Product Mix And Line Decisions Pdf

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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.

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.

Product Line Vs. 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. 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. The width, or breadth, of a company's product mix pertains to the number of product lines the company sells. For example, if you own EZ Tool Company and have two product lines — hammers and wrenches — your product mix width is two.

In each product group, a number of varieties are offered. The set of all these products main range and product varieties in each range can be said as product mix. It refers to the total number of items in all the product lines in product mix. For example product mix of Bajaj Company has more than items in various product lines, such as fans, bulbs and tubes, heaters, motorbikes, shooters, rich-show, processing machines, and many other ranges. It indicates the total number of product lines a company carries. For example, two wheelers including various models constitutes one of the product lines of Bajaj Company. It refers to a number of varieties in forms of sizes, colors, and models offered within each product line.

What Is a Product Mix?

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. Large firms would generally offer several product lines to the marketplace — such as Coca-Cola with soft drinks, juices, water, sport drinks, and so on. Under each product line they offer a variety of different products. Therefore, all the products offered under all the products lines by the firm is their overall product mix. The range of products offered by a firm is a critical strategic decision that will determine how the firm and their brands compete in the marketplace and the overall positioning of the brand.

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. The product mix, also called product portfolio, is the set of all product lines and items that a company offers for sale. For instance, the product mix of Colgate consists of three product lines: oral care, personal care and pet nutrition. Each of these product lines, in turn, consists of several sub-lines.

If you're in the business of selling — and most companies are, in one way or another — it's important to have the products your customers want, and to have enough of them. For managers, that comes down to making decisions about which product lines to carry, and how to put them together to make a winning product mix. It's like building a successful sports team: You need the right players, but they also have to work well together. A product line is a group of products that are closely related and are promoted together. For example, when a company creates a group of products that deal with hygiene, such as shaving cream, soap and shampoo, this is known as a product line. The line of products typically shares the same logo, brand and color scheme. This way, customers can easily identify other products within the same group.

Product Mix&Line Decisions

A product is an item produced or procured by the business to satisfy the needs of the customer. It is the actual item which is held for sale in the market. A company usually sells different types of products. These different product brands are also known as product lines. A combination of all these product lines constitutes the product mix.

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What Is Product Mix? Explanation With Examples

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making the right product mix decisions based on product mix or increasing the product line to increase benbakerbooks.org


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Product Mix decisions – Width, length, depth and consistency
1 Response
  1. Ramses N.

    designing a firm's marketing mix”. • Products can be tangible or intangible (​services, ideas, events, persons Product line decisions;. 3. Product mix decisions.

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