Product Diversification Strategies Research Articles

Enhancing Income for Farmer Producer Organizations (FPOs) through Ginger Value Addition: Opportunities, Strategies and Market Insights

Ginger (Zingiber officinale) is one of the most valuable spices globally, known for its culinary, medicinal, and industrial uses. As a primary cash crop in many regions, it offers substantial income opportunities for smallholder farmers. However, the traditional farming and marketing methods often limit the potential earnings of smallholder farmers. This review explores the concept of value addition in ginger, focussing on post-harvest processing, product diversification, packaging innovations, and market expansion strategies. It further highlights how Farmer Producer Organizations (FPOs) can leverage these techniques to improve profitability and sustainability. The paper also discusses the challenges faced by FPOs, such as financial constraints and market access barriers, while highlighting opportunities supported by government policies and technological advancements. Advanced processing techniques, improved package, branding, and exploring new markets would achieve profitability and sustainability of FPOs. The reduction of value chain and directly paying to the farmers give opportunity to the consumers to get the ginger products at better prices.

Praktik Ekonomi Lokal Masyarakat Melalui Bisnis Mangga dalam Perspektif Fikih Muamalah

This research aims to examine community economic empowerment through the mango business from the perspective of muamalah fiqh in Oro-Oro Ombo Kulon Village, Rembang District, Pasuruan Regency. Using a descriptive qualitative approach, this research identifies the economic potential of the mango business in the village and analyzes the application of muamalah fiqh principles in every aspect of the business. The research results show that Oro-Oro Ombo Kulon Village has great potential in mango cultivation and economic empowerment through this business has had a positive impact on the local community. The application of the principles of muamalah fiqh, such as justice, transparency and honesty, in the mango business also creates an ethical and sustainable business environment. This research provides recommendations for infrastructure development, training, product diversification, collaboration, and marketing strategies that can increase the effectiveness of economic empowerment through the mango business and create a business model that is in accordance with Islamic principles.

Risk Management in Product Diversification: The Role of Managerial Overconfidence in Cost Stickiness—Evidence from Iran

Purpose: This study investigates the relationship between product diversification strategy and cost stickiness, focusing on managerial overconfidence as a moderating factor. It aims to address a critical gap in the literature by providing empirical insights grounded in the Resource-Based View (RBV) theory, specifically examining firms listed on the Tehran Stock Exchange. Methodology: Utilizing a sample of 149 companies from the Tehran Stock Exchange in Iran spanning from 2015 to 2021, this study tests two hypotheses: (1) a positive relationship between product diversification and cost stickiness and (2) the amplification of this relationship by managerial overconfidence. Product diversification is quantified using the Herfindahl Index, while managerial overconfidence is measured through an investment-based index derived from capital expenditures. Cost stickiness is assessed by analysing the asymmetric behaviour of costs in response to changes in sales, focusing on how costs tend to remain high even when sales decrease. Findings: The empirical results substantiate both hypotheses, demonstrating a significant positive relationship between product diversification strategy and cost stickiness. Furthermore, managerial overconfidence amplifies this relationship, highlighting the role of internal resources and managerial perceptions in shaping cost behaviour. Originality: This study contributes substantially to the literature by being among the first to empirically examine the interplay between product diversification strategy, cost stickiness, and managerial overconfidence. Extending the RBV theory to cost behaviour and strategic management provides novel insights for scholars and practitioners in entrepreneurship, corporate strategy, and organizational behaviour. The findings underscore the importance of strategic choices and managerial traits in determining cost stickiness, offering valuable implications for financial analysts, auditors, and stakeholders.

Strategi Promosi Melalui Media Sosial Instagram Di Langgeng Florist Bali

Langgeng Florist Bali is one of the flower businesses in the Jimbaran area which was established in 2013 and has experienced very fast development. This development is supported by promotional strategies carried out on Instagram social media to introduce the products or services they have. The aim of this research is to determine the promotional strategy for Langgeng Florist Bali which is carried out through Instagram social media. Data collection techniques were carried out using interview and documentation methods. The data obtained was then analyzed using the SWOT analysis technique by combining internal and external factors. The research results show that the Instagram social media strategy implemented is as follows: (1) participating in events or exhibitions and posting these moments via Instagram stories. (2) working with influencers or popular accounts to collaborate to create interesting content about flowers, (3) creating interesting and creative visual content by utilizing Instagram features such as reels, guides, or shopping (4) carrying out product and service diversification strategies services such as wedding decorations, (5) identifying market segments and determining the market segments that best suit Langgeng Florist Bali's products and services.

