Question

ssion Topic Total Post:0 My Posts: 0 Describe what is meant by product mix and provide examples from a Fortune 500 company.

Answer 1

Ans:

The product lines that are offered by a company to the customers is called its product mix. All the products in various product lines come under product mix. There can be different types of products in different in different product lines. All are included under the company's product mix. For e.g., PepsiCo as a company has 22 brands in their product mix serving various product lines ranging from processed foods to beverages. Following are the dimensions of the product mix:

• Width: The width of the product mix specifies the number of product lines that companies are offering to the customers. For e.g., Amazon has started selling their own labelled brands of food, electronics and other things in addition to its cloud services which makes its product lines number to 72.
• Length: The length of the product mix refers to the number of products in the product mix. For e.g, Coca-Cola has about 3500+ products in its product mix in different product lines.
• Depth: The depth refers to the number of products in each product line. For e.g., Apple has 18 different variants in its iPhone product line. So, it's depth is 18.
• Consistency: The consistency refers to the relation between the different product lines of the company. For e.g., Coca-Cola company is more consistent in its product lines than Apple as Coca-Cola has beverages in all its product lines but Apple has different kinds of electronic devices in its portfolio.