What is product width?
Width – Number of Product lines
Width or breath of the product mix means the total number of product lines that a company offers to sell. For instance, if a company offers milk and yogurts, it indicates that it has two lines. … Its product mix width is 4.
What is product depth?
Product depth refers to the variation in products that a company offers within one product line. … Product depth can include details like a product’s size, flavor, useful life and more.
What is product line depth and width?
product line breadth: The breadth of the product mix consists of all the product lines that the company has to offer to its customers. depth of the product line: Line depth refers to the number of subcategories a category has. product mix: The complete set of all products a business offers to a market.
What is product length and width?
Product Length: refers to total number of products sold within a product line. … Product Width: refers to number of separate product lines offered by a company.
What does product mix width mean?
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 is product consistency?
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 line width with example?
#1 Width. Width, also known as breadth, refers to the number of product lines offered by a company. 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.
What is product mix with example?
Product Mix, another name as Product Assortment, refers to several products that a company offers to its customers. For example, a company might sell multiple lines of products, with the product lines being fairly similar, such as toothpaste, toothbrush, or mouthwash, and also other such toiletries.
When a business adds depth to its product mix it?
There are four key product mix strategies: Expansion: A company increases the number of product lines or depth (i.e., product variations) within lines. Contraction: A company narrows its product mix to eliminate lower-performing products or lines or to simplify remaining products or lines.
What is the range of the depth of Nestle product line?
Within the range of Nestlé’s milk products include growing up milk, full cream, filled milk and adult milk. The depth of a product mix refers to how many variants are offered of each product in the line. For instance, Nestlé adult milk comes in two functional forms (bone and heart health).
What are the 3 product mix strategies?
The major product mix strategies (given by William Stanton and others) have been discussed briefly as under:
- Expansion of Product Mix. …
- Contraction of Product Mix. …
- Deepening Product Mix Depth. …
- Alteration or Changes in Existing Products. …
- Developing New Uses of Existing Products. …
- Trading Up. …
- Trading Down. …
- Product Differentiation.
How do you calculate product mix?
Follow these steps to calculate it at the individual product level:
- Subtract budgeted unit volume from actual unit volume and multiply by the standard contribution margin.
- Do the same for each of the products sold.
- Aggregate this information to arrive at the sales mix variance for the company.
What is product mix class 12?
“Product mix” means the total number of products and items that a particular marketer offers to the market. MAJOR COMPONENTS OF PRODUCT MIX ARE. Branding. Packaging. Labeling.
What are the 3 components of a product?
Some of the most important components of a product are : 1. The Core Product 2. The Additional Features 3. Brand Name 4.
What are the 5 product mix strategies?
Five product mix pricing situations
- Product line pricing – the products in the product line.
- Optional product pricing – optional or accessory products.
- Captive product pricing – complementary products.
- By-product pricing – by-products.
- Product bundle pricing – several products.
What are the four main product mix strategies?
They are the product, price, place, and promotion of a good or service. Often referred to as the marketing mix, the four Ps are constrained by internal and external factors in the overall business environment, and they interact significantly with one another.
What are the 6 parts of a product?
In this chapter, we continue our exploration of the total product by discussing the product components – the goods, services, ideas, experiences, people, and place. The components that combine to make up a product.
What are the four elements of a product?
These are called the 4P’s and are product, price, promotion, and place. These four components help determine a clear and effective strategy to bring a product to market. Each element is crucial in its own right and needs to be given due focus.