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|
|Fair & Lovely|
Product Mix –
(Remember the word ABCD GRIPSS QV)
After Sales Service
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