This refers to the set of all the product lines and items produced and offered for sale by a supplier.
The product mix may vary from widely varying items, for example a utility company also selling insurance and other financial services, to variations on individual products, for example chocolate bars made in different sizes or sold in single of multiple packs. Businesses with a blend of items in their product mix are typically better protected against sudden changes in demand for individual items.
Product mix is a term normally found in business and strategic management. Explore our learning zone to discover more