The product mix incorporates four normal components: Length, depth, breadth, and consistency.
In this post
What are the types of product mix?
6 types of Product Mix pricing to push products in the market
- Let us discuss each type of product mix pricing in detail.
- 1) Product line pricing.
- 2) Optional feature pricing.
- 3) Captive product pricing.
- 4) Two part pricing.
- 5) By Product pricing.
- 6) Product bundling pricing.
What are the 4 elements of the product mix?
The 4Ps are:
- Product (or Service).
- Place.
- Price.
- Promotion.
What is an example of a product mix?
For example – if a company produces only soft drinks and juices, this means its mix is two products wide. Coca-Cola deals in juices, soft drinks, and mineral water, and hence the product mix of Coca-Cola is three products wide.
What are product mix dimensions Mcq?
What are product mix dimensions? (1) Number of different product lines in the mix. (2) Total number of items carried in each product line. (3) Number of versions offered of each product in a product line.
What are the 5 product mix strategies?
Five product mix pricing situations
- Product line pricing – the products in the product line.
- Optional product pricing – optional or accessory products.
- Captive product pricing – complementary products.
- By-product pricing – by-products.
- Product bundle pricing – several products.
What are the three types of product?
Types of Products – 3 Main Types: Consumer Products, Industrial Products and Services. There are a number of useful ways of classifying products. One of the most basic way was the different ways of making a journey.
Is a element of product mix?
The product mix includes four common elements: Length, breadth, depth and consistency.
What are the 4 types of marketing?
The four Ps of marketing—product, price, place, promotion—are often referred to as the marketing mix. These are the key elements involved in planning and marketing a product or service, and they interact significantly with each other.
Which of the following is not a component of product mix?
List price is not a part of product in marketing mix; it is the part of price mix. Was this answer helpful?
What are the 3 product mix strategies?
PRODUCT MIX STRATEGY
- Expansion of Product Mix. Expansion of product mix implies increasing the number of product lines.
- Contraction of Product Mix.
- Deepening Product Mix Depth.
- Alteration or Changes in Existing Products.
- Developing New Uses of Existing Products.
- Trading Up.
- Trading Down.
- Product Differentiation.
Why is the product mix important?
Importance Of Product Mix
Product mix helps determine in which direction your company is heading, and the data accumulated by it helps you determine where you want to lead the company. It also helps you to be consistent with your targeted customers.
What is product mix decision?
Product mix decision refers to the decisions regarding adding a new or eliminating any existing product from the product mix, adding a new product line, lengthening an existing line, or bringing new variants of a brand to expand the business and to increase the profitability.
What is marketing mix Mcq?
Marketing Mix MCQs
Marketing mix is defined as the set of activities or strategies that a company or business uses for promoting its products and services in the market. The 4P’s make up the typical marketing mix and it includes Product, Place, Price and Promotion.
What is product mix length?
The length of the product mix refers to the total number of items in its product mix. For example: P&G typically carries many brands within each line It sells eight laundry detergents, six.
What is product/service 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. A product mix consists of product lines, which are associated items that consumers tend to use together or think of as similar products or services.
What are the types of marketing mix?
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.
What are the 4 types of pricing methods?
There are 4 Pricing Methods that can help you put a price on what you sell: replacement cost, market comparison, discounted cash flow/net present value, and value comparison.
What is product mix and price mix?
Price mix is the combination of different ‘price-related variables’ determined by a producer to fix the price of the product or service he offers. These variables include the cost of making the product, the factors that influence the pricing decisions, the various pricing strategy, the pricing objectives, etc.
What are 5 examples of products?
Examples of shopping products
- Computers.
- Mobile phones.
- Entertainment equipment, such as an Xbox or PlayStation.
- Cameras.
- Household furniture.
- Washing machines and dishwashers.
- Clothing.
- Sports equipment.
What are the 7 types of products?
Types of Product – Goods, Services, Experiences, Convenience, Shopping, Specialty Goods, Industrial Goods and Consumer Goods.