A product mix (or product assortment) refers to all the product lines and items that a particular firm offers for sale. Say, a manufacturing firm may have a capacity to produce, kitchen appliances, cars, and mobile handsets. These are examples of a product mix. Product mix consists of a number of product lines. That is various models of cars, mobile handsets and kitchen appliances produced by the firm. These various models , for examples, various models under car, mobile handsets and kitchen appliances are product lines.
Product lines are group of products manufactured by a firm that are closely related in use and in production and marketing
requirements. The depth of the product line refers to the number of different products offered in a product line. The manufacture’s product mix has four important dimensions: width, length, depth, and consistency. Product mix width refers to the number of different product lines the company carries. Product mix length refers to the total number of items the company carries within its
Product line depth refers to the number of versions offered of each product in the line. The consistency of the product mix refers to how closely relate the various product lines are in end use, production requirements, distribution channels, or some other way.
The three levels of a product: this is a total product concept where a product is understood as a bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs. For instance, if a product is a tangible product, this product still can be understood as a product with three levels.
Let us say that product is a computer to be purchased for primary school teaching. This computer , as a product, has three levels which are a bundle of physical, service and symbolic attributes:
- Level one: Core product is the benefit the product gives as a value such as convenience, speed and efficiency to the user. In this sense, the core product is intangible.
- Level two : Actual product is the physical product that comes as branding, colour, quality, style and fashion
- Level three: Augmented product is the non-physical part of a product which includes installation, delivery, warranties, customer care and finance.