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Product mix
The document discusses product mix in detail, beginning with definitions of a product and the key components of a product mix. It then provides examples of ITC's diverse product portfolio across various business segments including FMCG (foods, cigarettes, lifestyle retail, stationery, personal care, safety matches, agarbathis), paper and packaging, and agriculture. Within FMCG, it delves into the various brands and product varieties offered by ITC in food products (Aashirvaad, Sunfeast, Candyman, Bingo), cigarettes, lifestyle retail, stationery, personal care, and kitchen foods.
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Product mix
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- 2. • A productis any thing that can be offered to the market that satisfy customers needs and wants. PRODUCT TANGIBLE INTANGIBLE
- 3. • A productis both what seller has to sell and what buyer has to buy. • It is a bundle of physical, chemical or intangible attributes that have the potential that satisfy present and potential customers wants. • It means goods and services which combination of company offers to the target market . • A product is anything that can be offered to market to satisfy a want or need. • Product that are marketed include physical good, services, experiences, events, person, place, properties, organization, information and ideas
- 4. • A productis anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. • While formulating the marketing strategy, product decision include: What to offer? Brand name Packaging Quality Appearance Functionality Accessories Installation After sales service Warranty
- 5. Features of Product •Tangible • Intangible • Associated attributes • Exchange value • Customer satisfaction
- 6. As the totalcomposite of products offered by a particular organization, consists of both product lines and individual products. Is a group of products within the product mix that are closely related, either because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges
- 7. : It refersto the no. of different product lines the company carries. : It is the total no. of items the Company carries within its products lines. : refer to the no. of versions, offered of each product in the line. : refers to how closely related the various product lines are in end use, production requirements, distribution channels, or some other way.
- 8. UNIQUE SELLING PROPOSSITION • Aunique selling proposition (USP) is a description of the qualities that are unique to a particular product or service and that differentiate it in a way which will make customers purchase it rather than its rivals.
- 9. UNIQUENESS • By offeringat the lowest price • By offering the highest quality • By being exclusive • By offering the best consumer service • By offering widest choice
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- 11. Soap Shampoo CreamToothpaste PERSONAL CARE FOOD & DRINKS TeaIce creamLux Dove Lifebuoy Clear Dove Lifebuoy Close up Pepsodent Cornetto Magnum Lipton Supreme Ponds Dove Fair & Lovely Product Mix Depth Product Line - 1 Product Mix Width Product Line - 2 Product Line Length Product Line Length Product Mix Length Consistency
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- 13. (HUL’s )Product policy Color cosmet ics Skin care Oral care Confe ctiona ries Haircare Deodora nts Soap s & deter gents Toilet Soaps Bever ages food Lakme Fair & lovely pepsoden t Max Sunsilk Axe Surf Liril 3 roses Knorr Annapur na Atta Aviance Pond’s toothbrus h Clinic Pond’s Rin Lifebuoy Lipton yellow label Knorr Annapur na Salt Close up Rexona Wheel Lux Lipton green label Modern foods range Denim Vim Breeze Lipton Ice tea Kwality Wall’s feast Ala Pears Red Label Kwality Wall’s cornetto OK Hamam TajMaha l Sundae’ Dove Brooke Bond Kissan Savlon Bru
- 14. Product mix concepts ProductMix – set of all products offered by the company for sale Product line- a group of related products constitute a product line E.g – Bata had a range of 1138 product lines(2009) Width of Product mix- no of product lines in the product mix e.g 10 lines in HUL’s product mix Length of the product mix is the total no of items in the mix(in example ,it is 46) Avg length of a line- total length/no of lines
- 15. Product mix concepts •Depth – the depth of the product mix is the assortment of all sizes, colours and variations offered for each product in the product line – For example- Lifebuoy Active Red comes in three sizes- 125 gms,100 gms and 60 gms cakes • Consistency : closeness exhibited by the product lines in production requirements , distribution and end usage – For example- most of the HUL Product lines are consistent as they are consumer goods distributed using similar channels and produced using similar facilities
- 16. Product Mix Strategies Tradingup - Offer high priced , prestige products to their existing product line in an effort to increase the sale of their low priced products and enhance the company image E.g. – Lifestyle Trading down –new products, low priced to the existing line E.g –Marriot Corporation introduced a new chain of Hotels called ‘Holiday Inn’ to cater to the needs of not so affluent customers
- 17. Product Mix strategies •Product line analysis – too short Vs too long • Company’s objectives affect product line length • Market share and Higher Profitability
- 18. Line stretching • Acompany stretches its product line beyond the current range of products. • It can stretch its product line in either the down market , up market or both Down Market stretch – introduce the products at a lower price E.g – 3 Roses for the lower end market (HUL) Reasons- Middle market stagnation, potential for growth in Down market ,aim to tie up with the lower end competitors
- 19. Up market stretch •Enter the high end of the market • The objective of the firm may be to have higher growth , increase its margins, or to simply project itself as a full line mfgg firm E.g Lipton Yellow Label (HUL) is a high end stretch with Rs 75 for 250 gms tea . • A company serving in the middle market might indulge in stretching its product line both ways – upward and downward
- 20. Presentation on ProductMix of ITC
- 21. What is productmix? • Product Mix is the total number of product choices a company offers their customer. • Large groups of Industries may have diversified products within core competency. • Larsen & Toubro Ltd, Godrej, Reliance, ITC etc. in India are some of the examples.
