What is a product mix a product mix is also referred to as a product assortment it is the full range of products offered by a firm as discussed in another article on this website, firms will have sets of products in what is known as a product line. The product mix is a concept with four different dimensions: width, length, depth, and consistency - the width is the number of different product lines that a company carries - the length is the total number of goods a company carries within its production lines. A product line can be thought of as a brand in other words, it is a collection of products grouped together and sold by a company companies will utilize different product lines for different. A shifting sales mix can have significant consequences for the bottom line when margins vary across the portfolio companies often rebrand or restructure underperforming and unprofitable products. Product mix, also known as product assortment, refers to the total number of product lines that a company offers to its customers for example, a small company may sell multiple lines of products sometimes, these product lines are fairly similar, such as dish washing liquid and bar soap, which are used for cleaning and use similar technologies.
Product mix see product range product mix the mixture of products offered by a firmsince most products tend to follow a typical product life cycle, it is expedient for companies to maintain an appropriate mix of newly launched products, growth products and mature lines. A product line is a group of products that are closely related, either because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges. Length : total number of items in the product mix of the company• depth : assortment of size, colour and models offered in each item of a product line• consistency : it refers to the relationship of various product line either in their end use, production requirement, distribution channel or other way. Product line depth: product line depth refers to the number of products in a company's specific product line a product line can contain one product or hundreds the number of products in a product line refer to its product line depth, while the number of separate product lines owned by a company is the product line width (or breadth.
The product breadth is the number of product lines, while the product depth is the variety within each of those lines these two elements combine to make up the store's product assortment or merchandise mix. Product mix and product line the product mix is the set of all the products that an organization offer is to its customers for instance, godrej offers durables, toiletries, securities, furniture etc a product mix consist of all the product mix lines and categories. Set daily goals: make a regular effort to drive richer product mix set a daily goal to positively impact on a customer's purchase or a specific product line in general set a daily goal to positively impact on a customer's purchase or a specific product line in general. Ford motor company is popularly known for its automobiles, such as sedans however, the firm also has trucks, buses, and tractors in its product mix. Profit maximization in a product mix company us ing linear programming wah e ed babatunde y ahya 1 , muhammed kabir garba 1 nigeria on her main product line - medicated.
A product line can often times get confused with a product mix a product mix is all the product lines that a firm has to offer, sometimes it may be only one line, but other times it may be many avon, even though commonly know for their make-up, also has other product lines such as jewelry, and clothes. Product line stretching occurs when a business adds new product to the product line and the new product types are of a higher or lower quality than existing products in the product line if the new product types are cheaper or of a lower quality it is known as a downward stretch. The product mix length is the total number of products or items in your company's product mix for example, ez tool has two product lines, hammers and wrenches. A: there are many reasons to add new products-or line extensions-to your company's product mix in fact, line extensions may be the answer to building sales and moving your company in a whole new.
Product-line brand names may be used if a company has more than one product line corporate brand names are used when the company's name is powerful and can be used to help the product line. The product mix is defined as all of the products or product lines offered by a firm some companies have a wide product mix geared toward a diverse consumer group the target corporation is an upscale discounter that provides high-quality, in-trend merchandise. Product mix is a total product lines offered by the company and it further goes to length, width and depth of product mix which is no of product lines, no of product offereings number of product lines and maximum products within a product type.
Individual, product line, and product mix important decisions in the development of marketing of individual products and services product attributes, branding, packaging, labeling, and product support services. This prezi presentation will exam the two major categories in the nike company product mix within these two product categories, a close examination of the product lines and items will be studied within each category. The product mix breadth of a business refers to the all of the products being sold by a particular brand or company it could include five items or 500 items in a variety of product lines, but. Product mix definition: the product mix also called as product assortment, refers to the complete range of products that is offered for sale by the company in other words, the number of product lines that a company has for its customers is called as product mix.
Product line pricing is a product pricing strategy, used when a company has more than one product in a product line it is a process that traders adopt to separate products in the same category into various price groups, to create different quality levels in the customers' minds. Even though total allocated fixed costs of $120,000 cannot easily be traced to each product line, company management wants each product line manager to be aware of these costs as a result, it uses an allocation process to assign the costs to product lines. In contrast, the firm's product mix describes the combination of different product lines that the firm holds boeing, for example, has both a commercial aircraft and a defense line of products that each take advantage of some of the same core competencies and technologies of the firm.
The product mix is the variety of products a company produces or sells to the marketplace a product line often evolves, as manufacturers want to take advantage of a brand's value and the success of other products in the mix. Microsoft is an unusual company for the sheer number of product lines that bring in more than a billion dollars while the company doesn't break out revenues for all of its product lines.