Coca-Cola deals in juices, soft drinks, and mineral water and hence the product mix of Coca-Cola is three products wide. 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.
What is product line of Coca-Cola product line?
As the company grows, it expands its product portfolio. ... For example, Coca-Cola has around 3,500 product category brands like Minute Maid , Costa Coffee, Smartwater, etc. These brands, even though different from each other, are controlled and operated by a single parent brand – Coca-Cola.
What is the product mix?
Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm . ... Consumer behavior reveals how to appeal to people with different habits tend to use together or think of as similar products or services.
Which is the ingredients of product mix?
The product mix includes four common elements: Length, breadth, depth and consistency .
What is product line and example?
“A product line is a group of related products produced by one manufacturer . For example, products that are intended to be used for similar purposes or to be sold in similar types of shops.” If you have several products with something in common, you can put them into one group.
What is product type example?
Product types are groups of products that share the same attributes . For example, books are typically distinguished by such attributes as ISBN, author, publisher, cover type, language; apparel can be characterized by brand, season, material, etc.
What is product mix example?
Product Mix, another name as Product Assortment, refers to a number of products that a company offers to its customers. For example, a company might sell multiple lines of products , with the product lines being fairly similar, such as toothpaste, toothbrush, or mouthwash, and also other such toiletries.
Why is product mix important?
Your product mix is important in determining the image of your business and brand , as it helps you to maintain consistency in the eyes of your target market. For instance, if you’re a discount retailer, your target market likely consists of economy-minded shoppers looking for low prices.
What is new product?
A new product is a product that is new to the company introducing it even though it may have been made in same form by others. For example, in the area of toilet soaps, different brands introduced by each company are that way, new products as it is new to the company.
What are the 3 elements of a product?
- The Functional Use of the Product.
- The Outward Appearance Design.
- The Quality Delivered to Your Customers.
What do the 4ps stand for?
The four Ps of marketing— product, price, place, promotion —are often referred to as the marketing mix. These are the key elements involved in marketing a good or service, and they interact significantly with each other.
What are the different types of product?
- The differentiated product.
- The customised product.
- The augmented product.
- The potential product.
What are the 4 product line expansion?
Virtually all products have a life cycle comprising four phases: launch, growth, maturity and decline . The launch and growth phases are represented by a surge of sales, but eventually, the product wears out.
How do you write a product line?
- 1) DESIGN SOMETHING DIFFERENT. ...
- 2) DESIGN FOR YOUR AUDIENCE. ...
- 3) CHOOSE THE RIGHT GARMENT. ...
- 4) FIND UNIQUE WAYS TO SELL IT. ...
- 5) INCENTIVIZE YOUR CUSTOMERS.
How do you develop a product line?
- Define Your Target User. Do you want to create something that your existing customers will love, or something that will attract new customers? ...
- Product Validation. ...
- Develop a Go-To-Market Strategy. ...
- Set The Pre-Launch Stage. ...
- Develop the Next Product. ...
- The Bottom Line on Launching a Product.
What are the 4 types of product?
There are four types of products and each is classified based on consumer habits, price, and product characteristics: convenience goods, shopping goods, specialty products, and unsought goods .
