P R O D U C T LINE M I X
PRODUCT anything that can be offered to a market to satisfy a want or need. It may be physical goods, services, experiences, events, persons, places, properties, organizations, information and ideas. Product like. Computer, mobile, motor-car, software etc.
PRODUCT LEVELS: THE CONSUMER VALUE HIERARCHY
Core benefit Basic product Expected product (attributes &conditions) Augmented product Potential product
PRODUCT CLASSIFICATIONProduct classification on the basis of characteristics. 1.Durability and tangibility. Nondurable goods. Durable goods. Services. 2.Consumer goods classification. Convenience goods. Shopping goods. Specialty goods. Unsought goods. 3.Industrial goods classification. Materials and parts. Capital items (installations & equipment). Supplies (paint, coal, lubricant) and business services (maintenance and repair items).
PRODUCT V/S BRAND PRODUCT is anything that can be offered to the market that may satisfy the need, want, and demand of a certain individual or market. Product is more than just a material object. It is also an inclusive package of benefits or satisfactions that the consumer or buyer may achieve upon purchase or usage. A product is the total amount of all physical, psychological, symbolic, and service attributes. Several examples of products are the following: hamburger, fries, and soft drink. BRAND is a symbolic manifestation of all the information connected with a company, product, or service. A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons. brand puts an impression to the consumer on what to expect to the product or service being offered. In other application, brand may be referred as a trademark, which is legally an appropriate term. 'brand' is a symbol of a product (CocaCola), service (airtel bharti), company (dell) or even an individual (Michael Jackson) to identify what it is.
PRODUCT MIX it also called a product assortment. the set of all products and items a particular seller offers for sale. It consists of various product lines. For example:- product mix of Nirma ltd.consists of fabric-care products, personal care products, food products, and scouring products. Product mix has certain width, length, and consistency.
PRODUCT WIDTH, LENGTH, DEPTH, CONSISTENCY Width- how many different product lines the company carries(11). Length- the total number of items in the mix(25). Depth- how many variants are offered in the line (lux> jojoba, almond, honey in milk cream, sandal saffron)(1-4). Consistency- how closely related the various product lines are in the end use ,production requirements, distribution channels, or some other way (hp computer & printer).
PRODUCT MIX WIDTH AND PRODUCT LINE LENGTH FOR HUL LTDProduct mix widthHome and personal careP R O D U C T L I N E L E N G T Hpersonal wash Lux lifebouy laundry surf excel rin skin care fair & lovely ponds hair care sunsilk naturals clinic plus oral care pepsodent close up deodorants axe rexona colour cosmetic tea lakme brook bond lipton Bru kissan knorr anapurna kwality walls
foodsCoffee foods ice creams
PRODUCT MIX OF ITC
PRODUCT MIX FOR CONSTRUCTION COMPANY
PRODUCT MIX FOR ELECTRONIC COMPANY WITH THE SALES
PRODUCT MIX FOR WED
PRODUCT MIX CONTINUE..
PRODUCT MIX IN MALL FOR CHILDREN
PRODUCT MIX IN OUR MOBILE
PRODUCT MIX DECISION Decision to Change the product mix. Product mix is a combination of products manufactured or traded by the same business house to reinforce their presence in the market, increase market share and increase the turnover for more profitability. One of the realities of business is that most firms deal with multi-products .This helps a firm diffuse its risk across different product groups Also it enables the firm to appeal to a much larger group of customers or to different needs of the same customer group. Like.. Videocon, ITC, rahejas.
PRODUCT LINE Develop a basic platform and modules that can be added to meet different customer requirement. A group of closely related products with similar attributes to the target markets. For example:- car manufacturers build their cars around a basic platform, home builders show a model home to which buyer can add additional features, series of nokia mobiles. Product line managers need to know the sales and profits of each item in their line in order to determine which items to build, maintain, harvest, or divest.
* PRODUCT-LINE ANALYSIS
percentage contribute to sales and profit
On the basis of sales and profits. Core product (high sales-high promoted). Staples (low sales-no promotion). Specialties (low sales volume-high promoted ). Convenience items (high sales- less promotion ). Market profile (positioned competitor's line ) again
60 50 40 30 20 10 0 1 2 3 4 5 p ro d u ct ite m s ale s pro fits
Product-item contributions to a product line's total sales and profit
PRODUCT LINE LENGTH 1. company objectives influence product-line length. Induce up selling. ( for example.. Maruti 800 to alto and Zen, nokia). Cross selling. ( hp = printer > printing papers > computers, everyday torch > power). Protects again economic up down. ( Hindustan unilever ltd., Raymond, tata ) High market share and growth. ( reliance ltd., Colgate> shorter lines > high profit)