Analysis of businesses in Ecuador to offer or diversify new products or enter new markets

Abstract

Introduction. Business diversification involves strategic expansion into new products, services, or markets, offering companies opportunities to mitigate risks, take advantage of synergies and strengthen their position in a competitive environment. Aim. Expand the companies' portfolio to reach new market segments to enhance growth by satisfying various consumer needs. Methodology. The research design was based on the positivist research paradigm, type of research, non-experimental and transversal field design with documentary support, level of descriptive research, sample of 384, the questionnaire instrument was used, validated through expert judgment. Results. 38% of the participants in the survey indicated that they had chosen to incorporate new products or services into an existing line as part of their strategy. In addition, 30% indicated that they had decided to manufacture products or provide services that they previously acquired from third parties. Regarding related or horizontal diversification, which represents 25%, this refers to the introduction of products or services linked to the main activity of the company. On the other hand, unrelated or conglomerate diversification, representing 7.13%, stands out as a riskier strategy to enter new markets. Conclusion. Productive diversification is presented as a fundamental strategy, providing companies with the possibility of reducing risks, discovering new possibilities, and strengthening their capacity to adapt in a constantly changing business context. General study area: Management of organizations with social responsibility, entrepreneurship, and innovation. Specific study area: Quality, Productivity, Social Responsibility and Marketing.