MCDM Application on Indonesia Halal Food Development Strategy

This study tries to find strategies for the development of the halal food industry in Indonesia with one of the MCDM approaches, namely ANP. Based on the experts' answers, the results show that the biggest weight in the development of halal food in Indonesia is the strategy of strengthening the halal value chain ecosystem (0.33). Next are aspects of strengthening the local market (0.25) and aspects of institutional effectiveness (0.19). Last but not least is the product diversification strategy (0.16). Based on the results of this study, regulators can develop policies that support the establishment of halal centers as part of strengthening the value chain ecosystem. This can be done by providing fiscal incentives, technical assistance, and licensing that facilitate the establishment of halal centers. Then, regulators are expected to further encourage the standardization of domestic halal products by developing policies that facilitate the standardization process, including standard development, certification, and supervision of halal products.

Assistance for UMKM Based on Semarangan Local Wisdom Through Product Diversification Strategies and Electronic Tular Getok

Assistance for UMKM Based on Semarangan Local Wisdom Through Product Diversification Strategies and Electronic Tular Getok

Training on Floating Cage Product Diversification Strategy in Margaluyu Village, Pangalengan, Bandung

Training on Floating Cage Product Diversification Strategy in Margaluyu Village, Pangalengan, Bandung

Dinamika Perkembangan Industri Tenun H. Ridwan By di Nagari Kubang, Kecamatan Guguak, Kabupaten Lima Puluh Kota (1961-2019)

This article examines the development of the H. Ridwan By weaving industry in Nagari Kubang from 1961 to 2019, spanning three leadership periods: Ridwan, Risna, and Yulia Rahmi. Employing a historical research method, involving heuristic data collection (archival documents, interviews), source criticism, interpretation, and historiography, the study reveals the evolution of the industry from its inception as a family-owned business in 1961. The research highlights significant advancements across leadership transitions, encompassing new motifs, product diversification, workforce expansion, and marketing strategies. These developments have positively impacted the sustainability of the H. Ridwan By weaving enterprise, ensuring its continued existence until 2019.

EFFECT OF PRODUCT MARKET MATRIX ON THE PERFORMANCE OF MEDIUM ENTERPRISES IN NORTH CENTRAL, NIGERIA

This research work examined the effect of product market matrix on the performance of medium enterprises in North Central, Nigeria. The researcher used primary data source from a sample of three hundred and eighty four (384) respondents obtained by the use of a structured questionnaire. The data collected was analyzed using descriptive statistics such as frequency, simple percentage and the relationship between the variables of the model were tested using multiple linear regression analysis. The hypotheses of the study were tested using the probability value of the regression estimates. The result of the regression analysis indicates that Market penetration strategy's regression coefficient is 0.401 and significant (p0.05). Product development strategy is -0.059 and negligible (p0.05). A one-unit increase in product development decreases medium firm performance by 0.059 units. A one-unit increase in market development strategy increases medium firm performance by 0.196 units (p0.05). Product diversification approach has a strong coefficient of 0.319. This means a one-unit improvement in product diversification strategy increases medium firm performance by 0.319 units. It was concluded that businesses must consider the region's market conditions, competitive hurdles, and client behaviors to flourish. It was recommended among others that Market Penetration and Product Diversification Strategies are advised for medium enterprises in North Central Nigeria due to their benefits. Expanding market share and targeting existing clients can increase performance. Diversifying products to fulfill client needs can enhance revenue and performance. Firms should use both methods to optimize profits.

