Which term is defined as the set of products made by a company?

Which term is defined as the set of products made by a company?

• A. Product Range
• B. Product Portfolio
• C. Product Mix
• D. Niche Market

Answer: (B)

Understanding the scope of what a company offers is key here: the product portfolio is the complete set of products and brands a company sells across all its product lines. It shows all the offerings the business has, which helps with planning, diversification, and resource allocation. The product range is more about the breadth within a category or across the firm's offerings in a narrower sense; the product mix refers to the overall combination of product lines and items but is often used more generally. A niche market is a specific customer segment, not the list of products. So, the set of products a company makes is its product portfolio.

Understanding the scope of what a company offers is key here: the product portfolio is the complete set of products and brands a company sells across all its product lines. It shows all the offerings the business has, which helps with planning, diversification, and resource allocation. The product range is more about the breadth within a category or across the firm's offerings in a narrower sense; the product mix refers to the overall combination of product lines and items but is often used more generally. A niche market is a specific customer segment, not the list of products. So, the set of products a company makes is its product portfolio.