Abstract
The product mix of a company, which is generally defined as the total composite of products offered by a particular organization, consists of both product lines and individual products. A product line is a group of products within the product mix that are closely related, either because they function similarly, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges. Product mix consistency refers to the functional closeness of the company's products. Increasing product mix width or depth or decreasing consistency may not necessarily be a step toward improvement. Product mix decisions should be based on company resources and market needs. The Boston Consulting Group matrix is an aid in product mix decision-making. It organizes the product mix in a matrix based on the market share and market growth rate of products. A product with a high market share and high market growth rate is called a star product.
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