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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.
(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.: (3) depth or number of product varieties within a product line the number of each item or particular styles carried by a store (4) consistency
Product: A product refers to an item that satisfies the consumer's needs or wants. Products may be tangible (goods) or intangible (services, ideas, or experiences). Product design – features, quality; Product assortment – product range, product mix, product lines; Branding; Packaging and labeling
The advantage of selling an item this way is that the established shop gives the item exposure to more potential buyers. E-tailers like OLX and Quikr also offer second-hand goods. Retailers can opt for a format as each provides different retail mix to its customers based on their customer demographics, lifestyle and purchase behaviour.
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It can help in efficient manufacturing or setting up of a production site by facilitating required needs. [2] A production plan is made periodically for a specific time period, called the planning horizon. It can comprise the following activities: Determination of the required product mix and factory load to satisfy customers needs. [3]
The company can extend its product line down-market stretch, up-market stretch, or both ways. Product line extensions are a process where companies with an established brand alter the factors of a product or products to satisfy a refined segment in the market. [1] There are two types of product line extensions, horizontal and vertical.
Image source: The Motley Fool. Seagate Technology Plc (NASDAQ: STX) Q2 2025 Earnings Call Jan 21, 2025, 5:00 p.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants