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The number of product lines a company carries is called
- a)product range
- b)product mix depth
- c)product mix width
- d)product line length
Correct answer is option 'C'. Can you explain this answer?
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The number of product lines a company carries is calleda)product range...
The number of different product categories across which different brands and products created by a company are classified is called product mix width.
For instance, if a company offers milk and yogurts, this indicates that its product mix has two lines. Similarly, a cosmetic company manufactures four different types of products – jewellery, cosmetics, fashion and household items. Its product mix width is 4.
For instance, if a company offers milk and yogurts, this indicates that its product mix has two lines. Similarly, a cosmetic company manufactures four different types of products – jewellery, cosmetics, fashion and household items. Its product mix width is 4.
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The number of product lines a company carries is calleda)product range...
Product Mix Width
The correct answer is option 'C', which refers to the number of product lines a company carries. Let's break down this concept further:
Product Mix Width:
- Product mix width refers to the variety of different product lines that a company offers.
- It is essentially the number of different product lines that a company has in its portfolio.
- For example, if a company sells clothing, accessories, and footwear, it would have a product mix width of three.
Product Mix Depth vs. Product Line Length:
- Product mix depth, on the other hand, refers to the number of products within a specific product line. It focuses on the assortment of products within each line.
- Product line length, on the other hand, refers to the total number of products a company offers across all its product lines. It is the sum of all products within each line.
Significance of Product Mix Width:
- A wider product mix width can help a company cater to a broader customer base and capture a larger market share.
- It also allows the company to diversify its revenue streams and reduce dependency on a single product line.
- However, managing a wide product mix width can also be challenging in terms of production, marketing, and distribution.
In conclusion, understanding the concept of product mix width is essential for companies to effectively manage their product portfolios and optimize their market presence.
The correct answer is option 'C', which refers to the number of product lines a company carries. Let's break down this concept further:
Product Mix Width:
- Product mix width refers to the variety of different product lines that a company offers.
- It is essentially the number of different product lines that a company has in its portfolio.
- For example, if a company sells clothing, accessories, and footwear, it would have a product mix width of three.
Product Mix Depth vs. Product Line Length:
- Product mix depth, on the other hand, refers to the number of products within a specific product line. It focuses on the assortment of products within each line.
- Product line length, on the other hand, refers to the total number of products a company offers across all its product lines. It is the sum of all products within each line.
Significance of Product Mix Width:
- A wider product mix width can help a company cater to a broader customer base and capture a larger market share.
- It also allows the company to diversify its revenue streams and reduce dependency on a single product line.
- However, managing a wide product mix width can also be challenging in terms of production, marketing, and distribution.
In conclusion, understanding the concept of product mix width is essential for companies to effectively manage their product portfolios and optimize their market presence.
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The number of product lines a company carries is calleda)product rangeb)product mix depthc)product mix widthd)product line lengthCorrect answer is option 'C'. Can you explain this answer?
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