- Let us discuss each type of product mix pricing in detail
- 1) Product line pricing
- 2) Optional feature pricing
- 3) Captive product pricing
- 4) Two part pricing
- 5) By Product pricing
What is an example of a product mix
For example, The Coca-Cola Company has its Signature coca-cola brand, featuring original Coca-Cola, Diet Coke, Coke Zero, Cherry Coke, etc. This would be described as a product line, while their product mix consists of their Coca-Cola, Dr. Pepper, Glaceau Smartwater, Sprite (and so on) product lines.
What are the characteristics of product mix?
- Width
- Length
- Depth
- Consistency
- Age
- Financial Position
- Area of Operation
- Brand Identity
What are the 4 components of product mix?
- Width: the total number of product lines in a business
- Length: the total number of products in the mix
- Depth: number of variants of a product line
- Consistency: the degree each product relates to the other in a product mix
Which of these is not a part of product mix
List price is not a part of product in marketing mix; it is the part of price mix.
What are key factors of product mix?
- Profitability: Every business unit tries to maximize its profits
- Objectives and Policy of Company: Company frames its product mix to achieve its objective
- Production Capacity:
- Demand:
- Production Costs:
- Government Rules and Restriction:
- Demand Fluctuation:
- Competition:
What are the three components of the product mix?
- Branding
- Packaging
- Labeling
What are the 5 product mix strategies?
- Product line pricing – the products in the product line
- Optional product pricing – optional or accessory products
- Captive product pricing – complementary products
- By-product pricing – by-products
- Product bundle pricing – several products
What are the 4 product mix strategies?
- #1 Width
- #2 Length
- #3 Depth
- #4 Consistency
How do you determine the product mix
Number of actual units sold. Actual sales mix percentage: the number of actual units sold of a product divided by total units sold of all products.
Budgeted sales mix percentage: the number of budgeted units sold of a product divided by budgeted total units sold of all products.
What are the 4 types of product?
- Convenience goods
- Shopping goods
- Specialty goods
- Unsought goods
What is product mix and product line example
A product mix is a group of everything a company sells. However, the product line is a subset of the product mix.
A product line refers to a unique product category or product brand a company offers.
For example, Patanjali deals in different categories of products which include shampoo, flour, toothpaste, etc.
What is the most important element of product mix
Although the product is the most important part of the marketing function, it needs other elements intertwined in order to succeed, such as promotion, place, and price.
What are the elements of marketing mix?
- Product (or Service) Your customer only cares about one thing: what your product or service can do for them
- Price
- Promotion
- Place
- People
- Packaging
- Process
What is product mix class 12
“Product mix” means the total number of products and items that a particular marketer offers to the market.
MAJOR COMPONENTS OF PRODUCT MIX ARE. Branding. Packaging. Labeling.
What is product mix analysis
Product mix analyses evaluate different go-to-market strategies to identify the optimal product mix at the customer, regional, or national levels, often extending the scenarios to new product introduction and SKU sun-setting decisions.
Is one element of product mix
The product mix includes four common elements: Length, breadth, depth and consistency.
What is product/service mix
Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm.
A product mix consists of product lines, which are associated items that consumers tend to use together or think of as similar products or services.
What’s the difference between product line and product mix
All the products a given company produces comprise the product mix, or product assortment.
A product line would be a group of these products associated by function, by consumer group, by distribution channel or by price range.
How many elements are there in a product mix
The product mix incorporates four normal components: Length, depth, breadth, and consistency.
What is a marketing mix example
Marketing Mix Examples of Companies Dollar Tree leverages price as a factor by pricing everything in the store at $1 or lower.
This sends a strong signal to their target consumer that they’ll save money by shopping at their stores.
Another example of marketing mix is Tiffany & Co.
What is the product mix of apple
Apple marketing mix (Apple’s 7Ps of marketing) comprises elements of the marketing mix that consists of product, place, price, promotion, process, people and physical evidence.
What is product mix decision
Product mix decision refers to the decisions regarding adding a new or eliminating any existing product from the product mix, adding a new product line, lengthening any existing line, or bringing new variants of a brand to expand the business and to increase the profitability.
What are the dimensions of product mix
Product mix, also known as product assortment, refers to the total number of product lines a company offers to its customers.
The four dimensions to a company’s product mix include width, length, depth and consistency.
What is not included in marketing mix
Solution. Marketing mix does not include People.
What is a product and its types
Products are broadly classified into two categories – consumer products and industrial products. Consumer products are products that the ultimate consumer purchases himself for direct use.
The consumer purchases these consumer products to satisfy his personal needs and desires.
Why is product mix important
Importance Of Product Mix Product mix helps determine in which direction your company is heading, and the data accumulated by it helps you determine where you want to lead the company.
It also helps you to be consistent with your targeted customers.
What are the 4 types of promotion mix
There are four elements that make up the promotional mix. They are sales promotion, public relations, personal selling, and advertising.
What is included in product mix pricing?
- Captive product pricing – complementary products
- Product line pricing – the products in the product line
- Product bundle pricing – several products
- Optional product pricing – optional or accessory products
- By-product pricing – by-products
What is brand in product mix
A brand is the identification of a product.
What is assortment mix
Product assortment, sometimes referred to as merchandise mix, refers to the variety of products that a retailer stocks and sells.
It’s made up of two key components: 1. Product breadth, which is the variety of product lines in a store.
Product breadth is all about how wide and diverse an assortment is.
Sources
https://docs.google.com/document/preview?hgd=1&id=1uE8IKOGlvGc75NE99ZvezgMoCamzlfbpZsOn6SII8wI
https://www.googlesir.com/features-and-importance-of-product/
https://www.geeksforgeeks.org/what-is-product-mix/
https://economictimes.indiatimes.com/definition/product
https://study.com/academy/lesson/what-is-a-marketing-concept-definition-examples.html
