Difference between product line and product mix pdf

Feb 06, 2019 a product line is a group of products that a company creates under a single brand. Product line consists of closely related product items. A group of individual products that are closely related in some way. The product mix is made up of both product lines and individual products. 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. Product line can be understood as an array of related products, under a specific brand, offered by a particular company to its customers. In this lesson, you will learn the difference between a product mixs breadth and a product lines depth. Jun 21, 2016 product line is a subset of product mix. Product mix, also known as product assortment or product portfolio, refers to the complete set of products andor services offered by a firm. For example, apple offers computers, smart phones, tablets, mp3 players, smart watches, and online services. A product line is a group of related products under a single brand sold by the same company. Product mix is the totality of all product lines and individual products sold by a company. Product mix, product line and product items your article library. Strategic mix decisions usually relate to the width of the product mix.

A product line is a set of related products sold by a single company. May 22, 2020 the width of the product mix is equal to the number of product lines within a company. Productmix is the composite of products offered for sale by a firm or business unit. A product mix is whole selection of product lines you offer. In this lesson, you will learn the difference between a product mix s breadth and a product line s depth. For example, a dairy company has two product lines milk and yogurt. Thus, product line width is a depiction of the number of product lines which a company has. Explain the difference between a product mixs breadth and a product lines depth product mix breadth refers to the number of product lines and the product lines depth refers to the number of products within a. Perhaps their physical attributes, prices, quality, or type of customers are the same. Shampoo, here, forms a different product line, flour forms a different product line as. Kelloggs cereal product item is a specific model, brand, of size of a product within a product line. Nonetheless, even in filebased workflows, there is a distinction between a product being produced and a service provided to fill a need. Positioning refers to peoples perceptions of a brand, an individual product or a product mix.

For example, patanjali deals in different categories of products which include shampoo, flour, toothpaste, etc. Each type is called a product line, and every line is distinct from the others in terms of its use by customers and what benefits people seek from it. Product line is generally used to refer to a set of related products especially the products manufactured by a particular company. May 04, 2018 many students get confused with regards to difference between product marketing mix and service marketing mix. Explain the difference between a product mix s breadth and a product line s depth product mix breadth refers to the number of product lines and the product line s depth refers to the number of products within a product line. How a product mix can be used to enhance the value of a. Stretching the product line the marketing study guide. The products are similar and focus on the same market sector. The third product level is the expected product, which refers to the specific features that the consumer expects to obtain when buying the product. A product line would be a group of these products associated by. The product mix, also called product portfolio, is the set of all product lines and items that a company offers for sale. Difference between product mix and product line the product mix of a company, which is generally defined as the total composite of products offered by a particular organization, consists of both product lines and individual products.

The name of a product among people is just because of the brand. The astrocosmo problem considered earlier is an example. This close relationship comes from several product attributes. Product mix width, length, depth, consistency with examples. The major key feature of a product is that it is physical and it is also tangible. Companies sell multiple product lines under their various brands. Product mix decisions width, length, depth and consistency. Jun 25, 2018 at last, the consistency of a product mix is the close relationship between different product lines. What are the concerns that need to be considered when adding a new product to a product line. You also need to be careful to adequately differentiate your products or you risk. Apr 08, 2020 a product mix is a group of everything a company sells. Although product mix problems are seldom encountered in their simple textbook form in practice, they very frequently constitute important. Whether youre involved in goods or services, your company generates revenue through marketing products. Product mix, also known as product assortment, is the total number of product lines that a company offers to its.

Decrease depth by deleting products within a product line to realign a firms resources. Service marketing mix has the same 4 ps as the product marketing mix, but it has 3 extra ps which have to be included in the service marketing mix. Product strategy by marty cagan apr 10, 2009 in keeping with my recent theme of product planning, id like to focus in this article on an important distinction and source of frustration in many companies, and that has to do with the differences between business strategy and product strategy. A product line is a group of products that are closely related manufactured by a single company. Thus, taking the above example, if there are 4 product lines within the company, and 10 products within each product line, than the product line width is 4 only. All the products a given company produces comprise the product mix, or product assortment. A product line is just a group of related products from a single manufacturer, like the cars on a. Each of these would be considered a separate product line and under each product line they could offer a broad range of different products designed for different needs.

Some companies have thousands of different products in their mix. If they were to offer a basic smart phone they would be stretching their product line downward that is, taking it beyond the standard offering and introducing types of products that would appeal to. An observable relationship exists between the characteristics of a product and the approximate marketing mix for that product. A company with a wide product mix is generally perceived as more of an expert in the industry than a competitor with only one line. A good understanding of product mix is a key element of marketing management. If a company has 4 product lines, and 10 products within the product line, than the length of the product mix is 40. Stretching the product line again if we use the apple example above, in the mobile phone market apple only offers smart phones of high quality. On the other hand, product line refers to related products with similar. Four important dimensions of a product mix can be identified. Product mix and product line understanding product. A product portfolio is the collection of all the products or services offered by a company.

The major difference between the two concepts is that a product is tangible while a service is intangible. Difference between product and service difference between. Amul offers a series of closely related products such as milk, butter, ghee, dahi, yoghurt, ice cream, srikhand, gulab jamun, flavoured milk, chocolate, etc. Before turning to the product mix decisions, we first have to know what the product mix actually is. A product line is a related set of products offered by a firm. The first of the product mix decisions refers to the product mix width. Every organization has a product mix that is made up of product lines. Product mix a product mix is the set of all products and items that a particular seller offers for sale. Product line product line refers to a group of products that function in a similar manner, sold to the same customer groups via same distribution channels and fall within the same price range product mix product mix is the entire collection or assortment of products or product lines offered by an organisation product line is a group of products that are related to each other in. This equation is also known as product line length. What is product mix width product mix refers to the full range of products a company makes. As mentioned in the previous example, colgate has 3 product lines.

