What is the difference between product breadth and product depth?
Jun 06, 2020 · In its most basic definition, product breadth is the variety of product lines that a store offers. It is also known as product assortment …
What is product line breadth?
Jun 26, 2020 · Product breadth is the number of product lines, while product depth is the variety within each of those lines. These two elements combine to make up the store's product assortment or merchandise mix.
What is product mix breadth?
Product breadth is the number of product lines, while product depth is the variety within each of those lines. These two elements combine to make up the store’s product assortment or merchandise mix.
What is market breadth?
Mar 08, 2021 · Product depth refers to the variation in products that a company offers within one product line. Knowing about a line's product depth can help companies understand the degree of differentiation between their products, which can inform which products they continue to sell and where there might be a need to create a new product. Product depth can ...
What is product breadth with example?
Product breadth, also known as width, is the number of product lines that a company offers. For example, a shoe store's breadth might be quantified at six if it offers: Nike. Asics. Brooks.Feb 24, 2021
What is depth and breadth of a product?
What is the breadth of a company?
What is meant by product assortment?
What is the difference between product line and product breadth?
What is difference between width and breadth?
Breadth is used to talk about measurements of larger entities and figurative entities while width is used to talk about the measurements of smaller entities and physical objects. Breadth and width are two words that are commonly used when discussing the measurements of an object.Sep 20, 2015
What is an example of product assortment?
What is breadth strategy?
Why is assortment important in retail?
What is breadth in retail?
What is assortment in supply chain?
What is product mix breadth?
The product mix breadth of a business refers to the all of the products being sold by a particular brand or company. It could include five items or 500 items in a variety of product lines, but encompasses any and every product produced, manufactured, and distributed by the company. Product mix breadth also encompasses all ...
What is a robust product mix?
Most companies boast a robust product mix; that is to say, they produce and sell many different categories of products. However, most companies also offer a variety of items inside of each category, showcasing their product line depth.
What does a clothing store sell?
A clothing store sell a variety of clothing options for women. They may have blouses, pants, dresses, and shoes among their product line breadth. A greeting card store has cards for all occasions. In their product line breadth, they may boast sympathy cards, birthday cards, and congratulations cards.
Product Assortment Planning
The product assortment is the merchandise mix made available for customers at the store to choose and buy from.
Breadth & Depth Definition
Product breadth is how many different products a store is offering for sale. The more products are offered the broader is the product assortment of this business.
Effect of Depth & Breadth on Buying
When you decide on your product assortment strategy and choose between depth vs. breadth you will then need to adapt your buying strategy to this choice.
Product Assortment Examples
Let’s take 2 examples for product assortment choices, and see how the difference in depth & breadth will reflect on the final assortment.
Depth vs. Breadth by Location
Depth vs. Breadth decision will also vary from store location to the other, under the same brand.
Product Assortment Strategy Considerations
We have discussed before that buying is the most important retail function. This is because decisions made at the stage of buying will ripple down to sales and financials and their effects are always amplified and take very long to rectify ( with purchases in fashion typically done 6 months in advance).
What is product breadth?
Product breadth, also known as width, is the number of product lines that a company offers. For example, a shoe store’s breadth might be quantified at six if it offers: This encompasses everything that the store has to offer. Broken down further, categories within breadth may include: Men’s winter boots.
What is product assortment?
Product assortment, also known as product or merchandise mix, is the variety of merchandise that a business offers to customers. In the eyes of a customer, this assortment defines a retailer’s image and why they shop there. Product assortment will also determine a company’s dependence on particular inventory. ...
Is a high product mix bad for your brand?
A high product mix—or a wide range of merchandise —can reduce the risk of dependence on limited items, but selling unnecessary products that don’t connect to your brand’s image can be harmful. For example, if Apple began offering refrigerators, it could confuse customers and hurt the brand.
Should product assortment be stagnant?
According to a 2019 study from Deloitte and Google, product assortment should not be stagnant, but change over time in accordance with customer behavior. A company with a fully mature assortment policy is able to analyze customer metrics and pivot immediately. 1 .
What is product mix?
The mix, or assortment, consists of dimensions called breadth and depth, which ultimately construct a customer’s perception of an establishment. Retailers can expand or shrink these dimensions depending on demand and on the season, but the strategy must always gel with the business’s image and goals. By knowing their customers, remaining adaptable, and keeping an eye on trends, retailers can maintain a product assortment mix that suits their needs and helps their businesses thrive.
Why should retailers provide a broad seasonal assortment?
Masson advises that retailers should provide a broad seasonal assortment so that customers can find what they’re looking for and rely on the establishment for years to come. In October, for example, in order to increase foot traffic, it might behoove a company to expand its assortment of Halloween candy.
How is product life cycle defined?
A product life cycle is the amount of time a product goes from being introduced into the market until it’s taken off the shelves. There are four stages in a product’s life cycle—introduction, growth, maturity, and decline.
What is brand width?
Filters. The level of brand recognition or market share enjoyed by a product, service, or company.
What is product line depth?
Product line depth refers to the number of products offered under a product line.
