O# 3 Product Mix and product line decisions Flashcards
Product mix
The number of products lines, or variety, offered by the firm
Product lines
group of associated items that customer use together
Product category
A combination of brands that customers sees a reasonable substitutes from one another
Product mix-breath
The number of products lines, or variety, offered by the firm
Product line depth
The number of products with a product line
Stock keeping units SKU
Individual item within each product category
Smallest unit available for inventory control
Breath
Increase
Create new lines to capture new markets / increase sales/ compete
decrease
It is important to delete a product line:
Adress changing market conditions
Meet internal priorities strategies
Depth
Increase
add a product to address changing consumer conditions
Decrease
Delete product categories to realign resources
