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.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Theories of Selling
1. AIDAS” theory
2.“Right set of circumstances” theory
3.“Buying-formula” theory
4.“Behavioural equation” theory
Securing Attention
Gaining Interest
Inducing Actions:
J.A Howard
Non-triggering cues
Triggering cues:
Informational cues
A Reinforcement
Specific product information cues
Objectives of Planning in Management, The essential objectives of planning in business organization can be described as follows, management study online MSO
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organization’s relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porter’s 5 Forces.
Porter’s 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyers’ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organization’s external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Theories of Selling
1. AIDAS” theory
2.“Right set of circumstances” theory
3.“Buying-formula” theory
4.“Behavioural equation” theory
Securing Attention
Gaining Interest
Inducing Actions:
J.A Howard
Non-triggering cues
Triggering cues:
Informational cues
A Reinforcement
Specific product information cues
Objectives of Planning in Management, The essential objectives of planning in business organization can be described as follows, management study online MSO
The marketing mix refers to the set of actions, or tactics, that a company uses to promote its brand or product in the market. The 4Ps make up a typical marketing mix - Price, Product, Promotion and Place. However, nowadays, the marketing mix increasingly includes several other Ps like Packaging, Positioning, People and even Politics as vital mix elements.
Product, Services, and Brands - Building Customer Value - MarketingFaHaD .H. NooR
What Is a Product?
Product and Services Decisions
Branding Strategy: Building Strong Brands
Services Marketing
A Product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a need or want
Experiences represent what buying the product or service will do for the customer
Product mix , A complete theory of Buying and MerchandisingAbhayPrabhakar5
A complete theory and research paper on Product , Product Mix and its usage.
A complete theory base for undergraduate students to study the subject of BUYING AND MERCHANDISING.
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.
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
How to Run Landing Page Tests On and Off Paid Social PlatformsVWO
Join us for an exclusive webinar featuring Mariate, Alexandra and Nima where we will unveil a comprehensive blueprint for crafting a successful paid media strategy focused on landing page testing.With escalating costs in paid advertising, understanding how to maximize each visitor’s experience is crucial for retention and conversion.
This session will dive into the methodologies for executing and analyzing landing page tests within paid social channels, offering a blend of theoretical knowledge and practical insights.
The Pearmill team will guide you through the nuances of setting up and managing landing page experiments on paid social platforms. You will learn about the critical rules to follow, the structure of effective tests, optimal conversion duration and budget allocation.
The session will also cover data analysis techniques and criteria for graduating landing pages.
In the second part of the webinar, Pearmill will explore the use of A/B testing platforms. Discover common pitfalls to avoid in A/B testing and gain insights into analyzing A/B tests results effectively.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Monthly Social Media News Update May 2024Andy Lambert
TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3️⃣ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push ‘collabs’ more too.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
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2. • A product is any thing that can be offered to the market that
satisfy customers needs and wants.
PRODUCT
TANGIBLE INTANGIBLE
3. • A product is 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 product is 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 total composite 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 refers to 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
• A unique 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 offering at the lowest price
• By offering the highest quality
• By being exclusive
• By offering the best consumer service
• By offering widest choice
11. Soap Shampoo Cream Toothpaste
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
13. (HUL’s )Product policy
Color
cosmet
ics
Skin
care
Oral
care
Confe
ctiona
ries
Hair care 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
Product Mix – 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
Trading up - 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
• A company 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
21. What is product mix?
• 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.