product variety

product variety

the number and range of BRANDS or PRODUCTS offered by a supplier. How many variants of a product a supplier markets will depend on the degree to which the market is segmented and the number of product variants offered by competitors. In making product variety decisions the firm must consider how to position its brands so as to serve its target market segments without excessive duplication of brands in any segment, and the additional costs of producing small volumes of many varieties with consequent loss of standardization economies. See MARKET SEGMENTATION, PRODUCT POSITIONING, BRAND PROLIFERATION, PRODUCT RANGE.
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