Question

Short Answer Question.
What is a product mix? Describe briefly the salient features of the product mix.

Answer 1

Product mix is the total range of product lines and types that a company offers for selling to the customers.

Any product mix of a company contains four main components. They are:

1. Length- It is the range of products available in a particular product line of a company.
2. Breadth- This refers to the number of product lines under a company. It helps to understand the variety of products offered to the market.
3. Depth- It refers to the options available in particular product line such as different quantities, sizes etc.
4. Consistency-]It describes how closely related product lines are to one another--in terms of use, production and distribution.