Product mix: Discover how a balanced product

Discover how a balanced product mix helps companies cater to diverse customer needs and target markets. Learn about product strategies and more. Meaning of Product Mix The first element of the marketing mix is Product and it depicts the tangible or intangible goods offered by organisations to customers to satisfy their needs and wants. In simple terms, it is a bundle of utilities. Product Mix means the important decisions related to a product like the design of the product , quality of the product , the quantity of the product , packaging of the product , etc. Besides these decisions, product assortment is also an essential part of the ... Learn what product mix means, how it affects a company's brand image, and how it relates to the marketing mix of four Ps. See examples of product mix strategies and factors that influence them. What is a Product Mix Strategy ? A successful product mix strategy enables a company to focus efforts and resources on the products and product lines within its offerings that have the greatest potential for growth, market share, and revenue. Product Line vs. Product Mix ? First, it’s important to note how the product line and the product mix differ. A product line refers to a product category or brand marketed by a company. Products within a product line all perform a similar function ...