The time when expanding product variety not a good idea is that
- If the business does not have the resources to properly support the expanded product line. Launching new products can be expensive and time-consuming, and it may not be feasible for a small or resource-strapped business to take on the additional burden.
What is product expansion avbout?
Expanding product variety can be a good strategy for a business in some circumstances, but it may not always be the best choice. Here are a few situations in which expanding product variety might not be a good idea:
- If the business does not have the expertise or experience to effectively market and sell the new products. If the business is not familiar with the target market or does not have the necessary marketing and sales capabilities, it may struggle to successfully introduce and sell the new products.
- If the business is already stretched thin and cannot properly manage its existing product line. If a business is having difficulty managing its current product line, expanding the product range may only add to the burden and potentially lead to lower quality products or customer service.
Ultimately, the decision to expand product variety should be carefully considered and based on a thorough analysis of the business's resources, capabilities, and goals.
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