Product mix refers to the total number of products of a company offer to sell. Product mix overview, dimensions and practical example. Maybe their function or channel distribution are the same or similar. Product line product line refers to a group of products that function in a similar manner, sold to the same customer groups via same distribution channels and fall within the same price range. Difference between product marketing and service marketing. Difference between marketing mix and product mix compare. The width is all about the number of different product lines the company carries. A product mix consists of product lines, which are associated items that consumers. Difference between product mix and product line top differences. Oct 30, 2015 both product mix and marketing mix are part of this tactical framework. The relatedness of the different product lines in a.

The complete set of all products a business offers to a market. Product portfolio analysis can provide nuanced views on stock type, company growth. What is the difference between product line and product item. Jan 20, 2018 knowing the difference between product marketing and service marketing will help you understand the scope of marketing. Product line decisions building a strong product line. Product mix is the composite of products offered for sale by a firm or business unit.

Aug 03, 2014 discuss different productmix and productline strategies. The total assortment of products and services marketed by a firm. Product mix, also known as product assortment, is the total number of product lines that a company offers. This dimension of the product mix represents the extent to which the activities of the firm are diversified. A softdrink purchaser will expect a cool, refreshing drink. What is the difference between product line and product. The difference between a product item, product line and the product mix product line is vertical, which a firms total product offering designed to satisfy single need for target customers. Product mix usually refers to the length the number of products in the product line, breadth the number of product lines that a company offers, depth the different. Jan 26, 2019 a product line is just a group of related products from a single manufacturer, like the cars on a dealers lot or the shampoos at your hairdresser. Product mix and product line understanding product length, width. The key difference between marketing mix and product mix is that marketing mix is a broader term which includes the complete array of marketing tactics while product mix only refers to few elements of the product variable from the whole marketing mix. On the other hand, a firm with a narrow product mix could be positioned as a boutique marketer of highly specialized goods.

Both the lines have same users and distribution channels. The breadth of a product mix shows the different kinds of product lines that firm carries. The variety of products that a company produces, or that a retailer stocks is known as product line. For instance, a company might want to maintain longer product lines to protect against economic swings. The difference between a product item product line and the. However, up to the present, there appears to be no systematic statement of the relationships between product characteristics and each of the elements in the marketing mix. Detergent is a product line and liquid detergent, powder, bar soap etc are variants. The width, or breadth, of a product mix is a measure of how many different types of products the organization offers. Because of factors such as these, a decision is made either to identify ways of adjusting the product in order to further distinguish it from others, or to design a. What is the difference between product line and product mix. For the purposes of the digitization services branch products and services project, these are the definitions of each component. Most brands and businesses sell an assortment of products or services. Main characteristics of product line can be listed as. This is where the concept of product mix and product line decisions occur, this article clearly explains the differences between product mix and product line in a detailed manner along with examples.

The product mix of a company involves all of the products that a company has for sale. More details about the differences between a product and service are clearly outlined below. What is product line, product mix, line extension, line. Product line is a group of closely related products manufactured or sold by a business ex. Product line is nothing but type of product and it will have different variants. Product mix, also known as product assortment or product portfolio, refers to the complete set of products and or services offered by a firm. Product line consists of related productsmanufacturedby a company, and product range sometimes referred to as product mix consists of all products manufactured by a company. The product line length can be influenced by company objectives and resources. Product mix product mix is the entire collection or assortment of products or product lines offered by an organisation. Difference between product marketing mix and service.

For example, if a company owns a line of hygiene products and also owns a line of house cleaning products, all of those products together would constitute the product mix for the company. Jul 26, 2018 the significant difference between product and brand is that a product is a single entity, but there can be millions of products under a single brand. In this category, marketing executives generally distinguish. The product mix could include several lines of products or individual products that do not fall into a line. The width of a product mix refers to how many different product lines the company carries. A product line is a group of products that a company creates under a single brand. Difference between product and brand with examples and. Difference is only found in terms of colour, size, shape, model, performance, weight, and capacity. Product marketing in a business addresses five important strategic questions. It is a broad group of products, intended for similar uses and having similar characteristics. A product line refers to a unique product category or product brand a company offers. Simply, it shows the number of items in the product line. The more product variation means less product consistency. Thus, the total number of product line against the total number of product lines forms the length of the product mix.

Product mix of a company is made of all product lines and items. However, the product line is a subset of the product mix. Product mix and product line understanding product length. Buyer types buyer types is a set of categories that describe the spending habits of consumers. A companys product mix has the certain width, length, depth and consistency. Width is one of the ways marketers describe the extent of a companys product mix. Product mix is defined as the set of all products and items that a particular seller offers for sale. All are electrically operated appliances and the firm sells them through common distribution network. In a product marketing mix, only 4 ps are applicable which are product, price, place and promotion, but in the case of service marketing, 3 more ps are added to the conventional marketing mix, which are people, process and physical existence. What is the differencebetween product line and product mix. Difference is only found in terms of colour, size, shape, model, performance, weight, and. For example, if your company makes pet food, one line of products might be cat food, and the individual products would be a 5pound bag, a 10pound bag, and a 25pound bag. Though, the firm has 4 productline but there are two similarities in common. Difference between product mix and product line, products.