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Product mix (also called a product assortment) is the set of all products and items a particular seller offers for sale.
I n o f f e r i n g a p r o d u c t l i n e , c o m p a n i e s n o r m a l l y d e v e l o p a
b a s i c p l a t f o r m a n d m o d u l e s t h a t c a n b e a d d e d t o m e e t
d i f f e r e n t c u s t o m e r r e q u i r e m e n t s a n d l o w e r p r o d u c t i o n
c o s t s .
SALES AND PROFITS The product line manager may consider
dropping this item unless it has strong growth potential.
LINE FILLING
A firm can also lengthen its product line by adding more items within the present range.
Product Mix Pricing In product mix pricing, the firm searches for a
set of prices that maximizes profits on the total mix.
OPTIONAL-FEATURE PRICING
Many companies offer optional products, features, and services with their main product.
Manufacturers of razors and cameras often price them low and set high markups on
razor blades and film.
BY-PRODUCT PRICING The production of certain goods—meats, petroleum
products, and other chemicals—often results in by-products that should be priced on their value.