Product mix is the set of all products and items a particular seller or manufaturer or marketer offers to the market (Consumer). Product Mix is also called as Product assortment.
e.g. Google has different product lines – Search, Advertising, Maps etc.
Michelin has 3 lines – Tyres, Maps and Restaurant rating Serviecs
Product is a bundle of satisfaction a acostomer buys.
The another related concept is Product Systems. A Product System is the group of diverse but related items that function in a compatible manner.
e.g. Computers – includes attachable products mouse, headphone, keyboard, etc.
Every Product Mix includes 4 Important Elements –
| Width | Total Numbers different product lines of company
e.g. HUL, Proctor and gamble, Godrej, Tata, Reliance having having product mix width of more than five lines. |
| Length | Total Number of items in the mix
e. g. Suppose HUL has total no. of products 30. So the length of P & G Product Mix will be 30. We can calculate average length of Product Mix from Total length and Product line. Suppose HUL has 6 product lines. So the average length will be 5. (30/6=5) |
| Depth | No. of variants offered of each product in the line
e.g. Rin comes in two scent, Park Avenue Deo comes in 3 Variants etc. Vim Bar & Vim Liquid, If tide has 8 different variants , then the depth of that product will be 8. We can calculate avearge depth of Product Mix by averaging No. of variants within the brand group. |
| Consistency | How closely related………
Degree or Extent of Similarity between product lines with respect to end use, technology, production techniques / requirements and distribution channels or some other way. |
Example of elements of Product Mix
| Product Mix Width | |||||||
| Product Line & Length | Personal Wash | Laundry | Skin Care | Hair Care | Oral Care | Deodrants | Ayurvedic Care |
| Lux
Lifebuoy Liril Hamam Breeze Dove Pears Rexona |
Surf Excel
Rin Wheel |
Fair & Lovely
Ponds Vaseline |
Sunsilk
Clinic |
Pepsodent
Close Up |
Axe
Rexona |
Ayush | |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | |
Product Mix –
(Remember the word ABCD GRIPSS QV)
Accessories
After Sales Service
Brand
Colour
Design
Gauranty Warranty
Range
Image
Packaging
Size
Shape
Quality
Variety
Classification of Product line Appraisal
Product line appraisal can be divided in to two classes –
1. Line Stretching
2. Line Pruning or Line Trimming
Line Stretching can be divided in to –
a. Stretching up
b. Stretching Down
c. Line Filling