Product Mix Vs Product Line
Product mix and product line are two marketing terms that define the products a company produces and have.
Product line on the one hand refers to the group of similar products marketed and sold by a single brand.
On the other hand, the product mix refers to all product lines and items a company has for sale.
These two marketing terms – product line and mix – are often understood as the same but have a huge difference.
Let’s understand the difference between product mix and product line.
What is a Product Line?
A product line is a group of similar products marked and sold under a similar brand. These products have similar features, and functions, and are targeted to a specific market segment.
For example, a company specializing in sports may have shoes of different lines such as running, football, basketball, and volleyball shoes.
With product lines, companies aim to target the market segment having similar characteristics.
With changes in time and the tastes of consumers, companies quickly bring changes to their products to meet customer expectations.
Product line strategy is effective in understanding the needs and expectations of specific consumer groups and offering the products that best meet their expectations.
Under product line strategy, three strategies can be applied to get the best from it, they are line modernization strategy, a line featuring strategy, and a line pruning strategy.
What is Product Mix?
The product mix is a broader concept than the product line. The product mix is the set of all product lines and products that a brand may have to sell.
The product mix includes all the products that a company has whether or not they are related.
For example, following the above example, in addition to sports shoes, the company has a product mix of items like accessories, clothes, detergent, etc.
It is also called product assortment. Product mix does not influence the particular segment of the company, as it targets the broader market, it also affects the whole performance of the company.
The product mix has four main components.
- Width – Numbers of product lines offered by a company.
- Length – Product mix length refers to the total number of items in the mix.
- Depth – The depth of the product mix includes the number of items in each product line.
- Consistency – It refers to how closely products are related in the mix. The greater the relatedness between the products, the more consistent the brand will be, and vice versa.
In addition, five main strategies can be used to get the most from the product mix, which includes expansion, contraction, alternation of existing products, trading up, and trading down strategy.
Difference Between Product Mix and Product Line
The following are the key points that differentiate the product mix from the product line and vice versa.
Definition
A product line is a collection of related items that are advertised and offered for sale under a single brand name.
These products are aimed at a particular market sector and have comparable features, functions, or intended uses.
In contrast, the total assortment of products that a company offers, including all product lines, is referred to as the product mix. This includes every item the business sells, regardless of whether they are connected or not.
Subset/Superset
The product line is the subset of the product mix. It comes within the product mix.
Whereas, the product mix is the superset of the product line.
Focus
The product line focuses on a specific group of products under a single brand, while the product mix includes all products offered by a company.
Moreover, managing product lines involves targeting a specific customer segment. And, managing the product mix requires a broader approach to meet the needs and preferences of a wider range of customers.
Objective
The main objective of the product line strategy is to meet the specific goal of the brand or satisfy the specific consumer group.
Whereas, the main objective of the product mix strategy is to meet the overall goal of the company.
Read More: Examples of Consumer Products
Affected By
The product line is affected by changes in consumers’ tastes, preferences, and fashion.
Whereas, the product mix is broadly affected by external factors including political, economic, social, technological, and global factors.
Example
For example, if a company produces different products such as clothes, accessories, appliances, shoes, etc. A combination of all these products is the product mix.
And, clothes, shoes, or appliances are product lines.
Scope
The product line is narrower in scope, focusing on a specific category of related products within a company’s offerings.
In contrast, the product mix has a broader scope, covering all product categories offered by the company, including various product lines.
The product mix spans the company’s entire range, whereas the product line deals with a specific set of products.
Read More: Marketing Philosophies with Examples
Flexibility
A product line tends to be more flexible in terms of updates and changes, as it can easily introduce new variations or discontinue underperforming products within that category.
A product mix, on the other hand, is less flexible as it encompasses a broader assortment, and any changes affect multiple product lines, making it a more complex decision.
Marketing Strategy
The product line often uses a more targeted marketing strategy, as it addresses the needs of a specific customer group with similar products.
For instance, a company might market its product line of eco-friendly products to environmentally conscious consumers.
Meanwhile, the product mix requires a comprehensive marketing strategy that caters to the entire range of products and appeals to a broader audience.
Financial Impact
A product line has a more direct financial impact on the company since the performance of individual products within that line can significantly affect overall profitability.
In contrast, the product mix has a more diversified financial impact, where the success or failure of one product line may be balanced out by other successful product lines. Thus, a broader product mix can reduce overall business risk.
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Sajan Kushmi is a content writer with more than 4 years of experience. He holds BIM Degree. He write on the topics related to Management, Marketing, and Entrepreneurship.