Business diversification by developing and releasing a new product

The relevance of the topic is that with increased competition, companies should increase and improve the quality of the product line. During the analysis, we studied the diversification of the business, the advantages and disadvantages of this method, as well as the main methods of implementation. As a result of the study, the concept of a “new product”, types of diversification of goods (horizontal, vertical and concentric) were determined, and the main advantages and risks of diversification from the release of a new product were identified.