Product Grouping for Your Business is an incredibly powerful way to run your business. It gives you
- Firstly, great insights
- Secondly, lessens your financial and mental anxiety about the future
- Thirdly, allows you to gauge profitability with a great degree of accuracy.
In this weeks I Hate Numbers podcast I’m going to
- Firstly, outline the idea of what product groups are
- Secondly, give you examples of product groups
- Thirdly, how they can help your business
- Finally, show you how it all fits together.
Conclusion
Product Grouping for Your Business shows you where there’s money being made in your business. You’ll spend less time spent worrying about whether or not things are going right and more time actually working towards improving them! That sounds pretty good, doesn’t it? Let’s get started!
Product grouping is a powerful way to run your business. The first type of product group that may come to mind is when you sell products in groups based on their price point or size. For example, if I sold ladies’ shoes from 15-40 pounds. But there are other types too! For example, some companies will want an assortment of items within one category (like all lipstick shades) while others might have specific needs at certain points in time (say, seasonal clothing).
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