Product Mix

When you are wrapping up the first quarter of the new year, it is a good time to reflect on the product mix. Some questions you may want to ask are: What items are currently a part of your product line? Are they individually profitable? How do your products compare to your competitors? Are there new innovations in your product mix that you have yet to implement? Are there customer needs that your product mix does not yet address?

A product is often narrowly defined as the tangible item that a company or organization offers its target segment. However, for purposes of this discussion we will broaden the definition to include services or programs with all tangible and intangible elements.

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