The influence of product variety and its impact on the cost could not be denied. A company recognizes that customers buy their products for numerous advantages, and, therefore, if they offer more choices along with some packages to save the customers some money, then they would be able to grab more customers. However, from a company’s perspective, the variety of a product, even though, allows them to sell more, but sometimes, at a loss of revenue. Following factors are involved in this aspect: Fruit drink companies such as Nestle, Liquiteria, etc. have to produce juices of various flavors ( Continue reading...