Question

compare product line and product mix

Answer 1

Answer

compare product line and product mix

Introduction Of Product line

A product line is a group of related products all marketed under a single brand name that is sold by the same company. ... Companies often expand their offerings by adding to existing product lines because consumers are more likely to purchase products from brands with which they are already familiar.

Example

The company's product lines include footwear, clothing, and equipment. etc

Key Points of Product Line

• A product line is a group of connected products marketed under a single brand name by the same company.
• Companies sell multiple product lines under their various brand names, often differentiating by price, quality, country, or targeted demographic.
• Companies often expand their offerings by adding to existing product lines because consumers are more likely to buy products from brands they already know.
• Expanding product lines enables a company to target consumers who are either already buying the brand or are likely to buy the brand.

Product mix

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

Example of Product Mix

We can take a simple product mix example of Coca-Cola. For simplicity, assume that Coca-Cola oversees two product lines: soft drinks and juice (Minute Maid). Products classified as soft drinks are Coca-Cola, Fanta, Sprite, Diet Coke, Coke Zero, and products classified as Minute Maid juice are Guava, Orange, Mango, and Mixed Fruit.

Dimensions of a Product Mix

1 Width

Width, also known as breadth, refers to the number of product lines that is offered by the firm. For example, Kellogg’s product lines consist of: (1) Ready-to-eat cereal, (2) Pastries and breakfast snacks, (3) Crackers and cookies, and (4) Frozen/Organic/Natural goods.

2.Length

Length refers to the total number of products in a firm’s product mix. For example, consider a car company with two car product lines . Within each product line series are three types of cars. In this example, the product length of this company would be 6.

3 Depth

Depth refers to the number of variations within a product line. For example, continuing with the car company example above, product line may offer various variations such as coupe, sedan, truck, and convertible.

4 Consistency

Consistency refers to how closely related each product lines are to each other. It is in reference to their use, production, and distribution channels. The consistency of product mix is advantageous for firms attempting to position themselves as a niche producer or distributor. In addition, consistency aids with ensuring a firm’s brand image is synonymous with the product or service itself

Conclusion

The difference between a product line and a product mix is that a product line is a group of products or services that have been classified together, can be used together, the same customers use, can be purchased in the same place, and have a price range that they fall within for consumers to purchase.