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Product Mix Line Decisions
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INDEXPRODUCTDefinitionProduct LevelProduct Hierarchy
PRODUCT MIX DECISIONSDefinitionProctor & Gamble Product MixHindustan Lever Product MixTTTI Bhopal Product MixSteel Authority Of India Product Mix
PRODUCT-LINE DECISIONS:Product-line AnalysisSales and ProfitMarket ShareProduct-line LengthStretchingFillingLine ModernizationLine FeaturingLine Pruning
PRODUCTA Product is anything that can be offered to a market to satisfy a want or need. Products that are marketed includes physical goods, services, experiences, events, persons, places, properties, organizations, information, and ideas.
PRODUCT LEVELS
PRODUCT HIERARCHY Need Family
Product Family
Product Class
Product Line
Product Type
Item (also called Stock keeping unit or product variant)
Product Mix Decisions Product Mix A product mix (also called product assortment) is the set of all product and items that a particular seller offers for sale. Example: Wipros product mix consist of two strong product lines:FMCG productsSoftware Solutions
Product Mix Decisions
Product-Mix Width
SemisLong Flat TubularRailwayProductsProductsProductsBloomsBarsCR CoilsPipesRailsBilletsRodsGC SheetsWheelsSlabsRebarsTinplatesAxlesWire RodsElectrical SteelWheel SetsHR CoilsSheetsSkalp PlatesLINE
LENGHTSTEEL AUTHORITY OF INDIA LIMITED
PRODUCT-LINE ANALYSIS
BuildMaintainHarvestDivest
Sales And Profits
Market Profile
SALES AND PROFITS
A Company classifies its products into four types that yield different gross margins, depending on sales volume and promotion.
Core Product
Staples
Specialties
Convenience items
HINDUSTAN UNILEVER LTD.LaundryPersonal WashTeaToothpasteSkin CareHair CareCoffeeProcessed foods
MARKET PROFILEWEIGHTQUALITYGeneralprintingOfficeSuppliesPoint-ofPurchasedisplays
PRODUCT LINE LENGTH
Line Modernization:
Product lines need to be modernized. In rapidly changing products markets, modernization is carried on continuously. Companies plans improvements to encourage customer migration to higher valued, higher priced items. Example:- Bajaj Pulsar DTS-i
Line Featuring:
The product line manager typically selects one or a few items in the line to feature. Product line managers must periodically review the line for deadwood that is depressing profits. The weak items can be identified through sales and cost analysis.
Line Pruning:
Pruning is also done when the company is short of production capacity. Companies typically shorten their product lines in periods of tight demand and lengthen their lines in periods of slow demand.
BIBLIOGRAPHYText Books:Principles of Marketing: Philip Kotler, Gary ArmstrongMarketing Management: Philip Kotler
References:The Oxford Textbook of Marketing: Keith BloisMarketing Management- An Asian Perspective: Slew Meng Leong, Swee Hoon Ang, Chen Tiong TanFundamentals of Marketing: William J Stanton, Micheal J Etzel, Bruce J Warker
Journals and Magazines:Effective Executive- ICFAI Press- Emerging Markets, February 2008
Websites:http://www.hindustanstudies.com/files/product.pdfhttp://www.hll.com/investor/presentation/2007/Investor_Pres_JPMorgan.pdfwww.mktgpower.com/mg_dictionary.htmlwww.sail.co.in/product_mix.aspwww.en.wikipedia.org/wiki/product_line.htmlwww.enotes.com/business-fin-encyclopedia/productmix.html