Factors affecting the product mix of a company

Company objectives- The objectives of a company influence all aspects of its operations, even the product mix of the company.

Resources- The resources available with a company hugely impact its product mix. A shortage in the resources required for the production of the products may lead to losses for the business. The procurement of new resources or advanced technology might lead to the production of new products.

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Competition- The availability or lack of competition is a determinant for the product mix of a company. A company wanting to outperform a competitor might come up with new and improved products in its product mix.

Demand- The demand in the market tells the company what the consumer wants. If there is a high demand for a certain product, the company might expand its product mix to include the said product.

Production Capacity- The production capacity is one of the major factors that influence the product mix. Firms with a large production capacity can produce more goods and have a big product mix.

Costs of production- The costs that are involved in the production of goods plays a crucial role in the product mix of a company. A firm incurring high costs in manufacturing its products might opt to have a small product mix. A firm that can produce its products at low expenses might have a big product mix.

Starbucks is a popular chain of coffeehouses across the world. It has numerous products to offer. It mainly offers a variety of beverages, snacks, coffee pods and powders, and even its range of designer drinkware. So, these are the four main product lines that Starbucks has to offer. The width of Starbucks’ product mix will be 4. Under every product line, Starbucks offers a lot of options to choose from based on flavors, sizes, recipes, and colors. All of such products are the product items under the different product lines of Starbucks. All variants of drinks available at Starbucks will be the depth of the beverage line of Starbucks. The consistency among the product lines of Starbucks is fairly strong, barring the drinkware line. The beverage, snacks, and coffee pods & powders are all edible products and closely related.

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