry. The strategy can bring clear benefits to the firm and improve business stability, but requires a detailed assessment of the company's internal resources, environmental factors and in-depth knowledge of market trends. In this article we will tell you about the possible types and classification of corporate diversification strategies.
- Copyright
- © 2019, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Y.Y. Kostyukhin AU - A.V. Zhaglovskaya AU - G.V. Timohova PY - 2019/05 DA - 2019/05 TI - The Strategy of Geographical Diversification of Sales as a Means of Increasing the Competitiveness of an Industrial Enterprise BT - Proceedings of the International Science and Technology Conference "FarEastСon" (ISCFEC 2019) PB - Atlantis Press SP - 385 EP - 388 SN - 2352-5428 UR - https://doi.org/10.2991/iscfec-19.2019.109 DO - 10.2991/iscfec-19.2019.109 ID - Kostyukhin2019/05 ER -