product mix

Examples of product mix in the following topics:

• Product Line Breadth

  • The breadth of the product mix consists of all the product lines that the company has to offer to its customers.
  • The product mix breadth is five.
  • The product mix (sometimes called "product assortment") is made up of both product lines and individual products.
  • This means that the product mix breadth is five.
  • Describe the relationship between product line breadth and the product marketing mix

• A Brief Definition

  • Promotion – how the producer communicates the value of its products – is one of the market mix elements.
  • Promotion – how the producer communicates the value of its products – is one of the market mix elements.
  • There are five elements an organization may choose to include in its promotional mix or promotional plan.

• Characteristics of the Product

  • The unique characteristics of a product should be used as inputs in determining the product's marketing mix.
  • Product characteristics help determine the marketing mix, potential target market and the pricing of a product.
  • Characteristics of a product also help to determine the price of a product.
  • It is the combination of demand for a product and its price that help determine the marketing mix.
  • Examine how the characteristics of a product impacts the selection of a promotional mix

• The Marketing Mix

  • The marketing mix is used to reach a target market and is often referred to as the "four Ps" of marketing: product, price, promotion, and place.
  • The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place.
  • The marketer must also consider the product mix.
  • Marketers can expand the current product mix by increasing a certain product line's depth or by increasing the number of product lines.
  • Marketers should consider how to position the product, how to exploit the brand, how to exploit the company's resources, and how to configure the product mix so that each product complements others.

• Mixed Economies

  • While there is no single definition of a mixed economy, it generally involves a degree of economic freedom mixed with government regulation of markets.
  • Most modern economies are mixed, including the United States and Cuba.
  • In general, most of the means of production in a mixed economy are privately owned.
  • The mostly private ownership of all means of production allows the market to quickly respond to changing circumstances and economic factors.
  • Generally, individuals in mixed economies are able to:

• Promotional Objectives

  • There are three main promotional objectives: inform the market, increase demand, and differentiate a product.
  • The promotion mix is an element of the marketing mix.
  • Eventually a product will reach its saturation point, at which time investing in sales will decrease as the company focuses its attention on a new product.
  • Present information about the product: In order for customers and consumers to want the product they need to understand what the product is and how it benefits them.
  • Information about the product will differ depending on the specific target market.

• Creating a Marketing Mix

  • To do so, managers use a technique called the "Marketing Mix" (commonly called the four P´s):
  • Product: What is the product or satisfactor that best fulfills my customer's needs?
  • Price: What should be the appropriate price for this product that allows it to compete with other products in the same segment or substitute products?
  • The key is to choose a marketing mix that is efficient.
  • State the information to consider when deciding on a marketing mix

• Mixed Economies

  • It consisted of a three core policy initiative: protecting industry through high tariffs (1861–1932), government investment in infrastructure through internal improvements, and a national bank to promote the growth of productive enterprises.
  • While there is not one single definition for a mixed economy, the definitions always involve a degree of private economic freedom mixed with a degree of government regulation of markets.
  • Economies ranging from the United States to Cuba have been termed mixed economies.
  • Restrictions are sometimes placed on private mail systems by mixed economy governments.
  • Outline the plan behind and what governments provide in a mixed economy

• The Promotion Mix

  • There are five (sometimes six) main aspects of a promotional mix: Advertising, Personal selling, Sales promotion, Public relations, and Direct marketing.
  • There are five (sometimes six) main aspects of a promotional mix .
  • Examples: Coupons, sweepstakes, contests, product samples, rebates, tie-ins, self-liquidating premiums, trade shows, trade-ins, and exhibitions.
  • Corporate image may be considered as a sixth aspect of promotion mix.
  • New Media is also sometimes considered an element of the promotion mix.

• The Disadvantages of Mixed Economies

  • The disadvantages of mixed economies can be understood through examining criticisms of social democracy.
  • One disadvantage of mixed economies is that they tend to lean more toward government control and less toward individual freedoms.
  • In addition, unsuccessful regulations may paralyze features of production.
  • Another negative is that the government decides the amount of tax on products, which leads to people complaining about high taxes and their unwillingness to pay them.
  • Examine the criticisms of social democracy as a vessel to understanding the disadvantages of mixed economies.