What is the Difference Between Marketing Mix and Product Mix?

The key difference between marketing mix and product mix lies in their scope and focus. Here are the main differences:

• Marketing Mix: This is a broader term that includes the complete array of marketing tools and strategies used by an organization to achieve its desired results from its products or services. The marketing mix consists of four elements: product, price, promotion, and place (distribution). It represents the mixture of 7Ps – product, place, price, promotion, people, process, and physical evidence – to optimize the revenue generation capacity.
• Product Mix: This refers to the set of different product lines or product types produced by a company. The product mix consists of four major factors: the width (total number of product lines), the length (total number of products in each line), the depth (variety of colors, sizes, etc.), and the consistency (degree of similarity between product lines in terms of their end use, production requirements, price, supply channels, advertising media, etc.). Product mix is a subcategory of the marketing mix, as it is directly related to the variable of the product.

In summary, the marketing mix is a broader concept that encompasses various marketing strategies and tactics, while the product mix focuses specifically on the different product lines or types produced by a company. Both are essential components of an organization's overall marketing strategy.

Comparative Table: Marketing Mix vs Product Mix

The main difference between marketing mix and product mix lies in their scope and the elements they include. Here is a table comparing the two concepts:

In summary, marketing mix is a broader concept that encompasses the entire array of marketing tactics, including product, price, place, and promotion. On the other hand, product mix is a subcategory of the marketing mix and focuses specifically on the range of products a company offers to its customers.