Product mix, Marketing Management

"A Product mix (also called product assortment) is the set of all product lines and items that a particular seller offers for the sale to buyers". An organization with the several product lines has a product mix. Product mix need not consist to related products. In other words, product mix is "the composite of product lines offered for sale by a firm". It is a collection of the products manufactured or distributed by a firm. It is the full list of all products offered by a firm. For instance, a firm manufactures watches items, electric lamp, etc. it has four main characteristics:

1.       Product length

2.       Product width

3.       Product depth

4.       Product consistency    

American marketing association defined product Mix as, "product mix is the composite of the products offered for sale by a firm or a business unit. For example, if an enterprise manufactures or deals with different verities of soap, oil, toothpaste, etc, the group of all these products is called "product mix".  On the basis of above discussion, it can be concluded that a single product item is called as a product item. All the product items of the same group are collectively known as a product line and all the product lines manufactured or distributed by an enterprise are collectively known as product mix. A company product mix has a certain width, length, depth, and consistency. These concepts are illustrated in figure above selected Hindustan lever Limited products. The width of a product mix refers to how many different product lines the company carries. The length of a product mix refers to the total number of items in the mix.  The depth of a product mix refers to how many variants are offered of each product in the line. If close up comes in 5 sizes and in the three formulations (red, blue green), close up has a depth of 15. The average depth of HLL product mix can be consistent so far as they are consumer goods that go through the same distribution channels. 

Posted Date: 9/19/2012 6:38:00 AM | Location : United States







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