The Effect of Product Diversification and Brand Equity on Purchase Decisions With Promotion Strategy as a Moderator

Product diversification and brand equity are two critical factors that can influence consumer purchasing decisions. Product diversification can expand the range of products and services available to consumers, while brand equity can create trust and consumer loyalty. Promotion strategies can also serve as a moderator in the relationship between product diversification and brand equity with purchasing decisions. This research aims to analyze the impact of product diversification, brand equity, and promotion strategies on purchasing decisions. This study uses the Structural Equation Modeling (SEM) method with the assistance of Smart PLS software. The Hair method is used to determine the sample size, resulting in 140 respondents. The research results show that product diversification and brand equity have a positive influence on purchasing decisions. Promotion strategies play a moderating role that strengthens the influence of product diversification and brand equity on purchasing decisions, with the coefficient of determination analysis showing a figure of 72.6%, while the remaining 27.4% is influenced by other unexamined factors. Implications for companies indicate that companies aiming to enhance consumer purchasing decisions need to pay attention to two aspects: product diversification and brand equity. Product diversification can be achieved by offering a variety of products that can meet the diverse needs and desires of consumers. Brand equity can be built by creating trust and consumer loyalty. Furthermore, companies also need to use appropriate promotion strategies to enhance consumer purchasing decisions. Promotion strategies can be used to influence consumer perceptions of the products or services offered.

Association between corporate diversification strategies and inventory performance: a firm-level investigation

PurposeThis research aims to empirically investigate the impacts of product and international diversification strategies on firm-level inventory performance.Design/methodology/approachThis study empirically examines the associations between product and international diversification strategies and inventory performance based on a sample of 64,124 observations across 7,367 US publicly traded firms between 1989 and 2019 from the COMPUSTAT Segment, Fundamental Annual and Fundamental Quarterly data files. We employ both linear and nonlinear regression models to perform our empirical analysis.FindingsThis research provides strong evidence that there exists a U-shaped relationship between unrelated product diversification and inventory level and a partially inverted U-shaped relationship between international diversification and inventory level. We also find a positive impact of related product diversification on inventory level, but there is no significant curvilinear relationship between related product diversification and inventory level.Practical implicationsOur research findings offer important insights into top management’s strategic planning for diversification strategies and operations manager’s inventory control policies to achieve the strategic fit between corporate diversification and inventory management.Originality/valueProduct and international diversification strategies not only play an essential role in the firm’s competitive advantage, but also have a significant influence on operations manager’s inventory decision. This research is among the first to systematically investigate how top management’s related product, unrelated product and international diversification strategies may have complex nonlinear impacts on inventory performance.

The Financing Decisions and Financial Performance of Manufacturing Firms Listed at Nairobi Securities Exchange, Kenya

Purpose: The main aim of the investigation was to ascertain how financing decisions affect the financial success of manufacturing companies listed on Kenya's Nairobi Securities Exchange. Materials and Methods: This study's methodology was a descriptive research plan. Ten manufacturing companies are listed on the NSE. 10 manufacturing organizations that were listed on the Nairobi Securities Exchange in Kenya as of December 31, 2021, made up the study's population. Because they have regularly been listed at NSE since 2012 without skipping a year, the 10 firms were targeted. The companies that are not listed in any given year between 2012 and 2021 was not taken into account by the study. Therefore, the study involved all 10 manufacturing companies. Since every company was listed throughout the time of this study, none was omitted. The researcher uses a document review checklist during the data collection to gather secondary information for use in compiling and analyzing the financial statements. Panel data made up of time series and cross sections was considered secondary data. The data that was collected was between 2012 and 2021. Findings: Outcomes depicted that liquidity decision had a satisfactory and important effect on financial success (β= 0.088, p=0.003). Outcomes depicted that dividend decision had a satisfactory and important consequence on financial success (β= 0.073, p=0.032). In addition, outcomes depicted that investment decision had a satisfactory and important consequence on financial success (β= 0.021, p=0.002). A strong dividend policy that may increase manufacturing companies' levels of return on assets and draw in investors should be in place for those listed on the Nairobi Securities Exchange. Implications to Theory, Practice and Policy: The report suggested that in order to increase their income base, companies listed on the NSE that are in the manufacturing and related sectors should invest in product diversification strategies. Since the financial success of manufacturing enterprises is directly impacted by investment decisions. Subsidies for manufactured goods should be taken into account by the Kenyan government as a policy through the yearly budget proclamations. It is recommended that managers closely monitor the firm's liquidity, take on projects with positive net present values, and generate cash flow to support their investment and operational endeavors.

Does Quality Certification or Product Diversification Improve the Performance of Small and Medium Enterprises?

