Biz Solutions has 12 call centers worldwide handling customer service issues for a variety of companies. The firm is considering the purchase of a software firm that serves the oil and gas industry. According to Igor Ansoff’s Product-Market Matrix, this is an example of the ________ strategy.

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25-02-2020
Business

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Biz Solutions has 12 call centers worldwide handling customer service issues for a variety of companies. The firm is considering the purchase of a software firm that serves the oil and gas industry. According to Igor Ansoff’s Product-Market Matrix, this is an example of the ________ strategy.

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ogechukwubenedict ogechukwubenedict · Answer 1 · 2020-03-01T04:51:51+01:00

Answer: Market diversification

Explanation: Market diversification is a type of corporate strategy wherein a company acquires or establishes a business other than that of its current product. It means extending business offerings to new market segments that previously were not targeted. Biz Solutions is currently provides customer care service, by seeking to purchase a software that serves the oil and gas industry, it is attempting to diversify its markets.