File Name: product mix and product line decisions .zip
In each product group, a number of varieties are offered.
After having taken a look at the product line decisions , product mix decisions need to be discussed. Product mix decisions arise as soon as an organization has several product lines. But what is a product mix, and what product mix decisions are to be taken? Before turning to the product mix decisions, we first have to know what the product mix actually is.
Simply, it shows the number of items in the product line. Product mix consistency refers to the closeness of different product lines basis end use, production, promotion, distribution, etc. The introduction of ballpoint pens could influence the perception the consumer has of the company as a whole. Although product mix problems are seldom encountered in their simple textbook form in practice, they very frequently constitute important. A diagrammatic explanation of the product mix by taking microsoft.
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. As more brands enter the marketplace, winning and holding buyers becomes more difficult. This is a result of:. Because of factors such as these, a decision is made either to identify ways of adjusting the product in order to further distinguish it from others, or to design a strategy that will eliminate the product and make way for new products.
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. Or your product lines may be vastly different, such as diapers and razors. The four dimensions to a company's product mix include width, length, depth and consistency.
A product mix is also referred to as a product assortment. It is the full range of products offered by a firm. As discussed in another article on this website, firms will have sets of products in what is known as a product line.
Product Line Decisions means a company offers similar products to solve a whole range of similar problems that target customers have. To understand Product Line Decisions simply, we can look at a smartphone manufacturer, like Samsung and Apple. They are known to customers as smartphone makers, but they are more than that. Both Samsung and Apple provide chargers, wired earphones, wireless earphones, smartwatch, and more. This is where the concept of product line comes in.
Question - What is product mix? Explain product mix decisions. Meaning of Product Mix. Product mix or product assortment refers to the number of product lines that an organisation offers to its customers. Product line is a group of related products manufactured or marketed by a single company. Such products function in similar manner, sold to the same customer group, sold through the same type of outlets, and fall within a same price range.
Products that are marketed includes physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. Product Mix A product mix also called product assortment is the set of all product and items that a particular seller offers for sale. Width Width -- number number of of different different product product lines lines Consistency. Length Length -- total total Product Product MixMix -- number number of of items items all all the the product product within within the the lines lines lines lines offered offered. Laundry 2. Personal Wash 3.
Types of Product Line Decisions – Product Line Strategies. One of the key jobs of the marketing manager is to select a mix of compatible products for the firm that.
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designing a firm's marketing mix”. • Products can be tangible or intangible (services, ideas, events, persons Product line decisions;. 3. Product mix decisions.Jackie L. 19.12.2020 at 22:42
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PDF | ABSTRACT Despite the importance of product line addressing the determinants of firm product line decisions is sparse. profitability of assortment, see Connor ; Shugan ; Lancaster and especially the.Melusina C. 25.12.2020 at 12:51
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A vehicle manufacturer may have two product lines: motorbikes and cars. Product mix decisions need to be taken for the whole product mix and affect each line.