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

Geometry, how would you classify a polyhedron with 8 faces?

how would you classify a polyhedron with 8 faces?

Marketing Strategy for market leaders, Explain Marketing Strategy for marke...

Explain Marketing Strategy for market leaders with example.

Human resources, employees going on assignment in another culture need to b...

employees going on assignment in another culture need to be aware of their own

Buying behaviour, Buying behaviour: Consumer decision making varies wit...

Buying behaviour: Consumer decision making varies with the types of the buying decision. The decisions to buy toothpaste, a tennis racket, a personal computer, and a new car ar

What are the sorting functions of discrepancy of assortment, What are the s...

What are the sorting functions of discrepancy of assortment? The sorting function of discrepancy of assortment is performed through intermediaries who include the following act

Jumpin jack flash, what management skills did jack demonstrate as a marketi...

what management skills did jack demonstrate as a marketing manager at the travel products company? What management skills did he demonstrate as a VP at the consumers product firm?

Define the media-frequency in advertisement, Q. Define the Media-Frequency ...

Q. Define the Media-Frequency in advertisement? Media-Frequency: Media-frequency demotes to average number of times the audience is exposed to media-vehicle in a specific per

What is meant by marketing research, Question: (a) What is meant by ma...

Question: (a) What is meant by marketing research? What are the main sources of data which should be included in a research brief? (b) What is consumer black box? How many

Explain with examples the meaning of shadow branding, Question: (a) Ex...

Question: (a) Explain with examples the meaning of shadow branding? (b) What is the difference between umbrella branding and portfolio branding? (c) List the six market

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