product mix

Range of products sold by a firm. For example, a supermarket sells food, but it may also sell clothes, electrical equipment, beauty products, and stationery; an electrical appliance manufacturer may sell washing machines, dishwashers, refrigerators, and televisions. A firm may expand its product mix by offering different products for sale; for example, a clothes shop may add underwear to its range. It may extend existing ranges; for example, a car manufacturer may bring out a special edition of an existing car model. It may change existing products; for example, a washing powder manufacturer may add more blue flakes to an existing brand and declare it to be ‘new’ and ‘improved’, or a food company may repackage a product.