what is product mix

A product mix refers to the complete set of products or services offered by a company, including all product lines. It consists of four elements: consistency, width, length, and depth. Consistency shows how closely related the company's product lines are, width refers to the number of product lines a company sells, length is the total number of products in a company's product mix, and depth is the total variations, such as size, flavor, etc. A well- maintained product mix benefits a business in multiple ways, such as effectively meeting customer needs, building a familiar business image, providing focus when growing the business, better inventory management, and more diversification for reduced risk of dependence on a single product or product line. Companies with multiple product lines will have a large product mix, while a company may feature many product lines but always has only one product mix.