Can you name me an example of diversification?
In a business, diversification is a way for a company to reach more customers by adding more to what they do. Think about NIKE. They started out making running shoes and sold them to elite athletes. Now they sell clothing, sports equipment, even water bottles! So they expanded their client base by "diversifying" or "adding to" the stuff they sell. NOTE: Not all companies sell products. Some companies offer more services as a way of diversification.
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