I can’t think of anything more relevant today for marketers than product line optimization. As the rate of innovation and new products reaching the shelves of retail and eCommerce stores accelerates the need for proper line optimization rises as well. Too many products confuses the consumer and cannibalization reduces profitability. Too few products or the wrong SKUs can send consumers off to your competitors to satisfy their needs. Price of course is more important than ever.
How do we bring all these challenges into balance and succeed in today’s marketplace?
Answer = “Product Line Optimization”
See our mixer (kitchen appliance) example below for how we have addressed all these elements in one simple model.