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Topic: Business diversification

Business diversification is the strategy of a company expanding into new markets, products, or services to reduce risk and achieve sustainable growth.

More on: Business diversification

The podcast episodes highlight several examples of business diversification strategies, where companies have expanded beyond their core products or services to drive growth and adapt to changing market conditions.

For instance, the episode on Spin Master and PAW Patrol showcases how the toy company diversified into media and entertainment, launching successful franchises like PAW Patrol. Similarly, the episode on craft brewers diversifying into winemaking illustrates how companies in the beverage industry are expanding their offerings to stay competitive.

The GoPuff episode further explores diversification efforts, as the company looks to expand into areas like advertising and kitchens to improve profitability and find new growth avenues amidst the changing quick commerce landscape.

All Episodes