In 2003, Myspace launched a social networking website offering an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos. Myspace was the largest social networking site in the world, from 2005 to 2009. Recently, it was purchased by Specific Media, an online platform where music fans can interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. Which of the following describes Specific Media’s strategy?a. stability
b. diversification
c. growth
d. defensive
e. multiproduct

b. Diversification

Explanation:

Diversification is defined as a situation where a business increases it's range of products or business operations in addition to the existing one that they were having.

Specific media has an online platform where where music fans can interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. They acquired Myspace so they can diversify their business and offer their customers better services.

The answer that best describes Specific Media's Strategy is option B) Diversification

Explanation:

A company may decide to diversify its activities by expanding into markets or products that are related to its current business.

A very good instance would be the strategy Specific Media uses in its online platform  where music fans can interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect.

This is an improvement on Myspace that they acquired.

Myspace was the largest social networking site in the world, from 2005 to 2009 offering an interactive, user-submitted network of friends, personal profiles, blogs, groups, photos, music, and videos.

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