WHAT IS A PRODUCT MIX? MEANING
The Product Mix, also called: "Product Assortment", or: "Product Portfolio" is the complete set of product lines or items (see Product Hierarchy for more information) offered by the seller for sale to the customer.
A company's product mix can be characterized by a number of dimensions:
WIDTH: Also called the BREADTH, it refers to the number of product lines offered by the firm. For example
, P&G has several product lines such as Baby care, Hair care, Detergents, Oral care, etc.
LENGTH: This refers to the total number of items in the firm's product mix. For example
, a firm with 4 product lines and 5 products within each line has a product mix length of 20 (i.e. 4 x 5).
DEPTH: This refers to the number of items offered by the firm in each product line. For example
, under the Detergents product line, P&G offers variants such as Tide (1946), Cheer (1950), Bold (1965), etc.
CONSISTENCY: This refers to how closely the product l (...) Read more? Sign up for free