Product mix: the total sum of all the product items and their variants offered by an organisation.
The set of all product lines and items that a particular business offers for sale to buyers
Product quality ...
Product Mix Strategy
Development of a successful product mix strategy depends on analyzing existing products for market growth and market share. Results of product analysis allow management to make marketing and resource allocation… Read More
Product Growth Strategy ...
Product Mix Consistency
the degree of closeness or relatedness between product lines in the product mix.
Product mix strategies - Company can add new product lines, thus widening the product mix. - Company can lengthen the existing product lines to become a more full line company. - It can add more product versions of each product and deepen its product mix.
~ The full set of products offered by an organization e.g., books, videos, storyhours, etc.
~ - the variety of distinct product lines and items manufactured or distributed by an organization.
~ Consistency - the degree of closeness or relatedness between product lines in the product mix.
A ~ is also one of the 4 Ps or the marketing strategy. It includes the product idea (features, accessories, installation, warranty, and product lines), packaging, and labeling.
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.
Price-setting logic must be modified when, the product is part of a product mix. In this case, the firm searches for a set of prices that maximizes profits on the total mix.
Thus all products within a product line are related, but may vary in terms of size, color, quality etc. The product line is part of the broader product mix, which is the full suite of products offered by the company.
See also: What is the meaning of Customer, Offer, Market, Mix, Product?