What is Product Mix and How Can it Benefit Your Business?
Typically, different customers buy different amounts each month or quarter, and your margins can increase or decrease based on who bought what in a given time period – that’s how we define product mix. Most companies don’t have the ability to measure product mix strategies and their impact on profitability. INSIGHT’s strong data analytics capabilities allow us to analyze what you’ve sold and to identify trends in the data related to product mix – margins can be affected when your product mix strategies shift to more or less profitable offerings, customers or locations.
Once we isolate trends related to product mix, we work with you to decide what to do next.
We can help you plan for ongoing trends in product mix and forecast their impact going forward, or we can develop strategies to alter those trends.