- 22. ITC PRODUCT MIX FMCG FOOD CIGARETTES LIFESTYLE-retailing STATIONERY PERSONALCARE SAFETY MATCHES AGARBATH HOTELS WELCOMEGROUP WELCOME HERITAGE FORTUNE LUXURY COLLECTION
- 23. ITC PRODUCT MIX •PAPER BOARD AND PACKAGING • AGRI BUSINESS – rural services, leaf tobacco, spices, agri- input
- 24. FMCG-ITC FOOD -ashirwad, sunfeast,candyman,bingo, kitchen of india
- 25. FMCG ITC-CIGARETTES • INSIGNIA •INDIA KINGS • GOLD FLAKE • SILK CUT • NAVY CUT • CAPSTON • SCISSORS • BRISTOL • FLAKE • BERKERLY
- 26. FMCG ITC-LIFE STYLERETAILING • WILLS LIFE STYLE • JOHN PLAYER • MISS PLAYER
- 27. FMCG ITC-EDUCATION &STATIONERY • CLASSMATE • PERFECT CRAFT • EXPRESSIONS
- 28. FMCG ITC-PERSONAL CARE •FIAMA D’ WILLS • VIVEL D’ WILLS • SUPERIA
- 29. FMCG ITC-SAFETY MATCHES& AGARBATHIS • MANGALDEEP • EXPRESSIONS • I-KNO • EXPRESSION
- 30. FMCG ITC-KITCHEN OFINDIA • CURRY PASTES (butter chicken, fish curry,dum aloo) • CHUTNEYS (shredded mango, mango& jeera, mango & garlic • BIRYANIS- (noor mahal, bohri) • DESSERTS- (jodhpuri moongdal halwa, awadhi badam halwa)
- 33. ASHIRVAD VARIANTS • FLOUR–aashirvad, select atta, chakki atta • SALT • SPICES – chilli powder, turmeric powder, coriander powder, pickle mirch • INSTANT MIXES- gulab jamun, rawa idli, rice idli, rice dosa, khaman dokla, rasmalai
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- 35. SUNFEAST VARIANTS • BISCUITS–butter, cashew, crunchy coconut • SNACKY- chilly flakes, classic salted • GLUCOSE- orange, nice, milky magic • DREAM CREAM -choco, vanila, orange, milk cream • GOLDEN BAKERY - choconut, butternut, butter scotch • FIT-KIT – multi-grain, vitamin • PASTA –cheese, pizza, chicken
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- 37. FOODS • MINTO –Mint o fresh , mint o cool blue, orange mint, lemon mint
- 38. CANDY MAN • FRUITFUN • BUTTER SCOTCH LICKS • ECLAIRS • COFITINO • NATKAT MANGO • NATKHAT GUAVA • MANGO LINKS • MAHA MANGO • LACTO
- 39. BINGO POTATO CHIPS– Salted, masala, tomato, chatkila nimbu achar, tandoori paneer tikka MAD ANGLES – Tomato mischief, chilli dhamaka, achaari masti HATKE JATKE –Funky masala, tomato twist
- 40. LIFE STYLE RETAILING •WILLS LIFESTYLE (wills classic, wills sports, wills clublife, wills signature)
- 41. PERSONAL CARE • VIVELD’ WILLS • FIAMA D’WILLS • SHAMPOOS