This study utilizes a Cobb–Douglas production function and an instrumental variables regression approach to analyze the impact of quality certification and product diversification on asset productivity at the firm level. Analyzing a panel dataset of approximately 2500 firms from 2011, 2013, and 2015 showed that regional norms significantly influence adoption behaviors, which vary across industries and business types. The study reveals that firms employing computers and those with a larger scale are more inclined to adopt these strategies. The results showed that quality certification enhances asset productivity by approximately 26%, highlighting its positive role. In contrast, firms with diversified products exhibit about 18% lower asset productivity than mono-product firms, suggesting a trade-off inherent in diversification. The study concludes with policy recommendations emphasizing the promotion of quality certification while carefully considering the complexities and potential inefficiencies arising from product diversification strategies.

Development of the Reed Industry Group Through Training in Financial Management, Management and Sustainable Architectural Building Design

Industry plays a vital role in reducing poverty in developing countries. In Bali, the creative industry has developed rapidly, although initially, it was still small. The alang-alang roofing industry, which focuses on producing and using roofing from alang-alang leaves, is a significant sector in the construction and property development industry. This material is used in traditional buildings and modern, environmentally friendly building designs. A case study of the "Tegal Wangi" thatched roof industry in Lodtunduh Village, Ubud, shows that financial management and risk management are essential for the success of small and medium enterprises (SMEs). Financial education through simple bookkeeping is essential to provide in-depth understanding for business owners and managers. In addition, risks in this industry include competition, changes in customer demand and quality, and fluctuations in raw material prices. Solutions like product diversification and flexible marketing strategies can help manage these risks. Sustainable architectural building design is also a crucial factor. Collaboration between architects and industrial owners can create functional, aesthetic buildings resistant to extreme weather. Using sustainably sourced reeds and following environmentally friendly farming practices are essential steps in maintaining the balance of the ecosystem.

SOSTAC framework analysis for enhancing digital marketing in Yogyakarta's Art Music Today

This research utilizes a qualitative descriptive methodology, employing the SOSTAC model to analyze Art Music Today (AMT). The study follows six structured steps, starting with a SWOT-based Situation Analysis highlighting AMT's strengths as a unique Yogyakarta entity. Strategic objectives are set using the 5s Framework, focusing on digital marketing elements like online sales optimization and user experience. The Strategy phase emphasizes STP marketing, presenting AMT as a tailored music information center. Tactics, guided by the 7P framework, include product diversification and pricing strategies, contributing to an enhanced user experience. An 18-month action plan, depicted in a Gantt chart, guides implementation from content creation to streamlined processes. The Control phase involves monitoring with Google Analytics and social media evaluation. Through leveraging strengths and addressing weaknesses, AMT positions itself for growth in the digital landscape, using the SOSTAC model as a robust framework for digital marketing excellence. As a suggestion, through a proactive approach to leveraging inherent strengths and addressing weaknesses, AMT aims for significant growth in the dynamic digital environment. Aligning its digital marketing efforts with the SOSTAC model, which covers Situational Analysis, Objectives, Strategy, Tactics, Action, and Control, ensures a comprehensive understanding of current market dynamics. This strategic alignment establishes the foundation for a well-defined and actionable digital marketing strategy.

How diversification of products impact emissions in China: a provincial perspective.

Currently, global warming and air pollution are the world's most urgent issues partly caused by carbon dioxide (CO2) and sulfur dioxide (SO2) emissions, and prompt actions are needed to address these global concerns. Sustainable development cannot be attained until we reverse the negative impact of economic factors on the quality of the environment. It is noteworthy to offer a new indication on whether and how the empirical liaison between product diversification and environmental degradation evolved in China from 2008 to 2019. Product diversification (PD) is a remedy for reducing environmental degradation (ED). It is a crucial component of energy demand, which a significant impact on reducing energy consumption and ED. The purpose of this study is to investigate the impact of PD on ED in China using the provincial panel dataset. Employing the fixed effects-Driscoll-Kraay standard errors (FE-DKSE) and feasible generalized least squares (FGLS) methods, we discover an inverted U-shaped link between PD and ED. The control variable urbanization (URB) and technological innovation (TI) reduce ED significantly. However, industry value added (IVA) and energy consumption (EC) promote ED. Our results are robust with the addition of various controls in all models. The policy implication from our findings is that, to achieve a target of carbon neutrality, countries should adopt the product diversification strategy.

