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Mix and Match

TermDefinition
Alteration A product mix strategy in which a business makes changes to its products or product lines
Broad product mix A description of the width of a business's product mix offering many product lines
Consistency A product mix dimension referring to how closely a company's product lines are related in terms of the product's end use, methods of distribution and production, target market (s) and or price range
Contraction A product mix strategy in which a business removes, or deletes, product items or product lines from its product mix
Deep product mix A description of the depth of a business's product mix offering significant variations of its products.
Depth A product mix dimension referring to the assortment of sizes, shoes, colors, flavors, and models offered in a product line.
Expansion A product mix strategy in which a business expands its product mix by adding additional product its or product lines.
Narrow product mix A description of the width of a business's product mix offering a limited number of product lines.
Positioning A product mix strategy in which a business creates a certain image or impression of a product in the minds of consumers
Product Item Each individual good, service, or idea that a business offers for sale
Product Mix The particular assortment of goods and services that a business offers in order to meet the needs of its market (s) and its company goals.
Product mix strategies The ways in which businesses handle, or manage, their product mixes
Shallow product mix A description of the depth of a business's product mix offering few variations within the product line
Target Market The particular group of customers a business seeks to attract
Trading Down A product mix strategy in which a business adds a lower priced product or product line to its product mix
Trading Up A product mix strategy in which a business adds a higher prices product or product line to its product mix
Width A product mix dimension referring to the number of product lines carried by a company.
Created by: hannahjones25
 

 



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