BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Product line
|
|
|
Product mix
|
Detailed explanation-1: -The particular assortment of products a business offers to meet its market’s needs and its company’s goals is its product mix.
Detailed explanation-2: -Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm.
Detailed explanation-3: -A product mix is the total number of product lines and individual products or services offered by a company. Additionally referred to as product assortment or product portfolio.
Detailed explanation-4: -A product mix strategy is a marketing strategy that analyzes the company’s existing products and allocates resources and efforts on product lines and individual products to best promote them to a specific market or audience and in this way to maximize the company’s growth and market share.