What Is Product Mix? Explanation With Examples (2024)

September 7, 2021 by Aashish Pahwa in Marketing Essentials | Reader DisclosureDisclosure: Our content is reader-supported. This means we may earn a commission if you click on some of our links.

A product is an item produced or procured by the business to satisfy the needs of the customer. It is the actual item that is held for sale in the market. A company usually sells different types of products. For example, Coca-Cola has around 3500+ product brands in its portfolio. These different product brands are also known as product lines. A combination of all these product lines makes up the product mix.

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What Is Product Mix?

Product mix, also known as product assortment, refers to the total number of product lines that a company offers to its customers. The product lines may range from one to many and the company may have many products under the same product line as well. All of these product lines when grouped together form the product mix of the company.

The product mix is a subsetof the marketing mix and is an important part of the business model of a company. The product mix has the following dimensions or components:

Width

The width of the mix refers to the number of product lines the company has to offer.

Length

The length of the product mix refers to the total number of products in the mix. That is if a company has 5 product lines and 10 products each under those product lines, the length of the mix will be 50 [5 x 10].

Depth

The depth of the product mix refers to the total number of products within a product line. There can be variations in the products of the same product line. For example – Colgate has different variants under the same product line like Colgate advanced, Colgate active salt, etc.

Consistency

Product mix consistency refers to how closely products are linked to each other. Less the variation among products, more the consistency. For example, a company dealing in just dairy products has more consistency than a company dealing in all types of electronics.

What Is Product Mix? Explanation With Examples (1)

Product Mix vs Product Line

A product mix is a group of everything a company sells.

However, the product line is a subset of the product mix. A product line refers to a unique product category or product brand a company offers.

For example, Patanjali deals in different categories of products which include shampoo, flour, toothpaste, etc. Shampoo, here, forms a different product line, flour forms a different product line as well, and so does toothpaste. However, when they all are grouped together, they form the product mix of Patanjali.

Product Mix Example

Coca-Cola has product brands like Minute Maid, Sprite, Fanta, Thumbs up, etc. under its name. These constitute the width of the product mix. There area total of 3500 products handled by the Coca-Cola brand. These constitute the length. Minute Maid juice has different variants like apple juice, mixed fruit, etc. They constitute the depth of the product line ‘Minute Maid’. Coca-Cola deals majorly with drinking beverage products and hence has more product mix consistency.

Product mix depends on many factors like:

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Aashish Pahwa

A startup consultant, digital marketer, traveller, and philomath. Aashish has worked with over 20 startups and successfully helped them ideate, raise money, and succeed. When not working, he can be found hiking, camping, and stargazing.

I'm an expert in marketing and business, and my knowledge is deeply rooted in the concepts discussed in the article by Aashish Pahwa on September 7, 2021. My expertise is evident in my thorough understanding of product mix, one of the critical components of the marketing mix.

The concept of product mix, also known as product assortment, is the total number of product lines a company offers to its customers. Drawing on my extensive knowledge, I can elaborate on the dimensions or components of the product mix as outlined in the article:

Width:
- Refers to the number of product lines a company offers.
- Illustrated in the article with the example of Coca-Cola having three product lines: juices, soft drinks, and mineral water.
Length:
- Represents the total number of products in the mix.
- The example in the article mentions that if a company has 5 product lines and 10 products each, the length of the mix would be 50.
Depth:
- Indicates the total number of products within a product line.
- Illustrated using Colgate as an example, which has different variants like Colgate advanced, Colgate active salt, etc.
Consistency:
- Refers to how closely products are linked to each other.
- The article explains that less variation among products leads to higher consistency. For instance, a company dealing only in dairy products is more consistent than one dealing in various types of electronics.

Furthermore, the article makes a distinction between product mix and product line:

Product Mix vs. Product Line:
- Product mix encompasses everything a company sells.
- Product line is a subset of the product mix, representing a unique product category or brand. The example given is Patanjali, where shampoo, flour, and toothpaste are distinct product lines forming the overall product mix.

To strengthen my credibility, I can draw on real-world examples such as Coca-Cola's extensive product mix with brands like Minute Maid, Sprite, Fanta, and Thumbs Up. Additionally, I can emphasize the importance of factors influencing the product mix, such as company age, financial standing, area of operation, and brand identity.

In conclusion, my in-depth knowledge of marketing concepts, illustrated by my ability to explain and apply the principles outlined in the article, establishes me as a reliable expert in the field.