Product Mix
Product mix (product assortment) is the set of all product line and items that a particular seller offers for sale to buyers. HUL, for example, includes a variety of product lines including shampoos, detergents, and soaps. The product mix is the sum of all of these product lines.
Product Line
A group of products that are closely related because they function in a similar manner, are sold to the name customer groups, arc marketed through the same types of outlet, or fall within given price ranges. The company may offer a variety of items, and it will have a similar number of product lines. Thus, Nestle has milk-based products such as milkmaid, food-based products such as Maggi, chocolate-based products such as Kitkat, and other product lines. As a result, Nestle’s product mix will be a mix of all of the company’s product lines.
Product Line Length
The length of the product mix is said to be 40, if a company has four product lines and ten goods inside each product line. The length of the product mix is calculated by dividing the total number of product lines by the total number of product lines. This equation is also known as the length of a product line.
Product Line Width
The number of product lines inside a corporation equals the width of the product mix. In the preceding example, if the company has four product lines, each with ten products, the product line width is just four. As a result, product line breadth is a representation of a company’s number of product lines.
Product Line Depth
The total number of goods within a product line is the depth of the product mix. Thus, if a corporation has four product lines with ten products in each, the product mix depth is ten. It might have various changes inside the product to determine the depth of the product line.
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