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What is product mix definition?

What is product mix definition?

A product mix is the total number of product lines and individual products or services offered by a company. Additionally referred to as product assortment or product portfolio. Product mixes vary from company to company. Some have multiple product lines with lots of products in each line.

What is the definition of a product mix quizlet?

Product mix. A particular assortment of products a business offers to meet its market’s need and its company’s goals. Product line. A group of related product items (toothbrush, toothpaste, mouthwash etc.)

What is product mix width and examples of width?

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.

What are products examples?

A product is any item or service you sell to serve a customer’s need or want. They can be physical or virtual. Physical products include durable goods (such as cars, furniture, and computers) and nondurable goods (such as food and beverages).

Which is not the example of services?

“Fishing” may include catching aquatic animals other than fish, such as molluscs, cephalopods, crustaceans, and echinoderms. Therefore we can state that fishing is not service sector.

Which of the following is an example of a product feature?

Other examples of product features might include razors with five-blade heads, power drills with interchangeable bits, fridges that can make crushed ice etc. You get the idea.

What is the difference between a product line and a product mix quizlet?

A product line is a group of products within the product mix that are closely related, either because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.

What is a product item example?

3. Product items are complementary to one another. For example, tube, tyre, and related materials. 4.

What is product mix of Nestle?

Product Mix of Nestle India Ltd. Company

Product Name Year Product Mix (%)
Milk Products 2021 42.61
Prepared Dishes & Cooking aids 2021 30.93
Confectionery 2021 14.43
Beverages (Powdered) 2021 11.5

Which of the following is not an example of the service sector that may not directly help in the production of goods * 1 point Washermen lawyers barbers Dairy?

Answer: The essential services, included in the service sector, that may not directly help in the production of goods are as mentioned below : Teachers. Doctors. Persons who provide personal services such as washerman, barbers, cobblers, lawyers and people to do administrative and accounting works.

Is the example of product?

What is an example of product mix?

Product mix refers to the complete set of products or services offered by a business. These products or services are usually grouped within product lines, representing the different types of products offered For example, The Coca-Cola Company has their signature Coca-Cola brand, featuring original Coca-Cola, Diet Coke, Coke Zero, Cherry Coke, etc.

What is an example of mix consistency?

For example – Colgate has different variants under the same product line like Colgate advanced, Colgate active salt, etc. Product mix consistency refers to how closely products are linked to each other. Less the variation among products, more the consistency.

What is the difference between product mix and product line?

See, a product mix is a group of everything that’s offered by a company. Whereas, a product line is a subset of the product mix. It refers to one line of similar products that are sold by a company. Basically, products within a product line would have nearly similar functions, benefits, target audience, and distribution channels.

What are the components of product mix strategy?

Length The length refers to the total number of products in a firm’s product mix strategy. 3. Depth Depth refers to the number of variations that exist in a product line. 4. Consistency This refers to how closely the products in a product line are related to each other. A popular and classic example of Product Mix is the brand Coca-Cola.

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