given the diversification approach that disney uses, what are some things that they can do to deal further with the trend toward cord-cutting and competition from large streaming and content producers such at netflix, amazon, and other content producers?

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27-10-2022
Business

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given the diversification approach that disney uses, what are some things that they can do to deal further with the trend toward cord-cutting and competition from large streaming and content producers such at netflix, amazon, and other content producers?

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tutorconsortium113 tutorconsortium113 · Answer 1 · 2022-11-04T09:30:40-04:00

A growth strategy known as diversification is expanding your business into a new market or industry while also developing a new product specifically for that market.

What is the cord-cutting trend?

Cutting the cord" is a rapidly expanding habit among Americans.Cutting the cord on expensive pay-TV services like cable and satellite TV is part of it.

For years, traditional cable television has been losing viewers.Cable is more expensive than many other services and than many people are willing to pay, which is why people have been cutting the cord.

To watch services like Netflix, Hulu, Amazon Prime Video, and HBO Max, you will need a streaming device rather than your cable box.Perhaps the app is pre-installed on your smart TV or gaming console, or perhaps you need to purchase a new streaming device like a Roku or Apple TV.
When businesses want to expand, they use a diversification approach.In order to boost revenues, it is a practice to add a new product to your supply chain.

These goods can belong to a fresh sector of the market that your organization currently serves. This process is known as business-level diversification.
The idea behind a diversification plan is to avoid putting all your eggs in one basket.It is a tried-and-true technique that is used in numerous sectors.

Vertical diversification.diversification inside conglomerates. Diversification strategy for companies selling on Amazon through third-party (or first-party) merchants simply refers to selling through numerous sellers as opposed to a single seller. Three different diversification strategies are available.
diversity within a group.Concentric diversification entails expanding the company's current product or service offering.

To learn more about diversification approach refer

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