Managing Product Mix: Strategies for Growth and Differentiation

Bill Carmody discusses product mix strategy, focusing on its dimensions: width, length, depth, and consistency. He explains how companies can visualize and organize their product mix, and explores core strategies like expansion, contraction, and product changes. The video also covers product differentiation, emphasizing marketing tactics to position products as superior choices without altering them.

What are the four dimensions of a product mix strategy?

Explain the concept of product mix width and how it is determined.

What is the difference between product mix expansion and contraction?

How can a company change an existing product to improve its market performance?

Discuss the importance of product differentiation in a competitive market.