What is a product mix?

Question

Roger Raber · Accepted Answer

A product mix is the total product line offered by a company. From a marketing approach, a product mix represents the materials that are to be assessed, enhanced, and aimed at a target audience.

The importance of a company's product mix in marketing and advertising lies in the consistency of branding and identifying a target audience. For companies that offer multiple products, it is important that their branding is consistent and recognizable. A consistent branding effort can help struggling products through their association with a top-selling product. Marketing executives are also interested in tying a product line to a specific audience. By targeting an audience demographic, a company is better able to get its message to parties showing the most interest.

Another aspect of a product mix centers on profitability and competition. Some products may not perform well because of how they fit or do not fit within the brand mix. These products can be either rebranded or eliminated from the mix. Competitor competition is considered when a rival brand may offer a product that is not part of your current mix. It may be advantageous to develop a product to fill this void.