Marketers typically measure product mixes according to width, length, and depth.
The correct answer and explanation is :
The correct answer is that marketers measure product mixes based on three key dimensions: width, length, and depth.
- Width: This refers to the number of different product lines a company offers. A product line is a group of related products under a single brand. For example, a company like Samsung may have product lines in electronics, such as smartphones, televisions, and home appliances. The width of a product mix represents the diversity of product categories available in the market.
- Length: This refers to the total number of products within each product line. It is the sum of all the individual items offered across various product lines. For instance, within the smartphone product line, Samsung might offer different models, such as Galaxy S series, Galaxy A series, and Galaxy Note. The length represents how many individual products the company offers in each specific category.
- Depth: This is the number of variations of each product in a product line. Variations can include differences in size, color, flavor, or features. For example, if the company sells smartphones, the depth could include different screen sizes, storage options, or colors available for each model. Depth indicates how specialized a product line is, allowing companies to cater to different consumer needs and preferences.
Together, these three elements—width, length, and depth—make up the entire product mix, which is the total set of products a company offers to the market. By analyzing and adjusting these dimensions, companies can ensure they are offering the right combination of products to meet consumer needs, target different segments, and maximize their market presence.
For example, a company with a wide product mix may be able to appeal to a broader market, while a company with greater depth in one product line might be able to capture the attention of a more specific segment of customers.