File Name: concept of product line and product mix .zip
Beyond decisions about individual products and services , the product strategy also requires product line decisions. That is, it calls for building a product line. But what is a product line, and how should it be set up?
The product includes both tangible and intangible items available for sale in the market. A company sells a variety of products at a time. For example, PepsiCo sells hundred of products under the product lines of beverages, food, and nutritional products. These product lines, when combines, are known as product mix. The company may have one or several product lines, and each product line may have several products.
When these product lines get together are known as the product mix of the company. The product mix is an essential element of the marketing mix because the other elements will work if there is a product or service to offer in the market. It is known as the central part of all marketing activities.
Width or breath of the product mix means the total number of product lines that a company offers to sell. For instance, if a company offers milk and yogurts, it indicates that it has two lines. Similarly, a cosmetic company manufactures four different types of products — jewelry, cosmetics, fashion, and household items. Its product mix width is 4. Depth of a product mix means the total number of variations for each product a company offers within. There may be different variations in the product e.
For example, Medicam sells four sizes, and two flavors of toothpaste mean that this line has a depth of eight. Another thing I want to discuss is the average depth of the product line. The length of the product mix means total number of products within the company product lines. Length of the product mix refers to the total number of products in the mix. If a company has 5 product lines and 10 products under each product lines, the length of the mix will be 50 [5 x 10].
Product mix consistency is the close relationship between different product lines. The more product variation means less product consistency. For example, a dairy company has two product lines milk and yogurt. Both lines have the same users and distribution channels. Due to low product variation and high product mix consistency. Take another example of Philips Electronics with 7 product lines having high production mix variation and low consistency.
Let us take a small example to understand the product mix of Nike. Product mix refers to the total number of products of a company offer to sell. On the other hand, product line refers to related products with similar users and functions. In the above example of Nike, the footwear, apparels, and equipment are all product lines. When these product lines come together known as product mix. Table of Contents. Prev Article. Next Article. Related Articles. Marketing mix is made up of four Ps.
The marketing mix is an important and well-known marketing concept.
A successful product mix strategy enables a company to focus efforts and resources on the products and product lines within its offerings that have the greatest potential for growth, market share, and revenue. A product line refers to a product category or brand marketed by a company. Products within a product line all perform a similar function, offer similar benefits, target similar customers, are similarly priced, and follow similar distribution channels. Important product line attributes include line stretching, line filling, line modernization, and line featuring. A product mix is the total number of product lines and individual products or services offered by a company. Additionally referred to as product assortment or product portfolio.
The product includes both tangible and intangible items available for sale in the market. A company sells a variety of products at a time. For example, PepsiCo sells hundred of products under the product lines of beverages, food, and nutritional products. These product lines, when combines, are known as product mix.
Marketers must often make product adjustments in order to keep the product competitive and continue to provide satisfaction to the buyer. Discuss strategies for adjusting products in response to changes in consumer taste and the marketplace.
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What is the marketing mix and the 4ps of marketing model? What entices consumers to engage with your business and buy your product or service? It may sound easy, but effective marketing takes a considerable amount of research and planning.
Product mix, also known as product assortment, refers to the total number of product lines a company offers to its customers. For example, your company may sell multiple lines of products. Your product lines may be fairly similar, such as dish washing liquid and bar soap, which are both used for cleaning and use similar technologies.
Простая синтаксическая ошибка - если бы, например, программист по ошибке ввел вместо точки запятую - могла обрушить всю систему. Происхождение термина вирус всегда казалось Сьюзан весьма забавным.
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