Managing product mix involves strategically organizing and refining a company's product offerings to maximize growth, market share, and revenue by focusing on the most promising products and product lines.
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managing product mix
hi I'm Bill Carmody and we're going to
talk about managing product mix
so what is a product mix strategy
a successful product mixed strategy
enables a company to focus efforts and
resources on the products and product
Lines within its offering that have the
greatest potential for growth market
share and Revenue
so let's break that down a little bit
further a product mix strategy has four
dimensions number one is the width
that's the total number of product lines
that a company offers
the length which the total number of
products in a company's product mix
the depth the total number of product
variations in a product line
and consistency indicating how product
lines relate to one another
product mixes vary from company to
company some have multiple product lines
with lots of products in each line but
others have a much more limited approach
let's visualize this
think about this if you're the company
on the far left hand side you've got
product line number one and you can see
that it's got three products under that
first product line so you'd say that the
product line depth is equal to three
because you have three products under a
single product line
then if you look across the entire
organization there are actual three
different product lines so you'd say the
product mix with is also three because
there's three product lines but then
look at product line number three you
have a sub product line one and two with
different products underneath it so
you'd have product line number three has
a length of two this is just the way you
organize the information and then the
that you'd want to look at is across all
the product lines what is the level of consistency
