The complete set of all products and product lines offered by a firm is called its product assortment, or product .

The complete set of all products and product lines offered by a firm is called its product assortment, or product mix.

The product mix includes all the different kinds of products a business sells, which can be classified into several categories:

1. Product Lines: These are groups of related products that serve a similar purpose. For example, a bakery might have different lines for bread, pastries, and cakes.

2. Product Width: This refers to the number of different product lines that a company offers. For instance, if a company sells both electronics and home appliances, it has a wider product assortment.

3. Product Depth: This represents the variety of products within each line. For example, in the electronics line, there could be various types of televisions, smartphones, and laptops.

4. Product MixConsistency: This describes how closely related the various product lines are. A high consistency means that the products are very similar, while low inconsistency indicates a diverse range of products.

Understanding a firm's product mix is crucial for marketing strategies, inventory management, and meeting customer demands effectively.