Horizontal Diversification versus Product Development. What's the Difference?
From the summary article on this site about the Ansoff Matrix.
Product Development. Sell new products or services in current markets. These can be accessories, add-ons, or completely new products...
Horizontal diversification. This occurs when the company acquires or develops new products that could appeal to its current customer groups even though those new products may be technologically unrelated to the existing product lines.
Both seem to be saying the same thing as far as completely new products and existing market (current customer groups).
So where is the difference? And isn't diversification also about new markets - so where is the new markets in horizontal diversification?