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Product Mix is the total number of product lines, varying from one to many, which an organization offers to its customers.

Product Mix or Product Assortment groups all the products. Its main dimensions are length, width, depth, and consistency.

Product Width

Product Width refers to the range of separate product lines that an organization offers to its buyers

Example – Small-scale businesses have a narrow product width

Product Length

Product Length refers to the total number of products that an organization has sold to its buyers within a product line

Product Depth

Product Depth refers to the number of sub-categories or product variations within a product line that an organization offers to the buyers

Product Consistency

Product Consistency refers to the close association of product lines to each other. It refers to the similarity of the product mix based on use, production, and distribution

Example - Apple (Product Mix)

- Smartphone
- Laptop
- Desktop
- Smart Watch
- TV

Line Stretching

Line Stretching refers to an organizational strategy where a company launches new products with additional/different features in the same product line but beyond the current product range. It can be done in the following ways

Down Market

An organization will be Line Stretching Down Market if there is considerable growth opportunities in value-priced products or involves a lot of risks

Example – iPhone SE

UpMarket

An organization will be Line Stretching Up Market for more growth opportunities or higher margins

Example – Apple

Both Ways Stretch

Both Ways Stretch refers to an organization moving both Down Market and Up Market

Example – Armani Exchange

Line Modernization

Line Modernization refers to a strategy by the organizations where products in a product line are modified to meet new styling needs and preferences of the buyers and relaunched.

Example – Oracle

Line Pruning

Line Pruning refers to minimizing the depth of a product line by removing the less profitable products in a specific product category.

Example – Windows Vista from Microsoft

This video is on the Product mix and Product Line and it has the following sub-topics.

Time Stamps

0:00 Introduction to Product Mix
00:33 Product Width: Number of Product lines
01:07 Product Length: Total Products
01:28 Product Depth: Product Variations
01:52 Product Consistency
02:22 Example Apple (Product Mix)
02:49 Line Stretching
03:08 Down Market
03:55 UpMarket
04:20 Both Ways [Two-Way Stretch]
04:58 Line Modernisation
05:53 Line Pruning

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