Philip Morris bought Miller Brewing and used its marketing expertise to improve Miller's market share. This justification for diversification is best described as .A) utilizing common infrastructures. B) capitalizing on core competencies. C) reducing corporate risk. D) using portfolio analysis.

The correct answer is the option B: Capitalizing on core competencies.

Explanation:

To begin with, in the field of business when we talk about "core competencies" we use the term to refer to something that a company can add to its business strategy with the purpose to add more value to the final benefit that the final consumer will obtain from the consumption of the good. Therefore that it means that capitalizing on core competencies refers to the situation where a company decides to add a superior value to its product by achiving diversification in its strategy and more specifically in this case, in its marketing campaign so that is why that Philip Morris will capitalize on core competencies by using marketing expertises from the other firm that has just bought.