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As mentioned above, the width of product mix is referred to as the total number of product lines that the company offers. A diversified product mix can target the maximum number of customers, however, such numbers of product lines requires much attention and focus as each product line targets different groups of consumers and involves individual strategy and management.
The main characteristics of a company's product assortment are: [4] (1) the length or number of products lines the number of different products carried by a store (2) the breadth refers to the variety of product lines that a store offers. It is also known as product assortment width, merchandise breadth, and product line width.:
A matrix organization. Matrix management is an organizational structure in which some individuals report to more than one supervisor or leader—relationships described as solid line or dotted line reporting, also understood in context of vertical, horizontal & diagonal communication in organisation for keeping the best output of product or services.
Stock mix or Product mix is the combination of products a company sells or manufactures. The product mix is determined by the demand for certain products and the profitability of those products. [1] There are companies like Pepsi and Coca-Cola that have a very large and diverse product mix. [2] [3] Some companies use a large product mix to ...
To use the matrix, analysts plot a scatter graph to rank the business units (or products) on the basis of their relative market shares and growth rates. This results is a chart showing: Cash cows, where a company has high market share in a slow-growing industry. These units typically generate cash in excess of the amount of cash needed to ...
Product: This represents the physical or intangible offering that a company provides to its customers. It includes the design, features, quality, packaging, branding, and any additional services or warranties associated with the product. Price: Price refers to the amount of money customers are willing to pay for the product or service.
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An example would be a company that produces two products, "product A" and "product B". Using the matrix structure, this company would organize functions within the company as follows: "product A" sales department, "product A" customer service department, "product A" accounting, "product B" sales department, "product B" customer service ...