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PRODUCT MIX STRATEGYPRODUCT MIX
A product mix is the total of all products and items that are offer by particular seller.PRODUCT LINE
A product line is a group of products that are closely related in some way.
Product LineA product line is a group of individual products that are closely related in some way.Individual ProductAn individual product is any brand or variant of a brand in a product line.Thus a product mix is a combination of product lines, which are combinations of individual products.
Any product mix can be defined in terms of width, length, depth and consistency.
Product MixLengthProduct mix length refers to the number of products in a product line.Product MixWidthThe number of product lines in the product mix. The more product lines, the wider the product mix.Product MixdepthProduct mix depth refers to how many variants are offered of each productProduct MixConsistencyProduct mix consistency refers to the relatedness of the different product lines in a product mix.Product Line Stretching
when a business adds new product to the product line Downward StretchIf the new product types are cheaper or of a lower quality it is known as a downward stretch. Upward StretchIf the new product types are more expensive or of a higher quality it is known as an upward stretchProduct mix strategyProduct mix widthProduct mix lengthLux
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