product mix optimization

What Are the Key Strategies for Product Mix Optimization?

Several strategies can be employed to optimize the product mix:
Product Line Extensions: Introduce new variants or versions of existing products to cater to different market segments.
Phasing Out: Discontinue underperforming products that do not contribute significantly to the bottom line.
Bundling: Combine complementary products into bundles to encourage higher sales volumes.
Pricing Strategies: Adjust pricing to reflect the value proposition and demand for different products.

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