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The combination of product lines offered by a manufacturer is called the firm's: Group of answer choices product matrix. product mix. total product offer. product portfolio.

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The combination of product lines offered by a manufacturer is called the firm's product mix.

What is a product mix strategy?

The total number of product lines and distinct goods or services that a business offers is its product mix. Alternatively known as product portfolio or product assortment. Product combinations differ amongst businesses.

Four main product mix strategies are as follows:

  • Expansion: A business adds more product lines or product depth (i.e., varieties) inside lines.
  • Contraction: A business reduces the variety of its products to get rid of underperforming ones or to streamline the remaining ones.
  • Change an Existing Product: A business makes improvements to an existing product rather than developing a brand-new one.
  • Product differentiation: A corporation advertises a product as being a better option than a rival product without changing it in any manner.

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