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Saturday, May 17, 2014

Factor that affects the Product Mix - Marketing Notes

A product mix is the set of all the products offered for sale by a company. The structure of product mix has width, depth, length and consistency. 

Product mix can be defined as the set of all product lines and items that a particular seller offers for sale to buyers.”

A product line includes a group closely related products that are of similar physical characteristics. The product mix is also known as product assortment.

Factor of Product mix

a. Width: The width of the product mix refers to how many product lines the company carries.

For Example:proctor & gamble markets a fairly wide product mix consisting of many product lines including food, household, cleaning , mechanical, cosmetics and personal care products

b. Depth: The depth of the product mix refers to how many varieties are offered of each product in the line.

For example: P&G Crest tooth paste comes in three sizes and two formulations (paste and gel)

c. Length: The length of the product mix refers to the total number of items in its product mix.

For example: P&G typically carries many brands within each line It sells eight laundry detergents, six hand soaps , six shampoos, & four dish washing detergents.

d. Consistency: The consistency of the product mix refers to how closely relate the various product lines are in end-use, production requirements, distribution channels or in some other way.

For example: P&G product lines are consistent insofar as they are consumer products that go through the same distribution channels. The lines are less consistent insofar they provide different functions for buyers. These four dimensions of the product mix provide the handles for defining the company’s product strategy. The company can adopt product lines, thus widening its product mix.

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