What is Product Mix
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- čas přidán 26. 07. 2024
- Product mix refers to the assortment or range of products offered by a company or a business. It represents the complete set of products or product lines available for sale to customers. The product mix typically includes all the variations, models, sizes, and types of products that a company offers to satisfy different customer needs and preferences.
The product mix is an important strategic consideration for businesses as it directly affects their market positioning, target audience, and overall business performance. It allows companies to cater to diverse customer segments and capture a larger market share by offering a variety of products to meet different requirements.
A product mix can be composed of several product lines, each representing a distinct category of products. For example, a company that manufactures and sells electronic devices may have different product lines such as smartphones, tablets, laptops, and accessories. Each product line within the mix may further consist of multiple products with varying features, specifications, and price points.
The composition and structure of the product mix depend on various factors, including the company's market strategy, target market, competitive landscape, and the company's resources and capabilities. Businesses often analyze market trends, consumer preferences, and competitor offerings to develop an effective product mix that aligns with their overall business objectives.
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Can you make one video on how to do market research for retail business please
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I am working with one of the leading retail organisation in India as Operations manager....