IB Business Management Higher Level (HL) Practice Test

Product mix is the set of all products and services a company offers. It includes every product line and all the individual items within them, giving a complete view of what the business sells. This makes it the best term for describing “all the products that an organization sells.” Managers analyze the mix in terms of width (how many different lines), depth (the number of variants within each line), and consistency (how closely related the lines are), which helps in planning, pricing, and resource allocation. Product range can refer to the breadth of offerings, sometimes within a single line, and may be less precise about the whole catalog. Product portfolio usually implies a strategic collection of products and brands used for management and investment decisions, rather than simply listing all the products. A position map is a perceptual diagram used to compare how products are viewed by consumers on certain attributes, not a term for the full catalog.