Final answer:
In business, the term 'depth' specifically refers to the number of versions of each product offered in a product line. It differs from 'length', which pertains to the number of products in a line, and from 'width', which pertains to the variety of different product lines offered by a company.
Step-by-step explanation:
In the context of product mix, the correct term that refers to the number of versions offered for each product in the line is depth. The depth of a product line can influence how consumers perceive the brand and can target different consumer segments. For example, a shampoo product line may have different versions for dry hair, oily hair, color-treated hair, etc., which showcases the depth of that product line. The other terms mentioned such as length, height, and width, all refer to different aspects of measurement. Length, for instance, is a measure of one dimension of an object, and in a business context, it might refer to the number of products in the product line. The width, or breadth, refers to the variety of different product lines a company offers.