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.
What is product breadth in retail?
Product breadth in a retail environment is also sometimes referred to as merchandise breadth or product assortment width. Typically, smaller retailers will have smaller merchandise breadth than a larger big-box retailer. They may only offer two or three products compared to a superstore's much larger breadth of ten to 15 products.
What is product mix breadth?
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.
What does breadth mean in stock market?
Understanding 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.
What is breadth and depth of product assortment?
Breadth + Depth = Product Assortment. The product breadth is the number of product lines, while the 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 meant by product breadth?
Width, also known as breadth, refers to the number of product lines offered by a company. For example, Kellogg's product lines consist of: (1) Ready-to-eat cereal, (2) Pastries and breakfast snacks, (3) Crackers and cookies, and (4) Frozen/Organic/Natural goods.
What is product breadth and depth?
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.
What is the breadth of product mix?
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.
Why do we need product assortments?
It aims to provide more variety in the types of product lines offered but does not provide a high number of products in each product line. For example, a grocery store that provides a lot of different products, but only stocks one or two brands for each type of product, is employing a wide assortment strategy.
Why is product breadth important?
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.
What is breadth in retail?
Product breadth, which is the variety of product lines in a store. Product breadth is all about how wide and diverse an assortment is. A retailer that sells many different types of products is considered to have a large product breadth.
What is breadth strategy?
The normative model of brand image management suggests that marketers should base their images on a single set of consumer needs (depth strategy), rather than multiple sets of needs (breadth strategy).
What is breadth distribution?
Distribution channel width is measured by the number of different entities available for providing the same distribution function (as a distributor, wholesaler or retailer) at different stages in a distribution channel.
What is product depth?
What is product depth? Product depth refers to the variation in products that a company offers within one product line.
How do you plan merchandise assortments?
Have a look at the following steps.Research and build a plan. ... Store clustering. ... Decide the breadth and depth of assortments. ... Create a visual merchandising plan. ... Double-check and execute the plan. ... Retain your loyal customers. ... Control inventory spending. ... Stand out from competitors.More items...•
How many types of assort are there?
a) Solid color solid size: One particular color & particular size in a carton box. b) Solid color assorts size: One specific color & different sizes in a carton box. a) Assort color solid size: Different color & same size in a carton box. b) Assort color assort size: Different color & different size in a carton box.
What advantage does the availability of assortments provide the consumers?
Consumers generally prefer larger assortments because it offers them the benefit of more choice and variety when making decisions to acquire products (Boyd & Bahn, 2009) .
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. ...
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.
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.
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 .
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.
Do retailers have to offer random products?
Successful retailers don’t offer a blend of random products to their customers. In order to balance their merchandise offerings with their business goals, while addressing challenges like limited shelf space, these retailers have to map out a comprehensive assortment strategy. To do so, they must understand the fundamentals of product assortment, which include product breadth and depth.
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).
Product Assortment Planning
Breadth & Depth Definition
- In its most basic definition, product breadth is the variety of product lines that a store offers. It is also known as product assortment width, merchandise breadth, and product line width.
Effect of Depth & Breadth on Buying
Product Assortment Examples
Depth vs. Breadth by Location
Product Assortment Strategy Considerations