Product mix, Marketing Management

Assignment Help:

"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. 


Related Discussions:- Product mix

Enterprise factors affecting channel decisions, Company of the enterprise f...

Company of the enterprise factors: the choice of channel is also influenced by company characteristics such as its financial position, size, product mix, morale of its employers,

Branding, ingredient branding in the market place

ingredient branding in the market place

What do you mean by media of advertising, What do you mean by Media of Adve...

What do you mean by Media of Advertising? Media of Advertising: Advertising media are implies to communicate the message of advertiser to customer. Information comm

What is marketing transaction, What is marketing transaction? A marketi...

What is marketing transaction? A marketing transaction is one in that the buyer and the seller, not individual of the nature of the product, skill mutual satisfaction the selle

What is pricing in functions of marketing, What is pricing in functions fac...

What is pricing in functions facilitating exchange? Pricing: Determination of price of a product is a significant function of marketing manager. Product’s price is influen

Academic writer, i would like to join your company as academic writer. how ...

i would like to join your company as academic writer. how do i go about it?

Determine the uses of marketing communications in business, Determine the u...

Determine the uses of marketing communications in business Organisations are all well-known brand-names however there are hundreds of thousands of smaller organisations which

How to select a media for advertisement, Q. How to select a Media for adver...

Q. How to select a Media for advertisement? Media Reach and Coverage: Such media must be selected which has wide reach and can cover our target customers. If the advertiser h

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd