Product and its selection strategies
✔Features of a product
✔Classification of a product
✔Levels of a product
✔Product Mix
✔Dimensions of Product Mix
✔Strategies of product Mix
✔Product Life Cycle
✔Reasons for Product Failure
This document discusses the 7 P's of marketing, which are the key elements of a company's marketing mix strategy. The 7 P's include: Product, Price, Place, Promotion, People, Process, and Physical Evidence. For each P, the document describes what it refers to and provides examples. It explains that the marketing mix involves choosing the optimal combination of the 7 P's to satisfy customers. The document concludes that the 7 P's are interdependent and together constitute a company's overall marketing strategy. Regularly reviewing and adjusting the marketing mix allows companies to maintain a competitive edge.
The Marketing plays a vital role in promoting the business and mission of an organization. It serves as the face of your company, coordinating and producing all materials representing the business. It is the Marketing job to reach out to prospects, customers, investors and/or the community, while creating an overarching image that represents your company in a positive light.
There are 7 function of fashion marketing.
The document discusses the evolution and components of the marketing mix concept. It begins by outlining the production, sell, and marketing eras from 1900 to present. It then examines various classifications of the marketing mix elements, ultimately focusing on McCarthy's 4 P's of product, price, place, and promotion. For each P, key variables are defined. The document emphasizes that the marketing mix elements influence each other and must be carefully managed using market research, strategy, and short-term planning to achieve business success.
Marketing research involves assessing customer needs and transmitting that information to design marketing activities. This includes understanding customer demographics and preferences. Product design and development plays an important role by making products attractive to sell more. Standardization and grading help ensure consistency in product size, quality and materials. Packaging protects products during transport and storage and allows for different quantities. Branding gives a product a distinct identity from competitors. Pricing considers factors like demand, costs and competitors. Customer support services help retain customers through after-sales support and complaint handling. Buying ensures necessary resources are obtained. Promotion grows awareness through advertising, selling, sales promotions and publicity. Physical distribution decisions cover transportation, inventory, warehousing and order processing to get products to
The document discusses the objectives and functions of marketing. The key objectives are customer satisfaction, ensuring profitability, building goodwill, creating demand, and increasing sales volume. The functions include market research, planning, product development, packaging, branding, pricing, promotion, distribution, transportation, and customer support. Marketing aims to satisfy customer needs while maximizing profits through these various objectives and functions.
The document discusses the 5 Ps of marketing - product, price, promotion, place, and people. It explains that considering these key marketing elements can help strategically position a business and its products and services in the market. Each of the 5 Ps is then defined in more detail, with examples of how a restaurant could apply them to target families as their customer market.
A marketing mix presentation carried out by Wize Foods Company giving a brief description of what the marketing mix entails.
This will be of help to students, business organisations and researchers
This document discusses the 7 P's of marketing, which are the key elements of a company's marketing mix strategy. The 7 P's include: Product, Price, Place, Promotion, People, Process, and Physical Evidence. For each P, the document describes what it refers to and provides examples. It explains that the marketing mix involves choosing the optimal combination of the 7 P's to satisfy customers. The document concludes that the 7 P's are interdependent and together constitute a company's overall marketing strategy. Regularly reviewing and adjusting the marketing mix allows companies to maintain a competitive edge.
The Marketing plays a vital role in promoting the business and mission of an organization. It serves as the face of your company, coordinating and producing all materials representing the business. It is the Marketing job to reach out to prospects, customers, investors and/or the community, while creating an overarching image that represents your company in a positive light.
There are 7 function of fashion marketing.
The document discusses the evolution and components of the marketing mix concept. It begins by outlining the production, sell, and marketing eras from 1900 to present. It then examines various classifications of the marketing mix elements, ultimately focusing on McCarthy's 4 P's of product, price, place, and promotion. For each P, key variables are defined. The document emphasizes that the marketing mix elements influence each other and must be carefully managed using market research, strategy, and short-term planning to achieve business success.
Marketing research involves assessing customer needs and transmitting that information to design marketing activities. This includes understanding customer demographics and preferences. Product design and development plays an important role by making products attractive to sell more. Standardization and grading help ensure consistency in product size, quality and materials. Packaging protects products during transport and storage and allows for different quantities. Branding gives a product a distinct identity from competitors. Pricing considers factors like demand, costs and competitors. Customer support services help retain customers through after-sales support and complaint handling. Buying ensures necessary resources are obtained. Promotion grows awareness through advertising, selling, sales promotions and publicity. Physical distribution decisions cover transportation, inventory, warehousing and order processing to get products to
The document discusses the objectives and functions of marketing. The key objectives are customer satisfaction, ensuring profitability, building goodwill, creating demand, and increasing sales volume. The functions include market research, planning, product development, packaging, branding, pricing, promotion, distribution, transportation, and customer support. Marketing aims to satisfy customer needs while maximizing profits through these various objectives and functions.
The document discusses the 5 Ps of marketing - product, price, promotion, place, and people. It explains that considering these key marketing elements can help strategically position a business and its products and services in the market. Each of the 5 Ps is then defined in more detail, with examples of how a restaurant could apply them to target families as their customer market.
A marketing mix presentation carried out by Wize Foods Company giving a brief description of what the marketing mix entails.
This will be of help to students, business organisations and researchers
The document discusses the 7P's of marketing mix, which are product, price, place, promotion, process, physical appearance, and people. It uses Coca-Cola as an example to explain each P. Coca-Cola bottles come in various sizes and volumes with different shapes, labels, and physical characteristics to appeal to customers. The marketing mix variables must be blended according to the marketing objectives, target market, and other factors to effectively market products and services.
This document discusses fashion marketing basics. It defines marketing as developing, promoting, and distributing products to satisfy customer needs. The marketing concept is about satisfying customer needs to make a profit. There are seven key marketing functions: information management, financing, product/service management, pricing, promotion, distribution, and selling. Promotion communicates with customers and includes advertising, personal selling, publicity, and public relations. The marketing mix consists of the four P's: product, place, price, and promotion. Fashion marketers use strategies to increase customers, average transactions, and repurchase frequency.
The document provides information on marketing plans, marketing planning, and developing a marketing plan. It discusses that a marketing plan outlines a company's marketing strategy, tactics, goals, and action steps. Marketing planning is a systematic process to formulate strategies to achieve objectives. A good marketing plan provides a plan of action to accomplish the mission using existing resources and establishes responsibilities, procedures, and coordination over the plan's timeframe.
This document appears to be a marketing assignment for a company called Mallika jewellers. It includes sections on the company profile, marketing research, marketing strategy, and marketing mix (the 4 Ps). Some key points:
- Mallika jewellers is a large goldsmith company and market leader in Saudi Arabia known for quality designs.
- The document outlines the company's market research process and how it segments the market by factors like demographics, psychographics, and consumer behavior.
- The marketing strategy discusses analyzing the market, customers, competitors and internal environment. Tactics include special offers, celebrity endorsements, and variety of designs.
- The 4 Ps of marketing mix - product, price, place
Total quality marketing emphasizes that all marketing activities performed by a firm, such as marketing research, sales training, advertising, and customer service, should meet the highest possible standards of quality. It also emphasizes that a firm's policies and overall practices should be committed to continuous quality improvement. Marketers have three major roles in total quality marketing: correctly identifying customer needs, ensuring on-time order fulfillment with proper support, and gathering customer feedback. Principles of total quality marketing include making quality the top priority, reflecting quality in all firm activities, gaining full employee commitment to quality, partnering with high-quality suppliers, and continuously improving quality.
The document discusses the 7Ps of marketing - Product, Price, Place, Promotion, Process, People, and Physical Evidence. It provides descriptions and examples for each P. Product refers to the design, technology, quality, and packaging of an item. Price considers factors like value, costs, and pricing strategies. Place is about distribution channels like retail, wholesale, and online. Promotion involves advertising, sales promotions, and social media. Process covers service delivery and consistency. People refers to employees, management, and company culture. Physical evidence includes facilities, infrastructure, and tangible aspects of services.
Four Levels of fashion business or industryKirti Ghosh
The fashion industry is divided into 4 levels - primary, secondary, retail, and auxiliary. The primary level involves raw material production. The secondary level is apparel manufacturing. Retail involves distribution of products to stores like department stores and boutiques. The auxiliary level provides support services to all levels, including fashion media, organizations, and consultants.
Anyone interested in the basics of marketing could access this presentation which talks about the 7Ps, & the product, place, price & promotion at length
In increasingly competitive markets, consumers have a greater choice over where they buy their goods and services. For an organization to meet its business objectives, it has to find out what consumers require and then identify the best way in which it can satisfy these needs and wants. Creating a competitive advantage can be difficult. A unique marketing strategy with clear objectives is vital to ensure effective promotional activity.
The document discusses the marketing mix, also known as the 7Ps of marketing. It begins by defining the marketing mix as the combination of marketing tools used by a company to satisfy customers and achieve organizational goals. It then provides a brief history of the marketing mix concept and discusses the original 4Ps framework developed by McCarthy as well as subsequent expansions to the 7Ps. The remainder of the document defines each of the 7Ps - product, price, place, promotion, people, processes, and physical evidence - and provides examples of factors to consider for each element of the marketing mix. In conclusion, it emphasizes that all elements of the 7Ps framework must be aimed at catering to the target customer needs and wants in order to develop
Marketing Management - What is Marketing ?FaHaD .H. NooR
Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation.Other services and management activities such as Operations (or Production), Human Resources, Accounting, Law and Legal aspects can be "bought in" or "contracted out".
The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:
(1) identification, selection and development of a product,
(2) determination of its price,
(3) selection of a distribution channel to reach the customer's place, and
(4) development and implementation of a promotional strategy.
For example, new Apple products are developed to include improved applications and systems, are set at different prices depending on how much capability the customer desires, and are sold in places where other Apple products are sold.
what is marketing mix, 4 p's of marketing mix, product mix, place mix, price mix, promotion mix,distribution channels, marketing 7p's , 4 c's of marketing, application of marketing mix and example of amazon's marketing mix.
This document discusses key marketing concepts and strategies. It defines marketing and outlines the marketing process as identifying customer needs and developing products and services to meet those needs. The marketing concept of fulfilling existing customer needs while also satisfying new needs is explained. The roles and responsibilities of marketing managers are presented, including market research, developing marketing strategies and plans, managing the marketing mix, and measuring success. Current and future marketing trends involving social media, mobile, and location-based marketing are also summarized.
IE Business School_Essay 3_ FMCG Consulting_Neha Gujralnehaagujral
Neha Gujral wants to explore the fast moving consumer goods (FMCG) sector from a consulting perspective. She believes her leadership and interpersonal skills will allow her to quickly connect with clients and present recommendations to address issues in the sector. The FMCG sector faces challenges in understanding consumer demands, responding to environmental changes, managing inflationary pressures, and surviving competition. Neha discusses how her education at IE Business School will further develop her skills in areas like leadership, teamwork, negotiation, and understanding global markets to advise clients in addressing these challenges.
Roles & Responsibilities of Merchandiser in an Fashion industry Anil Kumar
Merchandiser is the interface between Buyer & Exporter. He is the responsible from order analysis to shipment. So Merchandising is the very valuable in the Apparel Industry. The merchandiser is the person whose responsibility is to execute the orders perfectly as per the costing and pricing. He contact and communicate with the buyer till the final Shipment. He is the backbone of any industries.
This document discusses market segmentation and target marketing. It defines market segmentation as dividing a market into subgroups with distinct needs and characteristics that may require separate products or marketing mixes. The document outlines different levels of market segmentation from mass marketing to niche and individual marketing. It also discusses various bases for segmenting consumer markets, including geographic, demographic, psychographic, and behavioral factors. Finally, it covers strategies for evaluating and selecting target markets, such as undifferentiated, concentrated, and differentiated approaches.
This presentation summarizes the marketing plan for Pran Juice. Pran Group is a leading business in Bangladesh that was established in 1980 and has diversified into many areas. Pran Juice comes in glass bottles, aseptic packs, and cans in flavors like mango, guava, and orange. It will be distributed through existing distributors and some new channels. The marketing mix involves unique product qualities, cost-based pricing, widespread distribution targeting students and children, and advertising through television, radio, newspapers and events. Sales are forecast to grow 35-55% annually in different channels. Customer satisfaction and feedback will be used to control the marketing plan. The conclusion is that Pran Juice has potential for success as
Marketing mix is one of the major concepts in modern marketing. It is the combination of various elements which constitutes the company’s marketing system. It is set of controllable marketing variables that the firm blends to produce the response it wants in the target market. Though there are many basic marketing variables.
1. The document discusses various aspects of storage, transportation, processing, packaging, branding, grading, quality control and labeling of agricultural products.
2. It describes traditional and improved methods of storage for small and large scales.
3. Transportation widens markets and facilitates specialized farming while its costs depend on distance, product characteristics and road conditions.
4. Processing converts raw materials into usable forms, satisfies consumers, and generates employment.
advertisement, salesmanship and personal sellingDinesh Dhoni
This document defines advertising and discusses its objectives and advantages and disadvantages. It outlines different advertising techniques and media used, including direct advertising, indoor advertising, outdoor advertising, point of purchase advertising, and specialty advertising. It then defines personal selling and salesmanship, noting that sales are important for business profits. Personal selling involves creating demand and promoting sales through face-to-face interactions with prospective buyers. The document also discusses the significance of personal selling, types of salesmen, methods of remunerating salesmen, and the role of medical representatives in the pharmaceutical industry. It notes that medical representatives receive general, specialized, and continuous training.
The document discusses product mix strategies and key product-related concepts. It begins with defining the product, product line, and product mix. It then covers product classification, the five levels of a product, and factors influencing the product mix. The rest of the document discusses important product decisions around innovation, standardization, elimination, and diversification. It provides examples and reasons for each. Finally, it touches on branding, packaging, and labeling. The overall document provides a comprehensive overview of product mix strategies and critical product-related terms.
Once marketers understood on the integrated marketing communication system,the next step is to know about consumers and their behaviour. The chapter emphasizes the important of Understanding the Consumer Behaviour.
The document discusses the 7P's of marketing mix, which are product, price, place, promotion, process, physical appearance, and people. It uses Coca-Cola as an example to explain each P. Coca-Cola bottles come in various sizes and volumes with different shapes, labels, and physical characteristics to appeal to customers. The marketing mix variables must be blended according to the marketing objectives, target market, and other factors to effectively market products and services.
This document discusses fashion marketing basics. It defines marketing as developing, promoting, and distributing products to satisfy customer needs. The marketing concept is about satisfying customer needs to make a profit. There are seven key marketing functions: information management, financing, product/service management, pricing, promotion, distribution, and selling. Promotion communicates with customers and includes advertising, personal selling, publicity, and public relations. The marketing mix consists of the four P's: product, place, price, and promotion. Fashion marketers use strategies to increase customers, average transactions, and repurchase frequency.
The document provides information on marketing plans, marketing planning, and developing a marketing plan. It discusses that a marketing plan outlines a company's marketing strategy, tactics, goals, and action steps. Marketing planning is a systematic process to formulate strategies to achieve objectives. A good marketing plan provides a plan of action to accomplish the mission using existing resources and establishes responsibilities, procedures, and coordination over the plan's timeframe.
This document appears to be a marketing assignment for a company called Mallika jewellers. It includes sections on the company profile, marketing research, marketing strategy, and marketing mix (the 4 Ps). Some key points:
- Mallika jewellers is a large goldsmith company and market leader in Saudi Arabia known for quality designs.
- The document outlines the company's market research process and how it segments the market by factors like demographics, psychographics, and consumer behavior.
- The marketing strategy discusses analyzing the market, customers, competitors and internal environment. Tactics include special offers, celebrity endorsements, and variety of designs.
- The 4 Ps of marketing mix - product, price, place
Total quality marketing emphasizes that all marketing activities performed by a firm, such as marketing research, sales training, advertising, and customer service, should meet the highest possible standards of quality. It also emphasizes that a firm's policies and overall practices should be committed to continuous quality improvement. Marketers have three major roles in total quality marketing: correctly identifying customer needs, ensuring on-time order fulfillment with proper support, and gathering customer feedback. Principles of total quality marketing include making quality the top priority, reflecting quality in all firm activities, gaining full employee commitment to quality, partnering with high-quality suppliers, and continuously improving quality.
The document discusses the 7Ps of marketing - Product, Price, Place, Promotion, Process, People, and Physical Evidence. It provides descriptions and examples for each P. Product refers to the design, technology, quality, and packaging of an item. Price considers factors like value, costs, and pricing strategies. Place is about distribution channels like retail, wholesale, and online. Promotion involves advertising, sales promotions, and social media. Process covers service delivery and consistency. People refers to employees, management, and company culture. Physical evidence includes facilities, infrastructure, and tangible aspects of services.
Four Levels of fashion business or industryKirti Ghosh
The fashion industry is divided into 4 levels - primary, secondary, retail, and auxiliary. The primary level involves raw material production. The secondary level is apparel manufacturing. Retail involves distribution of products to stores like department stores and boutiques. The auxiliary level provides support services to all levels, including fashion media, organizations, and consultants.
Anyone interested in the basics of marketing could access this presentation which talks about the 7Ps, & the product, place, price & promotion at length
In increasingly competitive markets, consumers have a greater choice over where they buy their goods and services. For an organization to meet its business objectives, it has to find out what consumers require and then identify the best way in which it can satisfy these needs and wants. Creating a competitive advantage can be difficult. A unique marketing strategy with clear objectives is vital to ensure effective promotional activity.
The document discusses the marketing mix, also known as the 7Ps of marketing. It begins by defining the marketing mix as the combination of marketing tools used by a company to satisfy customers and achieve organizational goals. It then provides a brief history of the marketing mix concept and discusses the original 4Ps framework developed by McCarthy as well as subsequent expansions to the 7Ps. The remainder of the document defines each of the 7Ps - product, price, place, promotion, people, processes, and physical evidence - and provides examples of factors to consider for each element of the marketing mix. In conclusion, it emphasizes that all elements of the 7Ps framework must be aimed at catering to the target customer needs and wants in order to develop
Marketing Management - What is Marketing ?FaHaD .H. NooR
Marketing is used to create the customer, to keep the customer and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that Marketing is one of the premier components of Business Management - the other being Innovation.Other services and management activities such as Operations (or Production), Human Resources, Accounting, Law and Legal aspects can be "bought in" or "contracted out".
The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:
(1) identification, selection and development of a product,
(2) determination of its price,
(3) selection of a distribution channel to reach the customer's place, and
(4) development and implementation of a promotional strategy.
For example, new Apple products are developed to include improved applications and systems, are set at different prices depending on how much capability the customer desires, and are sold in places where other Apple products are sold.
what is marketing mix, 4 p's of marketing mix, product mix, place mix, price mix, promotion mix,distribution channels, marketing 7p's , 4 c's of marketing, application of marketing mix and example of amazon's marketing mix.
This document discusses key marketing concepts and strategies. It defines marketing and outlines the marketing process as identifying customer needs and developing products and services to meet those needs. The marketing concept of fulfilling existing customer needs while also satisfying new needs is explained. The roles and responsibilities of marketing managers are presented, including market research, developing marketing strategies and plans, managing the marketing mix, and measuring success. Current and future marketing trends involving social media, mobile, and location-based marketing are also summarized.
IE Business School_Essay 3_ FMCG Consulting_Neha Gujralnehaagujral
Neha Gujral wants to explore the fast moving consumer goods (FMCG) sector from a consulting perspective. She believes her leadership and interpersonal skills will allow her to quickly connect with clients and present recommendations to address issues in the sector. The FMCG sector faces challenges in understanding consumer demands, responding to environmental changes, managing inflationary pressures, and surviving competition. Neha discusses how her education at IE Business School will further develop her skills in areas like leadership, teamwork, negotiation, and understanding global markets to advise clients in addressing these challenges.
Roles & Responsibilities of Merchandiser in an Fashion industry Anil Kumar
Merchandiser is the interface between Buyer & Exporter. He is the responsible from order analysis to shipment. So Merchandising is the very valuable in the Apparel Industry. The merchandiser is the person whose responsibility is to execute the orders perfectly as per the costing and pricing. He contact and communicate with the buyer till the final Shipment. He is the backbone of any industries.
This document discusses market segmentation and target marketing. It defines market segmentation as dividing a market into subgroups with distinct needs and characteristics that may require separate products or marketing mixes. The document outlines different levels of market segmentation from mass marketing to niche and individual marketing. It also discusses various bases for segmenting consumer markets, including geographic, demographic, psychographic, and behavioral factors. Finally, it covers strategies for evaluating and selecting target markets, such as undifferentiated, concentrated, and differentiated approaches.
This presentation summarizes the marketing plan for Pran Juice. Pran Group is a leading business in Bangladesh that was established in 1980 and has diversified into many areas. Pran Juice comes in glass bottles, aseptic packs, and cans in flavors like mango, guava, and orange. It will be distributed through existing distributors and some new channels. The marketing mix involves unique product qualities, cost-based pricing, widespread distribution targeting students and children, and advertising through television, radio, newspapers and events. Sales are forecast to grow 35-55% annually in different channels. Customer satisfaction and feedback will be used to control the marketing plan. The conclusion is that Pran Juice has potential for success as
Marketing mix is one of the major concepts in modern marketing. It is the combination of various elements which constitutes the company’s marketing system. It is set of controllable marketing variables that the firm blends to produce the response it wants in the target market. Though there are many basic marketing variables.
1. The document discusses various aspects of storage, transportation, processing, packaging, branding, grading, quality control and labeling of agricultural products.
2. It describes traditional and improved methods of storage for small and large scales.
3. Transportation widens markets and facilitates specialized farming while its costs depend on distance, product characteristics and road conditions.
4. Processing converts raw materials into usable forms, satisfies consumers, and generates employment.
advertisement, salesmanship and personal sellingDinesh Dhoni
This document defines advertising and discusses its objectives and advantages and disadvantages. It outlines different advertising techniques and media used, including direct advertising, indoor advertising, outdoor advertising, point of purchase advertising, and specialty advertising. It then defines personal selling and salesmanship, noting that sales are important for business profits. Personal selling involves creating demand and promoting sales through face-to-face interactions with prospective buyers. The document also discusses the significance of personal selling, types of salesmen, methods of remunerating salesmen, and the role of medical representatives in the pharmaceutical industry. It notes that medical representatives receive general, specialized, and continuous training.
The document discusses product mix strategies and key product-related concepts. It begins with defining the product, product line, and product mix. It then covers product classification, the five levels of a product, and factors influencing the product mix. The rest of the document discusses important product decisions around innovation, standardization, elimination, and diversification. It provides examples and reasons for each. Finally, it touches on branding, packaging, and labeling. The overall document provides a comprehensive overview of product mix strategies and critical product-related terms.
Once marketers understood on the integrated marketing communication system,the next step is to know about consumers and their behaviour. The chapter emphasizes the important of Understanding the Consumer Behaviour.
This document summarizes a study on the 4 P's (Product, Price, Place, Promotion) of Sudha Milk and milk products in Patna, Bihar, India. The study found that Sudha has a high market share compared to competitors. While customers find Sudha's prices fair, the distribution channel needs improvement, especially in small streets and during festivals when supply is insufficient. The document suggests Sudha improve quality, increase retailer margins, expand distribution and advertise more to increase awareness of new products like honey.
This project was done by be in Bigbazaar kachiguda on category management.This material is very helpful as a reference to those people who want to do their project work
in bigbazaar.
Marketing research is the systematic process of designing, collecting, analyzing and reporting data to address a specific marketing problem or opportunity. It helps companies gain a deeper understanding of customer needs, reduce risks of product failure, and forecast future trends. The findings of marketing research are used to identify opportunities and issues, develop and evaluate marketing strategies, monitor performance, and improve decision making.
The document discusses why product sampling is an effective marketing strategy. It notes that sampling puts products directly in the hands of consumers, allowing them to experience the product firsthand. This helps reduce risks and increases purchase intent, as most consumers who receive and try samples will then buy the brand. Sampling is also described as an effective means of customer acquisition, motivating purchases, and multiplying the effects of other marketing efforts through word-of-mouth. The document then provides details on how to implement sampling campaigns, including using adequate sample sizes, engaging customers beyond just the sample, and focusing sampling efforts geographically and among target audiences.
This document discusses sales promotion strategies and tools. It outlines objectives of sales promotions such as gaining market share, expanding the target market, and generating short-term cash. Pull and push strategies are described, with pull strategies targeting consumers and push strategies directing efforts at resellers. Common sales promotion tools include prizes, samples, catalogs, and price discounts. The document also covers testing sales promotions and providing guidelines for effective promotional campaigns.
This marketing plan summary outlines Dabur's marketing strategy to introduce an ayurvedic hand sanitizer in Bangladesh. The plan involves establishing the brand through various online and offline promotion tactics like social media marketing, TV advertisements, and brand ambassadors. The target audience is people aged 16-65 from middle to upper-class households. Key objectives are to achieve 10% market share in the first year and establish the brand as a trusted hygiene product offering natural benefits at an affordable price compared to competitors. The action plan details promotional activities and offers over the first year to gradually increase sales from an initial estimated revenue of BDT 90,000 in the first month.
study of marketing mix of a restaurant Prudhvi Raj
This document appears to be a project report submitted for a Master's degree program. It discusses a study conducted on the marketing mix of I Enjoy Foods, a food company in Visakhapatnam, India. The report includes chapters on the theoretical framework of marketing, the company's organizational profile, the study's methodology, analysis of findings, and conclusions. It examines the 7 P's of marketing - product, price, promotion, place, people, physical evidence, and process in relation to I Enjoy Foods' operations. The report was submitted by Sana Prudhvi Raj under the guidance of their project supervisor.
This document is a marketing assignment submitted by Afrah A. Sheikh, a marketing manager of a pastry shop called Afrah's Baking Delights located in Al-Khobar, Saudi Arabia. The summary discusses the bakery's products, marketing philosophy, importance of customer relationships, and promotional mix. As the marketing manager, Sheikh chooses the marketing concept philosophy and uses various promotional methods like advertisements, flyers, and branded packaging to promote the new bakery. The assignment helped Sheikh understand how to properly plan and promote a business to ensure its success.
This document provides details of a case solution submitted by the team "Grey Matter" from NMIMS Mumbai. It includes an executive summary outlining their approach, research conducted, proposed shift in Savlon's positioning, plans for innovation-led growth, and a touch point journey map. It then provides more details on the proposed marketing campaigns, product innovations, a subscription model, and financial projections. The team's solution focuses on positioning Savlon as a facilitator of change for families and targets different family members through various marketing initiatives and product offerings.
Haritha Enterprises was founded in 2017 in Bengaluru as a franchise of Bosch and Siemens appliances. It aims to provide high-quality home appliances and services. While sales have fluctuated in recent years, profits increased by 16.06% in 2022. Strengths include high-tech products and customer service, but high costs and competition present challenges.
This document discusses sales promotion tools and techniques. It defines sales promotion as marketing activities used to boost sales of a product or service. Some key tools of sales promotion discussed are free samples, coupons, discounts, and premium offers for consumers, as well as cash bonuses, stock returns, and credit terms for trade. The document also covers push and pull promotional strategies, with push strategies taking the product directly to customers and pull strategies building customer demand through advertising. In conclusion, it states that sales promotion refers to non-recurring short-term sales activities beyond advertising and are growing in popularity due to quick returns and ability to change attitudes.
Listen learn lead product coffee 01272021Lisa Crymes
LESSONS LEARNED FOR PRODUCT MANAGERS FROM
THE CUSTOMER EXPERIENCE WORLD
• What is Customer Experience?
• Customer Experience case studies
• Customer Experience tools
• How to apply Customer Experience lessons and tools to Product Management
View recording: https://www.youtube.com/watch?v=UuoplWVsbrw&t=1502s
The document discusses various aspects of promotion including the need for promotion, components of the communication mix, promotion mix, objectives of promotion, kinds of promotion, approaches to promotion, methods of promotion, factors affecting promotion mix, sales promotion, consumer sales promotion, dealer promotion, business promotion, personal selling, changing face of personal selling, efficacy of personal selling, modern concept of salesmanship, types of salesman, essentials of effective selling, qualities of a good salesman, sales process, and steps in collaborative selling. It provides information on developing an effective promotional strategy.
Consumer Connects can deliver product samples to over 60 million homes across India through the largest home delivery network for sampling. They provide a focused, measurable and cost-effective way to sample products and acquire new customers. By directly putting products in consumers' hands, sampling eliminates the risk of trying new brands, increases purchase intent, and creates word-of-mouth that multiplies marketing efforts. Consumer Connects ensures samples reach the right targets and provides reporting to measure sampling's impact on sales.
Sherona organiations study at moolans international exim pvt ltdLibu Thomas
This document summarizes an organizational study of Moolans International Exim Pvt, Ltd. The study aimed to understand the company's structure, departments, products, and SWOT analysis. Key findings include that the company has a good reputation and loyal customer base due to its quality products and careful selection of raw materials. However, the study also found there is a lack of space for expansion and generational gaps between employees. Suggestions provided include improving employee benefits and introducing new product lines and marketing strategies to address competition.
Unlock Product Growth & User Engagement by Microsoft Sr PMProduct School
Main Takeaways:
- But my active user count is growing, why should I study retention?
- Active vs activated users and how they impact churn and retention
- Customer retention lifecycle
- Cohort definitions, time windows, hypotheses & experiments
Take Action
This document provides an overview of key concepts related to products, services, and brands. It discusses what defines a product, different types of products and services, individual product decisions around attributes, quality and features. It also covers branding strategy, building strong brands through brand name selection, development and positioning. Additionally, it outlines key aspects of services marketing including the service-profit chain and strategies for differentiating services.
Similar to Product and its Branding -Marketing Management (20)
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
What’s “In” and “Out” for ABM in 2024: Plays That Help You Grow and Ones to L...Demandbase
Delve into essential ABM ‘plays' that propel success while identifying and leaving behind tactics that no longer yield results. Led by ABM Experts, Jon Barcellos, Head of Solutions at Postal and Tom Keefe, Principal GTM Expert at Demandbase.
The advent of AI offers marketers unprecedented opportunities to craft personalized and engaging customer experiences, evolving customer engagements from one-sided conversations to interactive dialogues. By leveraging AI, companies can now engage in meaningful dialogues with customers, gaining deep insights into their preferences and delivering customized solutions.
Susan will present case studies illustrating AI's application in enhancing customer interactions across diverse sectors. She'll cover a range of AI tools, including chatbots, voice assistants, predictive analytics, and conversational marketing, demonstrating how these technologies can be woven into marketing strategies to foster personalized customer connections.
Participants will learn about the advantages and hurdles of integrating AI in marketing initiatives, along with actionable advice on starting this transformation. They will understand how AI can automate mundane tasks, refine customer data analysis, and offer personalized experiences on a large scale.
Attendees will come away with an understanding of AI's potential to redefine marketing, equipped with the knowledge and tactics to leverage AI in staying competitive. The talk aims to motivate professionals to adopt AI in enhancing their CX, driving greater customer engagement, loyalty, and business success.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Breaking Silos To Break Bank: Shattering The Divide Between Search And SocialNavah Hopkins
At Mozcon 2024 I shared this deck on bridging the divide between search and social. We began by acknowledging that search-first marketers are used to different rules of engagement than social marketers. We also looked at how both channels treat creative, audiences, bidding/budgeting, and AI. We finished by going through how they can win together including UTM audits, harvesting comments from both to inform creative, and allowing for non-login forums to be part of your marketing strategy.
I themed this deck using Baldur's Gate 3 characters: Gale as Search and Astarion as Social
Build marketing products across the customer journey to grow your business and build a relationship with your customer. For example you can build graders, calculators, quizzes, recommendations, chatbots or AR apps. Things like Hubspot's free marketing grader, Moz's site analyzer, VenturePact's mobile app cost calculator, new york times's dialect quiz, Ikea's AR app, L'Oreal's AR app and Nike's fitness apps. All of these examples are free tools that help drive engagement with your brand, build an audience and generate leads for your core business by adding value to a customer during a micro-moment.
Key Takeaways:
Learn how to use specific GPTs to help you Learn how to build your own marketing tools
Generate marketing ideas for your business How to think through and use AI in marketing
How AI changes the marketing game
From Hope to Despair The Top 10 Reasons Businesses Ditch SEO Tactics.pptxBoston SEO Services
From Hope to Despair: The Top 10 Reasons Businesses Ditch SEO Tactics
Are you tired of seeing your business's online visibility plummet from hope to despair? When it comes to SEO tactics, many businesses find themselves grappling with challenges that lead them to abandon their strategies altogether. In a digital landscape that's constantly evolving, staying on top of SEO best practices is crucial to maintaining a competitive edge.
In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
1. Algorithm Changes: The ever-changing algorithms can leave businesses feeling like they're chasing a moving target. Search engines like Google frequently update their algorithms to improve user experience and provide more relevant search results. However, these updates can significantly impact your website's visibility and ranking if you're not prepared.
2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
In the face of the news of Google beginning to remove cookies from Chrome (30m users at the time of writing), there’s no longer time for marketers to throw their hands up and say “I didn’t know” or “They won’t go through with it”. Reality check - it has already begun - the time to take action is now. The good news is that there are solutions available and ready for adoption… but for many the race to catch up to the modern internet risks being a messy, confusing scramble to get back to "normal"
Customer Experience is not only for B2C and big box brands. Embark on a transformative journey into the realm of B2B customer experience with our masterclass. In this dynamic session, we'll delve into the intricacies of designing and implementing seamless customer journeys that leave a lasting impression. Explore proven strategies and best practices tailored specifically for the B2B landscape, learning how to navigate complex decision-making processes and cultivate meaningful relationships with clients. From initial engagement to post-sale support, discover how to optimize every touchpoint to deliver exceptional experiences that drive loyalty and revenue growth. Join us and unlock the keys to unparalleled success in the B2B arena.
Key Takeaways:
1. Identify your customer journey and growth areas
2. Build a three-step customer experience strategy
3. Put your CX data to use and drive action in your organization
The Forgotten Secret Weapon of Digital Marketing: Email
Digital marketing is a rapidly changing, ever evolving industry--Influencers, Threads, X, AI, etc. But one of the most effective digital marketing tools is also one of the oldest: Email. Find out from two Houston-based digital experts how to maximize your results from email.
Key Takeaways:
Email has the best ROI of any digital tactic
It can be used at any stage of the customer journey
It is increasingly important as the cookie-less future gets closer and closer
In this dynamic session titled "Future-Proof Like Beyoncé: Syncing Email and Social Media for Iconic Brand Longevity," Carlos Gil, U.S. Brand Evangelist for GetResponse, unveils how to safeguard and elevate your digital marketing strategy. Explore how integrating email marketing with social media can not only increase your brand's reach but also secure its future in the ever-changing digital landscape. Carlos will share invaluable insights on developing a robust email list, leveraging data integration for targeted campaigns, and implementing AI tools to enhance cross-platform engagement. Attendees will learn how to maintain a consistent brand voice across all channels and adapt to platform changes proactively. This session is essential for marketers aiming to diversify their online presence and minimize dependence on any single platform. Join Carlos to discover how to turn social media followers into loyal email subscribers and ultimately, drive sustainable growth and revenue for your brand. By harnessing the best practices and innovative strategies discussed, you will be equipped to navigate the challenges of the digital age, ensuring your brand remains relevant and resonant with your audience, no matter the platform. Don’t miss this opportunity to transform your approach and achieve iconic brand longevity akin to Beyoncé's enduring influence in the entertainment industry.
Key Takeaways:
Integration of Email and Social Media: Understanding how to seamlessly integrate email marketing with social media efforts to expand reach and reinforce brand presence. Building a Robust Email List: Strategies for developing a strong email list that provides a direct line of communication to your audience, independent of social media algorithms. Data Integration for Targeted Campaigns: Leveraging combined data from email and social media to create personalized, targeted marketing campaigns that resonate with the audience. Utilization of AI Tools: Implementing AI and automation tools to enhance efficiency and effectiveness across marketing channels. Consistent Brand Voice Across Platforms: Maintaining a unified brand voice and message across all digital platforms to strengthen brand identity and user trust. Proactive Adaptation to Platform Changes: Staying ahead of social media platform changes and algorithm updates to keep engagement high and interactions meaningful. Conversion of Social Followers to Email Subscribers: Techniques to encourage social media followers to subscribe to email, ensuring a direct and consistent connection. Sustainable Growth and Minimized Platform Dependence: Strategies to diversify digital presence and reduce reliance on any single social media platform, thereby mitigating risks associated with platform volatility.
Are you struggling to differentiate yourself in a saturated market? Do you find it challenging to attract and retain buyers? Learn how to effectively communicate your expertise using a Free Book Funnel designed to address these challenges and attract premium clients. This session will explore how a well-crafted book can be your most effective marketing tool, enhancing your credibility while significantly increasing your leads and sales while decreasing overall lead cost. Unpacking practical steps to create a magnetic book funnel that not only draws in your ideal customers, but also keeps them engaged. Break through the noise in the marketing world and leave with a blueprint that will transform your sales strategy.
The Strategic Impact of Storytelling in the Age of AI
In the grand tapestry of marketing, where algorithms analyze data and artificial intelligence predicts trends, one essential thread remains constant — the timeless art of storytelling. As we stand on the precipice of a new era driven by AI, join me in unraveling the narrative alchemy that transforms brands from mere entities into captivating tales that resonate across the digital landscape. In this exploration, we will discover how, in the face of advancing technology, the human touch of a well-crafted story becomes not just a marketing tool but the very essence that breathes life into brands and forges lasting connections with our audience.
Mastering Local SEO for Service Businesses in the AI Era"" is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
We will explore the transformative journey of American Bath Group as they transitioned from a traditional monolithic CMS to a dynamic, composable martech framework using Kontent.ai. Discover the strategic decisions, challenges, and key benefits realized through adopting a headless CMS approach. Learn how composable business models empower marketers with flexibility, speed, and integration capabilities, ultimately enhancing digital experiences and operational efficiency. This session is essential for marketers looking to understand the practical impacts and advantages of composable technology in today's digital landscape. Join us to gain valuable insights and actionable takeaways from a real-world implementation that redefines the boundaries of marketing technology.
Did you know that while 50% of content on the internet is in English, English only makes up 26% of the world’s spoken language? And yet 87% of customers won’t buy from an English only website.
Uncover the immense potential of communicating with customers in their own language and learn how translation holds the key to unlocking global growth. Join Smartling CEO, Bryan Murphy, as he reveals how translation software can streamline the translation process and seamlessly integrate into your martech stack for optimal efficiency. And that's not all – he’ll also share some inspiring success stories and practical tips that will turbocharge your multilingual marketing efforts!
Key takeaways:
1. The growth potential of reaching customers in their native language
2. Tips to streamline translation with software and integrations to your tech stack
3. Success stories from companies that have increased lead generation, doubled revenue, and more with translation
In today's digital world, customers are just a click away. "Grow Your Business Online: Introduction to Digital Marketing" dives into the exciting world of digital marketing, equipping you with the tools and strategies to reach new audiences, expand your reach, and ultimately grow your business.
website = https://digitaldiscovery.institute/
address = C 210 A Industrial Area, Phase 8B, Sahibzada Ajit Singh Nagar, Punjab 140308
2. “✔ Product
✔ Features of a product
✔ Classification of a product
✔ Levels of a product
✔ Product Mix
✔ Dimensions of Product Mix
✔ Strategies of product Mix
✔ Product Life Cycle
✔ Reasons for Product Failure
3. What is a product?
✔ Product satisfy the need of the society.
✔ Product is determined by the needs and desires of the consumers.
E.g.: When one buys toothpaste he buys in the hope of getting whiter teeth and avoiding bad odour.
✔ Consumer buys a promise of solving problems.
✔ A product is both what a seller has to sell? and what a buyer has to buy?
✔ Alderson defines, “Product is a bundle of utilities consisting of various product features and
accompanying services”.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
5. “
✔ Tangibility
✔ Intangible attributes
✔ Associated attributes
✔ Exchange Value
✔ Consumer Satisfaction
FEATURES OF A PRODUCT
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
6. Tangibility
✔touched and seen
✔Form of Product/Goods
✔Eg: Car, Shirt, Book etc
Features
Intangible attribute
✔Only be felt
✔Form of Service
✔Eg: Free service offered
Associated Attribute
✔Related features
✔Brand, Package &
warranty
✔Eg: HUL- DALDA real
name s Vanaspati Ghee
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
7. Place your screenshot here
Brand name and
packaging plays a
dominat role in
marketing
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
8. Exchange Value
✔Exchanged between the buyer
and seller for mutual agreed
price
Features
Customer Satisfaction
✔Product should offer Value
satisfaction to the consumer.
✔Real & Psychological satisfaction.
✔Eg: Buying Fairness Cream gives the
hope of buying beauty.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
9. Classification of Goods/Product
Classification of
Product/Goods
Industrial Goods Consumer Goods
Speciality
Goods
Convenience
Goods
Shopping Goods
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
10. Industrial Goods
Goods used for further Production.
Capital goods, Raw materials & Component Parts.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
11. Consumer Goods
Coveneience Goods
✔ Consumers buy
frequently.
✔ Minimum shopping
effort.
✔ Eg: Soap, Toothpaste,
Powder Etc.
Shopping Goods
✔ Not purchased
regularly.
✔ careful comparison on
the base of Quality,
style, Price, Suitability
✔ Eg: Clothes, furniture,
Shoes Etc.
Speciality Goods
✔ Less frequent
Purchase (once in few
years).
✔ Goods are with unique
characters.
✔ High priced goods.
✔ Eg: Fancy & Luxurious
✔ Car, Camera Etc.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
14. “✔ Core Benefit or product
✔ Basic Or Generic Product
✔ Expected Product
✔ Augmented Product
✔ Potential Product
LEVELS OF A PRODUCT
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
15. Levels of a Product Diagram
Core Product
Basic Product
Expected product
Augmented Product
Potential Product
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
16. Core
product
✔ The core benefit is the basic
need or want that the
customer satisfies when they
buy the product.
✔ Eg: Hotel customer is buying
the concept of rest and peace
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
17. Basic
product
✔ The generic product is a basic
version of the product made
up of only those features
necessary for it to function.
✔ Eg: The basic product for
Hotel may include Bed, toilet,
Towel.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
18. Expected
product
✔ The expected product
includes additional features
that the customer might
expect during the purchase.
✔ Eg: Hotel customer expect
Clean bed, fresh towel and
degree of quietness.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
19. Augmented
product
✔ The augmented product refers
to any product variations or
extra features that might help
differentiate the product from
its competitors
✔ Additional amenities
✔ Eg: Hotel Customer expect TV
with remote control and Wi-Fi
connection (High Speed
Internet)
Exceeds Customer Expectation
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
20. Potential
product
✔ The potential product includes all
augmentations and improvements
the product might experience in the
future.
✔ Companies search new ways to
satisfy the customers.
✔ continue to surprise and delight
customers the product must be
constantly improved.
✔ Eg: Hotel customer expect gifts,
chocolates, or luxury bath products
that will make the customer happy .
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
21. Product Mix
• Product mix is also known as product assortment.
• It refers to the total number of product lines a company
offers to its customers.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
22. Four Dimensions of Product Mix
Width (Number of
Product Lines)
The number of product lines the
company sells.
Length (Total Products)
The product mix length is the total
number of products or items in your
company's product mix.
Depth (Product Variation)
Depth of a product mix pertains to the total
number of variations for each product.
Variations can include size, flavour and any
other distinguishing characteristic.
Consistency
Product mix consistency describes how closely related
product lines are to one another – in terms of use,
production and distribution. Your company's product mix
may be consistent in distribution but vastly different in
use..
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
23. Product Mix Division format
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for
Women, Virudhunagar.
26. Product Mix strategies
The strategies are employed by the producer or wholesaler
of the company
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
27. “✔ Expansion of Product Mix
✔ Contraction of product Mix
✔ Alteration of existing
product.
✔ Positioning the product.
✔ Trading up and Trading
down.
✔ Product Differentiation
Strategies of Product Mix
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
28. Strategies of product Mix
Expansion of Product Mix
✔ Its is referred to Diversification.
✔ Expansion of product mix implies increasing the number of product lines.
✔ Increasing the number of Product items with the same line.
✔ New lines may be related or unrelated to the present products.
✔ Example TATA Products_Tata cliq, HUL , P&G etc.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
29. Strategies of product Mix
Expansion
of
Product Mix
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
30. Strategies of product Mix
contraction of Product Mix
✔ Drop the production of unprofitable product.
✔ Contraction consists of dropping or eliminating one or more product lines or
product items.
✔ It is also termed as Simplification. Deleting or eliminating product items, which are
unnecessary from the product line.
✔ To eliminate Low profit products and to get more profit from fewer products.
✔ E.g. Tata deleted Nano from his automobiles
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
31. Strategies of product Mix
Contraction
of
Product Mix
Samsung deleted these product because
of technological up-gradation.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
32. Strategies of product Mix
Alteration of Existing product
✔ Improvement or alteration can be more profitable and less risky compared to
completely a new product.
✔ Alteration may be made in design, size, color, packaging, quality etc.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
33. Strategies of product Mix
Alteration
of
Existing
product
Example
Change in packaging
design
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
34. Strategies of product Mix
Positioning of the product
✔ A product position is the image that the product projects in relation to
competitive product in the minds of the consumer.
✔ The product feature will attract the customer.
✔ Positioning is attained by Product differentiation and Market segmentation.
✔ Example, Coca Cola may convince to use its soft drink along with lunch.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
35. Strategies of product Mix
Positioning
of
product
Example
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
36. Strategies of product Mix-
Trading up & Trading Down
Trading up
✔ Trading up consists of adding the high-price-prestige products in its existing
product line.
✔ The new product is intended to strengthen the prestige and goodwill of the
company.
✔ New prestigious product increases popularity of company and improves image
in the mind of customers.
✔ Eg: Tata (Jaguar Car) Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
37. Strategies of product Mix-
Trading up & Trading Down
Trading Down
✔ A company producing and selling costly, prestigious, and premium quality
products decides to add lower- priced items in its costly and prestigious
product lines.
✔ Who cannot afford at high price product can buy expensive products of the
same company at low price.
✔ Attract price sensitive customers.
✔ Eg P&G (Ariel_-> Tide) Idhayam (Idhayam delight__-> sim sim)
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for
Women, Virudhunagar.
38. Strategies of product Mix
Product Differentiation
✔ Developing and promoting awareness of
difference between one company products and
those of others.
✔ To remove from price competition.
✔ Exclusive Trade mark, Patent rights, trade
name it is differentiated from other product.
✔ Unique in nature
Market segmentation
✔ Dividing the whole market into smaller
number of specific market to attract variety
of customers.
EG: Demographic segmentation- Income, age, Sex
etc
✔ perfumes – Male, female & Unisex
✔Watch (Titan)- Male , female & Unsex/ Kids &
Yougsters
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
39. Product life Cycle
✔ Philip Kotler:”The product life cycle is an
attempt to recognize distinct stages in
sales history of the product.”
✔ A new product progresses through a
sequence of stages from introduction to
growth maturity and decline. This
sequence is known as Product Life Cycle.
✔ It is associated with the changes in
Marketing Situation.
✔ There are Four stages of PLC
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
40. “
✔ Introduction (Birth)
✔ Growth (Adolescence)
✔ Maturity & Saturation
(Youth)
✔ Decline (Death)
Product life Cycle 4 stages of PLC
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
41. Product life Cycle Example
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
42. Product life Cycle Example
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
43. Introduction
✔ Huge selling and promotional costs are required to increase awareness of
customers.
✔ Price is kept high to recover high development, production, and marketing costs.
✔ Marketer has to tackle technical and production problems.
✔ Sale is low and increasing at a lower rate.
✔ There is loss or negligible profit.
✔ There is no competition
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
44. Growth
✔ Sales increase rapidly (or at increasing rate) as a result of consumer acceptance of
the products.
✔ Company can earn maximum profits.
✔ Competitors enter the market due to attractive profits.
✔ Price is reduced to attract more consumers.
✔ Distribution network is widened and improved.
✔ Necessary primary changes are made in product to remove defects.
✔ Company enters the new segments and new channels are selected.Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
45. Maturity
✔ Sales increase at decreasing rate.
✔ Profits start to decline.
✔ Marginal competitors leave the market.
✔ Product, market, and marketing mix modifications are undertaken.
✔ Some products the maturity stage is extended and it s classified as saturation stage.
✔ Saturation stage is between maturity and decline. (company gets a decision were a
replacement should be needed)
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
46. Decline
✔ Sales fall rapidly.
✔ Profits fall more rapidly than sales.
✔ Product modification is adopted.
✔ Gradually, the company prefers to shift resources to new products.
✔ Most of sellers withdraw from the market.
✔ Promotional expenses are reduced to realize a little profit.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
47. Characteristics Introduction Growth Maturity Decline
Sales Low sales Rapidly rising
sales
Peak sales Declining sales
Cost per
Customer
High cost Average Cost Low cost Low cost
Profit Negative Rising profit High Profit Declining profit
Customer Innovators Early adopters Middle Majority Laggards
Competitors No competitors
Or
Few Competitors
Growing Number Stable Number
begin to decline
Declining Number
Characteristics Introduction Growth Maturity Decline
Objective Create product
Awareness and
trial
Maximize market
share
Maximize profit
while defending
market share
Reduce
expenditure
Product Life Cycle
48. Characteristics Introduction Growth Maturity Decline
Product Basic product Product Extension
(Eg: Service, warranty)
Diversify Brands Phase out weak
products
Price Cost+ Pricing
Skimming pricing
Price to penetrate the
market.
Price to match
the competitors
Cut price
Place Selective
distribution
Intensive distribution More intensive
distribution
Phase out
unprofitable outlet
Promotion High Promotion Mass Market and build
awareness
Stress branding Reduce promotion
and provide offers
and discounts
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
Product Life Cycle
50. Reason for product Failure
Poor product quality:
Obviously, a product, which is
of poor quality, cannot be
sold in the market.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
51. Reason for product Failure
Higher price:
Higher production and distribution
costs may lead to higher price.
Such a product cannot be sold in a
market consisting of middle and
lower income buyers.
Versace and Vertu mobile
Rs.3,80,000 & Rs. 85,000
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
52. Reason for product Failure
Volkswagen Beetle (Expensive Price Tag)
28.73
Lakhs
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women, Virudhunagar.
53. Reason for product Failure
Poor timing
It is important that a product,
to be successful, is introduced
in the market at the correct
time. If it is introduced at an
unsuitable time it may turn out
to be a failure.
Pager
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
54. Reason for product Failure
Inherent Defect
There may be an inherent defect
in the product, which may affect
its market potentialities. Such a
product may not be preferred by
the buyers even if the defect is
rectified later.
Tata Nano
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
55. Reason for product Failure
Imitation product
The presence of a number of
imitation products in the market
makes the genuine products
vulnerable. An average buyer may
not be able to distinguish between
the genuine product and the fake
one.
Examples
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
56. Reason for product Failure
✔ Conception of product idea may be faulty.
✔ Design of the product is not clear to the audience
✔ Marketing may be inefficient or insufficient.
✔ High cost of production
✔ Poor packaging and Inappropriate size.
✔ Introducing product were there is no demand.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
57. Reason for product Failure
✔ Stressing product attribute incorrectly.
✔ Unavailability of spare parts and poor after-sales service
✔ Government policy.
✔ Faulty distribution policy (Right product at the right place and at
the right Time).
✔ Heavy Competition in the market.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
59. “✔ Brand name
✔ Logo, tagline
✔ Image of the product
✔ Address of the manufacturer
✔ Quantity of the content
✔ Usage of the product
✔ Ingredients in the product
✔ Precautionary measures
LABELING
Information
Inlabel
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
60. “✔ Nature of the product
✔ Date of packaging and
expiry
✔ MRP
✔ Barcode
✔ Veg & Non Veg symbol
LABELING
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
61. Example of a Label
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
62. Advantages of labeling
✔ Grades the product
✔ Right price for the product.
✔ Avoids confusion.
✔ Helps in advertising activity.
✔ Guarantee for the standard.
✔ Label is the media to popularize the product
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
63. Disadvantages of Labeling
✔ No use to illiterate population.
✔ Increases the cost of the product.
✔ It aims at popularizing the product rather than giving nformtion
to the customers.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
64. Packaging
✔ Packaging is the science, art, and technology of enclosing or for
distribution, storage, sale, and use.
✔ Packaging also refers to the process of .
Packaging can be described as a coordinated system of preparing goods for transport,
warehousing, logistics, sale, and end use.
✔ Packaging . In many
countries it is fully integrated into government, business, institutional, industrial, and
personal use.
✔ The wrapper or the container is called package.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
65. Functions of packaging
✔ Product Protection
✔ Product containment (throw away containers) – space in which
the product is contained.
✔ Product Attractiveness (size, shape and printed matter).
✔ Product Identification (package differentiate similar product).
✔ Product convenience (easily handled, opened, moved etc).
✔ Effective sales tool (silent salesman)
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
66. Psychology of packaging
✔ Good package s taller in size, not shorter, contains bigger
product.
✔ Women like round or curved shape of packaging.
✔ Attractive and innovative packaging has value, many people buy
the product for the sake of the containers.
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.
67. Packaging is
done to protect
the product
Ms.C.Dharshanaa,
Assistant Professor,
Department of Business Administration
V.V.Vanniaperumal College for Women,
Virudhunagar.