Many strategic decisions must be made to manage a company’s assortment of products effectively. At any given time, a firm may be marketing some new products and some old ones, while others are being planned and developed. It is therefore important to make strategic decisions where these products are presented in a way that shall yield bigger profit.
To start, a firm must select strategies regarding its product mix. A product mix involves all the products offered for sale by the company. One decision is how to position the product relative to competing products and other products sold by the firm. The best position for some products is directly against the competition. This is suitable for a firm that already has a solid advantage. However, for other products with lesser market advantage, head to head positioning may not be practical. Another view is that for underdogs, they should try to be the opposite-or at least much different than- the market leader.
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