The product mix includes four common elements: Length, breadth, depth and consistency.
- Length. The length element of the product mix refers to the number of products in a given product line.
Moreover, what is the concept of the product mix?
Product Mix. Definition: The Product Mix also called as Product Assortment, refers to the complete range of products that is offered for sale by the company. In other words, the number of product lines that a company has for its customers is called as product mix.
What is product depth and width?
Width : Number of different product lines carries by the company. Length : Total Number of items in the product line. Depth : Number of version offered of each product in the line. Consistency : Closely related the various product lines.
This model converts the four P's into more customer oriented four C's:
- Product to Customer Solution.
- Price to Customer Cost.
- Promotion to Customer Communication.
- Place to Customer Convenience.
A core product is a company product or service that is most directly related to its core competencies. The core product enable the use, benefit or problem-solving service for which the consumer is purchasing the product.
A promotional mix is an allocation of resources among five primary elements:
- Public relations or publicity.
- Sales promotion.
- Direct marketing.
- Personal selling.
A Service Page is All About What You Offer – The Who, What, When, and How. The central focus of this page is to communicate your services, the process, and how someone can contact you or sign up for those services. You need to both appeal to potential clients as well as inform them.
The marketing mix in marketing strategy: Product, price, place and promotion. The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product.
This refers to decisions about 1) the conception of a Product, 2) Price, 3) distribution (Place), and 4) Promotion. These are often called the "Four Ps" of marketing. Social marketing also adds a few more "P's." At the end is an example of the marketing mix.
The heart of your business success lies in its marketing. Most aspects of your business depend on successful marketing. The overall marketing umbrella covers advertising, public relations, promotions and sales. Marketing is a process by which a product or service is introduced and promoted to potential customers.
Develops lasting relationships with your audience. Improves brand awareness and recognition. Creates loyalty and trust, with both your current customers and prospects. Helps you to build authority and credibility.
The Marketing Concept. The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition. While this philosophy is consistent with the marketing concept, it would not be adopted widely until nearly 200 years later.
There are five alternative concepts under which organizations design and carry out their marketing strategies.
- 5 Marketing Concepts. Production Concept,
- Production Concept.
- Product Concept.
- Selling Concept.
- Marketing Concept.
- Difference between Selling Concept and Marketing Concept.
- Societal Marketing Concept.
Marketing is the promotion of business products or services to a target audience. Selling concept - Consumers are looking for aggressive sales and promotions from companies. Marketing concept/approach - Consumers want to see the products meet their wants and needs more than the competition.
Modern concepts of marketing are broad concepts. It means finding out the consumer and make the goods as per their needs rather than to provide them what the seller has made. c) Selling concept: – it is not sufficient for the manufacturer to made the goods and wait for the customers.
Typical marketing function types within a larger business might include performing market research, producing a marketing plan, and product development, as well as strategically overseeing advertising, promotion, distribution for sale, customer service and public relations.
7 Functions of Marketing
- Pricing. Setting and communicating the value of products and services.
- Product/Service Management. Designing,developing,maintaining,improving,and aquiring products and services that meet consumer needs.
- Marketing-Information Management.
The six marketing functions are product/service management, marketing-information management, pricing, distribution, promotion, and selling.
The Nine Functions of Marketing
- Product/Service Management. Assisting in the design and development of products and services that will meet the needs of prospective customers.
- Marketing Information Management.
- Distribution (Channel Management.
Meaning & Functions of Marketing Management. Management is the processes of planning, organizing directing motivating and coordinating and controlling of various activities of a firm. Marketing is the process of satisfying the needs and wants of the consumers.
Exchange functions are mainly composed of buying and selling while physical functions are comprised of storage, transportation and processing. However, facilitating functions are composed of standardization, financing, risk bearing and market intelligence.
A product line is a group of related products under a single brand sold by the same company. Companies often expand their offerings by adding to existing product lines, because consumers are more likely to purchase products from brands with which they are already familiar.
Product mix, also known as product assortment, refers to the total number of product lines a company offers to its customers. For example, your company may sell multiple lines of products. The four dimensions to a company's product mix include width, length, depth and consistency.