Refers to the average number of items offered by the company in each product line

ASSEMBLING THE MARKETING MIXPRODUCTDefinitionoA product is anything that can be offered to a market forattention,acquisitionorconsumption.oIt includes physical objects, services, personalities, places organisations and ideas.Levels of a productCore product1.This refers to the essential utility or benefit that is being offered to, or sought by the buyer2.The marketer’s task is to sell benefits not features. The product therefore needs to bebenefitized.Formal product1.This is the physical product itself.2.The physical object or service that is offered to the target market. It is what is readily offered tothe target market.3.It is what is readilyrecognizable. If it is a physical product then it has five characteristics;oQuality leveloFeaturesoStylingoBrand nameoPackagingAugmented product1.Totality of benefits that a person receives or experiences in obtaining the formal product2.It includes accompanying services;oAfter-sales servicesoCustomer adviceoFinancingoDelivery arrangementsoWarehousingProduct decisions are made at three levels; Discuss product mix1.Product item-this is a specific version of a product that has a separate designation to the sellerlist.2.Product line-this is a group of products that are closely related either because:oThey satisfy a class of needsoAre used togetheroSold to the same customer groupsoAre marketed through the same types of outletsoFall within the same given price range3.Product mixThis refers to the composite of products offered for sale by a firm or a business unit.

Product mix, also known as product assortment, refers to the total number of product lines a company offers to its customers. For example, your company may sell multiple lines of products. Your product lines may be fairly similar, such as dish washing liquid and bar soap, which are both used for cleaning and use similar technologies. Or your product lines may be vastly different, such as diapers and razors.

The four dimensions to a company's product mix include width, length, depth and consistency.

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Product mix, also known as product assortment, refers to the total number of product lines a company offers to its customers. The four dimensions to a company's product mix include width, length, depth and consistency.

Width: Number of Product Lines

The width, or breadth, of a company's product mix pertains to the number of product lines the company sells. For example, if you own EZ Tool Company and have two product lines – hammers and wrenches – your product mix width is two.

Small and upstart businesses will usually not have a wide product mix. It is more practical to start with some basic products and build market share. Later on, the company's technology may allow the company to diversify into other industries and build the width of the product mix.

Length: Total Products

The product mix length is the total number of products or items in your company's product mix. For example, EZ Tool has two product lines, hammers and wrenches. In the hammer product line are claw hammers, ball peen hammers, sledge hammers, roofing hammers and mallet hammers. The wrench line contains Allen wrenches, pipe wrenches, ratchet wrenches, combination wrenches and adjustable wrenches.

Thus, EZ Tool's product mix length would be 10. Companies that have multiple product lines will sometimes keep track of their average length per product line. In this case, the average length of your company's product line is five.

Depth: Product Variations

Depth of a product mix pertains to the total number of variations for each product. Variations can include size, flavor and any other distinguishing characteristic. For example, if your company sells three sizes and two flavors of toothpaste, that particular line of toothpaste has a depth of six. Just like length, companies sometimes report the average depth of their product lines; or the depth of a specific product line.

If the company also has another line of toothpaste, and that line comes in two flavors and two sizes, its depth is four. Since one line has a depth of six and the second line has a depth of four, your company's average depth of product lines is five (6+4=10, 10/2=5).

Consistency is Relationship

Product mix consistency describes how closely related product lines are to one another – in terms of use, production and distribution. Your company's product mix may be consistent in distribution but vastly different in use. For example, your company may sell health bars and a health magazine in retail stores. However, one product is edible and the other is not.

The production consistency of these products would vary as well, so your product mix is not consistent. Your toothpaste company's product lines, however, are both toothpaste. They have the same use and are produced and distributed the same way. So, your toothpaste company's product lines are consistent.

Product Market Mix Strategy

Small companies usually start out with a product mix limited in width, depth and length; and have a high level of consistency. However, over time, the company may want to differentiate products or acquire new ones to enter new markets. They may also add to their lines similar products that are of higher or lower quality to offer different choices and price points.

This is called stretching the product line. When you add higher quality, more expensive products, it's called upward stretching. If you add lesser quality, lower priced items, it's called downward stretching.

What does product line refer to?

What is product item and product line?

Which of the following refers to the products in the product line and how these are related to each other?