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Homework answers / question archive / A firm's expansion into other geographic locations and/or increasing the range of products and services offered to current markets is called A) forward vertical growth

A firm's expansion into other geographic locations and/or increasing the range of products and services offered to current markets is called A) forward vertical growth

Marketing

A firm's expansion into other geographic locations and/or increasing the range of products and services offered to current markets is called

A) forward vertical growth.

B) diversification.

C) backward vertical growth.

D) captive company strategy.

E) horizontal growth.

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Option E) horizontal growth is correct

This option is correct because horizontal growth is a growth in which products are expanded into a new market. The main objective of expanding the product is to cover the target audience. This is done by internal expansion or through a merger. It is different from vertical growth in which it is increasing and expanding in a new supply chain.

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