A product portfolio is the collection of different products that a business offers to its customers. In GCSE Business, it involves understanding how businesses manage their range of products to meet customer needs, maximise sales, and achieve business objectives.
A well-balanced product portfolio reduces risk by diversifying, allowing firms to take advantage of market trends. By evaluating their product portfolio, firms can make strategic decisions about product development, discontinuation, and resource allocation to maintain competitiveness and profitability in the marketplace.
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