Horizontal Product Diversification Strategy to Increase the Competitiveness of MSMEs

The development of the culinary business in Indonesia is increasingly rapid and diverse in meeting the increasingly complex needs of society in line with changes in life style. Companies/MSMEs are required to be able to fulfill consumer requests or desires, so that they can compete, efforts need to be made to increase product quality and variety (horizontal diversification of products) in order to produce products that consumers are interested in. This research aims to find out how the horizontal product diversification strategy is implemented at CV.Bolu Ketan Minister of Forestry and to determine the increase in CV's competitiveness. Minister of Forestry's Sticky Rice Bolu after implementing a horizontal product diversification strategy. Therefore, a qualitative approach is used to determine the condition of natural objects, where the researcher is the key instrument. The results of this research show that CV. Bolu Ketan Mendhut has implemented a horizontal product diversification strategy so that it has many flavor variants in its products and various sizes to meet consumer demand and from implementing this strategy it has apparently increased its competitiveness among its competitors.

A Data Analytic Monitoring with IoT System of the Reproductive Conditions of the Red Worm as a Product Diversification Strategy

The Internet of Things (IoT) is becoming increasingly important due to the ability to collect data in real time and monitor the performance of systems. In this sense, the objective of the project is to create an IoT system to monitor and enhance red boll worm farming conditions in California as part of a strategy to diversify annelid-based goods. Therefore, the goal is to expand this animal’s productivity so that additional items can be made from California red worms. Furthermore, the method used implies a research design that uses an experimental approach to obtain data based on the variable conditions identified in the literature review. The analysis of the data will allow determination of the factors that result in optimization of production, and at the same time creation of a production estimation in the network platform. Finally, this project proposes to facilitate the monitoring and control of the variables that interfere in the earthworm reproduction process to increase the production of annelids in pursuit of product diversification. In addition, we put it into practice in real life to demonstrate its applicability and efficacy. In this mode, the results indicate potential findings about IoT application in agriculture situations.

Strategi Pengembangan Usaha Mikro, Kecil, dan Menengah (UMKM) dalam Industri Keripik Beras Di Desa Kalumpang Kedung Bulus: Studi Kasus Analisis Potensi Pasar dan Inovasi Produk

This research raises the theme of strategies for developing Micro, Small and Medium Enterprises (MSMEs) in the rice chips industry in Kalumpang Kedung Bulus Village. The aim of this research is to analyze market potential and product innovation as key components in the growth of MSMEs in the rice chips industry. The research method used is a case study with a qualitative approach. Data was collected through in-depth interviews with rice chips MSME owners, field observations, and analysis of documents related to the industry and market. The research results show that MSMEs in Kalumpang Kedung Bulus Village have adopted a product diversification strategy and focused on innovation in taste, packaging and product quality. Market potential analysis identified significant consumer demand for healthy snacks, as well as a preference for local products. The implication of this research is the need to develop policies that support the empowerment of MSMEs through management training, access to financing, and wider market access through the use of digital platforms. Thus, this research provides practical guidance for MSMEs in optimizing market potential and innovating products in order to achieve sustainable growth in the rice chips industry in the region.

Analysis of the Reasons for the Success of Kao (Thailand) During COVID-19

This case study analyzes the reasons for the success of Kao (Thailand)Company during the COVID-19. This study examines how Kao (Thailand)Company effectively responded to the challenges caused by the epidemic and implemented effective measures, enabling the company not only to survive in the Thai market, but also to achieve certain development. By taking proactive and effective measures to adapt to the new market environment, Kao (Thailand)Company has been able to maintain operations, maintain customer trust, and achieve significant business results in this unprecedented crisis. The case study analyzes the specific actions taken by Kao (Thailand)Company, such as supply chain management, digital transformation, product diversification, and customer engagement strategies. Analyzed the impact of these measures on the company's financial performance, market position, and customer loyalty. In addition, this study revealed the key lessons and practices of Kao (Thailand)Company in successfully responding to the epidemic, providing valuable experience for other enterprises facing similar challenges. The purpose of this case study is to analyze the strategy and methods of a company not only to survive but also to thrive during times of crisis, contributing to the knowledge system of restoring enterprise capabilities and ensuring business continuity in adversity.