Product Mix And Line Decisions Pdf

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A product is an item produced or procured by the business to satisfy the needs of the customer.

Product Line Vs. Product Mix

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. 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.

Four important dimensions of a product mix can be identified. These are: width, length, depth, and consistency. The first of the product mix decisions refers to the product mix width.

The width is all about the number of different product lines the company carries. As mentioned in the previous example, Colgate has 3 product lines. Thus, it has a rather limited width. The product mix length refers to the total number of items a company carries within the product lines. For instance, Colgate carries several different brands within each line.

A car manufacturer may have several series in its car product line, such as 3-series, 5-series, and 7-series. The next one of the product mix decisions is the product mix depth. It refers to the number of versions offered for each product in the product line. For instance, Colgate toothpastes come in several tastes and variations. Finally, the consistency of a product mix completes our four product mix decisions. Consistency refers to how closely related the product lines are in terms of end use, production requirements, distribution channels or any other way.

The vehicle manufacturer also has a relatively consistent product mix, since both product lines contain consumer-vehicles, can be sold in the same way etc. We can identify four ways in which a company can increase its business on basis of the four product mix decisions determined above. To be precise, the product mix is one of the most critical instruments the company has. It is the centre of its offerings.

Therefore, the right product mix decisions should be taken, in line with customer needs. Since customer needs may change rapidly, product mix decisions need to be taken more than once at the beginning — product mix decisions are part of an ongoing process. Only if product mix decisions are taken on an ongoing basis, maximum value for customers can be created. Characteristics of Services: What is a Service — And what Product Mix decisions — Width, length, depth and consistency.

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What Is Product Mix? Explanation With Examples

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.

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 decisions – Width, length, depth and consistency

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.

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.

Product mix decisions

A product mix is also referred to as a product assortment. It is the full range of products offered by a firm.

What Is a Product Mix?

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. While a smartphone and wireless earphones Apple air-pod and Samsung buds are not the same, but the same type of customer uses them. Apple goes beyond by providing desktop computers and software; they provide mobile apps, cloud storage, and video streaming service to hook an iPhone buyer with Apple.

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 Line Decisions

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.

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