Product - Product Portfolios Flashcards
1
Q
What is a product portfolio
A
a range of different products a firm sells - large firms have products at different stages - balanced portfolio
2
Q
How do business extend the life of a product
A
Extension strategy - changes to the design or price to bring in profit for longer
Means spending more
They need a balance between old and new products
3
Q
How can firms broaden their portfolios
A
Adding products to existing ranges - developing new products based on current ones
Increasing it’s range of products
