A product mix also called, as product assortment is the set of all products & items that a particular seller offers for sale.
A Company’s Product Mix has certain concepts:
• Width: The width of a product mix refers to how many different product lines the company carries. E.g.: HLL, P&G
• Length: The length of a product mix refers to the total number of items in the mix.
• Width: The width of a product mix refers to how many variants are offered of each product in the line.
• Consistency: It refers to how closely relate, the various product lines are in end use, production requirements, distribution channels or some other way.
Above 4 product mix dimensions permit the company to expand its business in four ways:
• It can add new product lines, thus widening its product mix.
• It can lengthen each product line.
• It can add more product variants to each product and deepen its product mix.
• Finally, a company can pursue more product line consistency
Be the first to comment on "What is Product mix?"