In a nutshell, product mix – also called product assortment – is the total number and variety of product lines that your company offers to its target audience and customers.
Say that you run a business that creates athletic leisure wear for physically active men and women. Your business might make a variety of products, such as:
Workout pants
Running socks
Exercise shirts and tank tops
Yoga mats
Gym bags
Etc.
The product mix refers to the set of different product lines or product types you produce. The market mix includes the products your company offers through major distribution channels. Or products you offer through subsidiary brands or companies.