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Home » What is the Product Mix? Definition, Meaning, Elements

What is the Product Mix? Definition, Meaning, Elements

What is product mix in marketing exactly! Let’s understand this concept with the help of definition, meaning, elements and examples.

Definition of Product Mix

This is the set of all products and items a particular seller or manufacturer or marketer offers to the market (Consumer). It is also called as a Product assortment.

Example:

  • Google has different product lines – Search, Advertising, Maps etc.
  • Michelin has 3 lines – Tyres, Maps and Restaurant rating Services

Product is a bundle of satisfaction of a customer buys. Product can be divided into two levels know more

  • Another related concept is Product Systems.
  • A Product System is a group of diverse but related items that function in a compatible manner.

Example: Computers – includes attachable products mouse, headphone, keyboard, etc.

Elements of Product Mix

This includes 4 Important Elements

Width

Width means Total Numbers different product lines of the company.

Example: HUL, Proctor and Gamble, Godrej, Tata, Reliance having product mix width of more than five lines.

Length

Length means the Total Number of items in the mix.

Example: Suppose HUL has total no. of products 30. So the length of P & G Product Mix will be 30.
We can calculate the 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

Depth means numbers of variants offered of each product in the line.

Example: Rin comes in two scents, Park Avenue Deo comes in 3 Variants etc.

Vim Bar & Vim Liquid

If the tide has 8 different variants, then the depth of that product will be 8.

We can calculate the average depth by averaging No. of variants within the brand group.

Consistency

Consistency means how closely related to other product lines.

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 1 2 3 4 5 6 7
Product  Length Personal Wash Laundry Skin Care Hair Care Oral Care Deodorants Ayurvedic Care
Lux
Lifebuoy
Liril
Hamam
Breeze
Dove
Pears
Rexona
Surf Excel
Rin
Wheel
Fair & Lovely
Ponds
Vaseline
Sunsilk
Clinic Plus
Pepsodent
Close Up
Axe
Rexona
Ayush

Example: Hindustan Unilever Mix

Product Mix Example of HUL
Fig. Product Mix Example of HUL

The trick to Remember: ABCD GRIPSS QV

  • Accessories
  • After Sales Service
  • Brand
  • Colour
  • Design
  • Guaranty Warranty
  • Range
  • Image
  • Packaging
  • Size
  • Shape
  • Quality
  • Variety

Classification of Product Line Appraisal

Product line appraisal can be divided into two classes –

  1. Line Stretching
  2. Line Pruning or Line Trimming

Line Stretching can be divided in to

  1. Stretching up
  2. Stretching Down
  3. Line Filling