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Jabi, Lecturer
Category: Homework
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Experience:  I have done MBA in Finance and Accounting.
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For Jabi, Please provide your original comments/explanation for the following in 200-300 words essay. Please delete link upon acceptance. Thanks!
A company’s product mix consists of four dimensions: width (number of different product lines carried by company), length (number of total items in the mix), depth (number of variants offered of each product), and consistency. Identifying and understanding customers is the best way a company can build and manage its product mix and product lines. Understanding the mind frame, needs, and buying habits of their target market(s) will help a company build its product mix and product lines by connecting customers with the product that will satisfy their needs, wants, and desires. Discovering and solving customers’ problems will facilitate sales momentum as customers seek to purchase their “problem-solving” or “life-saving” product. Companies also have to determine whether or not they will emphasize high profitability, which will cause them to carry shorter lines of products; whereas if companies desire capturing more of the market, they may choose to carry longer lines of products. Whether a company decides on a wide or narrow product line, their product line should have a common theme and remain true to its brand. A company should build a product line with the mentality of giving customers more of what they need and want. Additionally, a company has to be conscience of competitors’ lines and how their line will be positioned against them.
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Customer: replied 4 years ago.
Please delete link. Thank you!

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