Product Mix and Pricing
Devendra Vyavaharkar, Student (MBA), India, Premium Member
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 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 clo (...) Read more? Sign up for free
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