What are four reasons for expanding a product line?
Four reasons to expand a product line are to build on an already established image, to appeal to new markets, to increase sales and profits, and for the company to be seen as an innovator in the field.
What line is used for large products?
Assembly lines are the most commonly used method in the mass production of products. Assembly lines are able to reduce labor costs because unskilled workers could be easily trained to perform specific tasks.
What is the difference between a product line and a product item?
A product item is a specific version of a product that can be designated as a distinct offering among an organization’s products. A product line is a group of closely related products offered by an organization. An organization’s product mix includes all the products it sells.
What is line stretching?
Line stretching means lengthening the product line beyond the current range. We can differentiate between downward, upward, and 2-way stretching. A company located at the upper end of the market may choose to stretch the product line downward. Thus, it may attract low-end customers and reach new targets.
What is product depth?
Product depth refers to the variation in products that a company offers within one product line. Knowing about a line's product depth can help companies understand the degree of differentiation between their products, which can inform which products they continue to sell and where there might be a need to create a new product.
Why is product depth important?
Product depth is important for companies, as they can use it to identify trends in their products and to assess the products they offer in terms of number and variation. A company might use their product depth to identify products that are similar to other products or to determine areas in a line where they might be able to introduce new products ...
How do companies describe their products?
One way that companies describe their products is through product mix and product depth, which involve assessing the number and types of products that a company offers. Knowing about product depth can be especially beneficial to you ...
Why do companies use product depth?
A company might use their product depth to identify products that are similar to other products or to determine areas in a line where they might be able to introduce new products that have no similarities with the products they currently offer.
What is the sum total of product lines?
When they have more than one, the sum total of product lines a company has is their product mix. Each product line in a product mix might offer several products, ...
What is market breadth?
Market breadth refers to how many stocks are participating in a given move in an index or on a stock exchange. An index may be rising yet more than half the stocks in the index are falling because a small number of stocks have such large gains that they drag the whole index higher. Market breadth indicators can reveal this and warn traders ...
What is breadth indicator?
Traders use market breadth indicators to assess the overall health of a market/index. Market breadth indicators can sometimes provide early warning signs of a drop in the index, or forecast a coming rise in the index.
What is positive breadth?
Positive market breadth occurs when more stocks are advancing than are declining. This suggests that the bulls are in control of the market's momentum and helps confirm a price rise in the index. Conversely, a disproportional number of declining securities is used to confirm bearish momentum and a downside move in the stock index.
What is product in business?
A product is anything that is offered to a market to satisfy customer wants and needs. The product includes both tangible and intangible items available for sale in the market. A company sells a variety of products at a time.
What is a product?
A product is anything that is offered to a market to satisfy customer wants and needs. The product includes both tangible and intangible items available for sale in the market. A company sells a variety of products at a time. For example, PepsiCo sells hundred of products under the product lines of beverages, food, and nutritional products.
What is the product mix of a company?
When these product lines get together are known as the product mix of the company. The product mix is an essential element of the marketing mix because the other elements will work if there is a product or service to offer in the market.
Why is product mix important?
The product mix is an essential element of the marketing mix because the other elements will work if there is a product or service to offer in the market. It is known as the central part of all marketing activities.
What does width mean in product mix?
Width – Number of Product lines . Width or breath of the product mix means the total number of product lines that a company offers to sell. For instance, if a company offers milk and yogurts, it indicates that it has two lines.
What does it mean to have more product variation?
The more product variation means less product consistency. For example, a dairy company has two product lines milk and yogurt. Both lines have the same users and distribution channels. Due to low product variation and high product mix consistency.
What is the length of a product mix?
The length of the product mix means total number of products within the company product lines. For example, if a company has 10 product lines and each line has 3 products, then length is (10×3) = 30.
Product Assortment Planning
Breadth & Depth Definition
- Product breadth is how many different products a store is offering for sale.The more products are offered the broader is the product assortment of this business. Product depth is how many different variations of each product the store is carrying. These variations can be different colors, sizes or any attribute related to the same product. The more...
Effect of Depth & Breadth on Buying
- When you decide on your product assortment strategy and choose between depth vs. breadth you will then need to adapt your buying strategy to this choice. If you are going for a higher breadth/ lower depthstrategy, you will need to carry a wide variety of products. This will mean that you will have to find new suppliers and new product categories/styles/options to buy. Also due to the fac…
Product Assortment Examples
- Let’s take 2 examples for product assortment choices, and see how the difference in depth & breadth will reflect on the final assortment.
Depth vs. Breadth by Location
- Depth vs. Breadth decision will also vary from store location to the other, under the same brand. Not all stores are the same, and so not all stores should carry the same options. The buyer/merchandiser will make his own decision in creating the right assortment for each store, based on many factors, such as store size, location, customer profile,…etc.
Product Assortment Strategy Considerations
- We have discussed before that buying is the most important retail function. This is because decisions made at the stage of buying will ripple down to sales and financialsand their effects are always amplified and take very long to rectify ( with purchases in fashion typically done 6 months in advance). This is why, while making the choice between depth vs. breadth, the buyer or categ…