Periodic evaluation of products to determine their impact on the overall effectiveness of the firm's product mix.
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. Some companies have numerous product lines, each with a large number of products.
A foundational business model known as the "marketing mix" has historically focused on the four Ps of product, price, place, and promotion. The term "collection of marketing instruments that the firm utilizes to accomplish its marketing objectives in the target market" refers to the marketing mix.
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