Product Mix

The video discusses the concept of product mix, which includes all products and their variations a company offers. It highlights the importance of managing the product mix to maximize profitability, enhance customer satisfaction, manage risks, and gain a competitive advantage. The video also provides examples from the retail and smartphone industries, illustrating different product mix strategies used by companies like ALDI, Walmart, Apple, Samsung, and Xiaomi.

How can managing a product mix wisely contribute to business growth?

What is meant by the term 'product mix'?

What are the benefits of having a well-balanced product mix?

What role does customer satisfaction play in the context of product mix?

Explain how a diverse product mix can aid in risk management.

Discuss the concept of economies of scale in relation to product mix.

How do different companies approach their product mix strategy?