The term product mix refers to a combination of products offered by the company.
In practice, it involves decisions about the management and control of products that should be part of the company's offering.
Therefore, it concerns the management of marketing issues and its products.
Product Mix Strategies
The product mix is a dynamic element of the marketing mix, on which depends the choice of products that become part of the company, based on consumer needs, differentiation from competitors, and new opportunities offered by technology and other market-related factors.
To have an effective product mix strategy, various levels of aggregation can be analyzed:
- Number of product lines: they make up the entire range of products available for sale, determining their breadth and the number of models available for each line;
- Product assortment: divided into different lines that group products with significant and homogeneous characteristics.
In addition, product lines are divided into models or items, which differ from one another even by a small detail such as: package sizes, designs, fonts, and distinct colors.
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