Marketing Indicator 2.04Employ product-mix strategies to meet customer    expectations.
Identify ways in which        product lines can be        organized. Product Line – group of closely related products man...
Describe product mix    dimensions. Product Mix – All the types of products a company  makes or sells    Some companies ...
Identify reasons that abusiness would offer a narrowproduct mix. Product Width – number of different product lines CONTR...
Identify reasons that a   business would offer a broad   product mix. Product Width – number of different product lines ...
Identify reasons that a  business would offer a deep  product mix. Product Depth – number of items  offered within each p...
Identify reasons that abusiness would offer ashallow product mix. Product Depth – number of items offered within  each pr...
Explain the importance of a   business’s product mix. Businesses must plan their product mix  carefully because they cann...
Describe alteration product-mix strategies.Alteration of Existing Products:   Improve an established product    with new...
Describe trading up / downproduct-mix strategies. Trading up: Adding a higher-priced  product to a line to attract a high...
Describe positioning product-mix strategies. Positioning – actions marketers take to  create a certain image of a product...
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Marketing Obj. 2.04 ppt

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Marketing Obj. 2.04 ppt

  1. 1. Marketing Indicator 2.04Employ product-mix strategies to meet customer expectations.
  2. 2. Identify ways in which product lines can be organized. Product Line – group of closely related products manufactured by a business Product Item – specific model, brand, or size of a product within a line  Ex: P&G has over 250 products within 21 product lines  Dish care is a product line  Cascade, Dawn, Joy, & Ivory are items
  3. 3. Describe product mix dimensions. Product Mix – All the types of products a company makes or sells  Some companies have different brands for different markets  Coca-Cola has different drinks for sparkling beverages, water, juice, performance, coffee, tea, and international flavors.
  4. 4. Identify reasons that abusiness would offer a narrowproduct mix. Product Width – number of different product lines CONTRACTING  Ease on management  Cost effective  Simplicity  Consistency
  5. 5. Identify reasons that a business would offer a broad product mix. Product Width – number of different product lines EXPANDING  Reach all markets  Competitive advantage  Ex: Red Lobster specializes in seafood, but offers chicken and steak to broaden their product mix.
  6. 6. Identify reasons that a business would offer a deep product mix. Product Depth – number of items offered within each product line EXPANDING  Variety  Quantity Ex: Kohl’s carries various quantities of sizes, colors, & styles of Levi Jeans.
  7. 7. Identify reasons that abusiness would offer ashallow product mix. Product Depth – number of items offered within each product line CONTRACTING  Cost effective  Satisfy small markets  Ex: Only 2 chicken items on Red Lobster’s menu.
  8. 8. Explain the importance of a business’s product mix. Businesses must plan their product mix carefully because they cannot offer all the products that customers may want. They should be a profitable market for product offered by a company
  9. 9. Describe alteration product-mix strategies.Alteration of Existing Products: Improve an established product with new design, new package, new uses. Ex: Jeep offering 4 doors
  10. 10. Describe trading up / downproduct-mix strategies. Trading up: Adding a higher-priced product to a line to attract a higher- income market and improve the sales of existing lower-priced products. Trading down: Adding a lower-priced item to a line of prestige products to encourage purchases from people who cannot afford the higher-priced product, but want the status.
  11. 11. Describe positioning product-mix strategies. Positioning – actions marketers take to create a certain image of a product in the minds of the customers • In Relation to a Competitor • In Relation to a Product Class or Attribute • In Relation to a Target Market • By Price and Quality • Difficult to change

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