As CMO of a manufacturer or retailer, what would you do with this situation to strengthen your brand equity? (Essay Sample)

Student’s Name
Professor’s Name
Course
Date
Currently, organizations gradually experience demand for quality goods that are more flexible to consumer needs, satisfactorily priced, and delivered at shorter lead times. As such, balancing consumer quality demands, product portfolio, and company profitability has been an uphill task (Haug et al., 534). While a broad portfolio increases the possibility of a customer finding products that match their tastes, preferences, and budget, it also increases the organization’s operational, marketing, and indirect costs. However, an extensive product portfolio, if not well managed, reduces an organization's competitiveness and consumer satisfaction (Haug et al., 534).