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

What marketing strategies, What marketing strategies are appropriate at eac...

What marketing strategies are appropriate at each stage of the product life cycle? How can a company build and mange its product mix and product lines.

Determine the cost based pricing, Determine the Cost Based Pricing Unde...

Determine the Cost Based Pricing Under this method, price of product is fixed by adding the amount of desired profit margin to the cost of product. If a specific soap costs the

What are the product levels in marketing, What are the product levels in ma...

What are the product levels in marketing? Product Level in Marketing: Marketers require to think through five level of product when planning its market giving as each lev

Process design can best be improved, Process design can best be improved by...

Process design can best be improved by Adopting a strategy of continuous improvement.

Test Marketing, Explain the various approaches that are followed by FMCG co...

Explain the various approaches that are followed by FMCG companies in test marketing

Regarding assignment making, i submitted an assignment. that assignment is ...

i submitted an assignment. that assignment is accessible to your site . i confirmed it beforehand. but some mishappening is there. its not in record perhaps that i got an assignmen

What are the intangible goods, What are the Intangible Goods Intangi...

What are the Intangible Goods Intangible goods refer to services provided to individual consumers or to organisational buyers (industrial, institutional, commercial, governm

Market segmentation, Market Segmentation Market Segmentation: "Divid...

Market Segmentation Market Segmentation: "Dividing a market into separate groups with different needs, characteristics, or behaviour who may require separate products or mar

Building new knowledge through research and development, Question : (a)...

Question : (a) "America's investors are as busy as they have ever been and its entrepreneurs are seizing on their ideas with the same alacrity as always. Investment in resear

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