What type of product could the Mars Company create or acquire to its product offering that it does not currently have?
Well, it depends on the way of diversification or strategy it want's to follow.
For example if the company wants to follow market penetration or market development strategies, it goes with the existing products only. If the company want's to adapt product development strategy then it may search for products that it needs to introduce in the same confectionery industry. Apart from food, it also involves in Veterinary services such as pet food providing and pet care services too.
So Apart from these products or services if it wants to diversify their business, it may diversify their business in a chain where it has no linkage to. For example it may diversify their operations into manufacturing and selling of clothing and other accessories.
Since the question mentions that the new product should be related to the current offering it may go with the acquiring of most popular brands or chocolate products such as taking over a product line of Cadbury or Nestle or smaller companies to it. Or it may acquire Hershey's too.
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