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| 1. Alteration: A product-mix strategy in which a business makes changes to its products or product lines |
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| 2. Broad product mix: A description of the width of a business’s product mix offering many product lines |
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| 3. Cannibalization: The situation that exists when the sale of one of a company’s products takes away sales from another of its products |
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| 4. Competition: The rivalry between two or more businesses to attract scarce customer dollars |
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| 5. Consistency: A product-mix dimension referring to how closely a company’s product lines are related in terms of the products’ end use, methods of distribution and production, target market(s), and/or price range |
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| 6. Contraction: A product-mix strategy in which a business removes, or deletes, product items or product lines from its product mix |
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| 7. Deep product mix: A description of the depth of a business’s product mix offering a great many items in the product line |
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| 8. Depth: A product-mix dimension referring to the number of products and the assortment of sizes, colors, and models offered in a product line |
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| 9. Expansion: A product-mix strategy in which a business expands its product mix by adding additional product items or product lines |
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| 10. Goods: Tangible objects that can be manufactured or produced for resale |
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| 11. Liabilities: Responsibilities of the business, especially legal responsibilities |
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| 12. Narrow product mix: A description of the width of a business’s product mix offering a limited number of product lines |
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| 13. Product item: Each individual good, service, or idea that a business offers for sale |
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| 14. Product line: A group of related product items |
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| 15. Product mix: The particular assortment of goods and services that a business offers in order to meet the needs of its market(s) and its company’s goals |
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| 16. Product-mix strategies: The ways in which businesses handle, or manage, their product mixes |
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| 17. Service(s): Intangible activities that are performed by other people for money; productive acts that satisfy economic wants |
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| 18. Shallow product mix: A description of the depth of a business’s product mix offering few items in the product line |
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| 19. Target market: The particular group of customers a business seeks to attract |
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| 20. Trading down: A product-mix strategy in which a business adds a lower priced product or product line to its product mix |
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| 21. Trading up: A product-mix strategy in which a business adds a higher priced product or product line to its product mix |
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| 22. Width: A product-mix dimension referring to the number of product lines carried by a company |
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