“…The afore mentioned list of issues requires substantiation of the process of managing the product range of an enterprise [2,12,15]. Several strategic managerial decisions must be made prior to beginning a program to develop a product range, including selecting a product and market development strategy, a product strategy (focusing on the concept of undifferentiated, differentiated, or concentrated marketing), a competitive strategy, researching a market niche, differentiation, cost leadership, and choosing attractive strategic business areas [11,14,17]. The company's product range is developed only at the next stage.…”