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WorksheetsProduct Mix
Total questions: 50
Worksheet time: 29mins
The marketing decisions that are made for all products.
Marketing mix
Marketing
Market research
Branding
Giving a product a distinct and recognizable identify.
Marketing mix
Branding
Brand loyalty
Packaging
A factor about a product that competitors’ products do not have.
Brand loyalty
Four Ps
Unique selling position (USP)
Marketing mix
Identifying customer wants and satisfying them profitably.
Market research
Marketing mix
Marketing
Branding
The right product at the right price with the right promotion in the right place.
Four Ps
Marketing
Market research
Product
The special feature of a product that differentiates it from the products of competitors.
Product
Four Ps
Brand image
Unique selling position (USP)
The goods and services produced to satisfy a customer need or want.
Product
Service
Good
Marketing
The physical container or wrapping for a product. It is also used for promotion and selling appeal.
Product
Brand name
Packaging
Producer good
An image or identity gives it a personality of its own and distinguishes it from its competitors’ brands.
Brand image
Brand name
Brand image
Unique selling position (USP)
The process of gathering, analysing and interpreting information about a market.
Marketing
Market research
Marketing mix
what is this
toyota
mabuza
infinti
What This Logo
MacDonald's
DonaldMac's
Burger King
Pizza Hut
what logo is this?
snapchat
Mountain Dew is an example of
A logo
A brand name
A trade character
1. What is a product mix?
Companies goals only
The particular assortment of products a business offers to meet its market’s needs and its company’s goals
Needs of the market only
One product
2. What is a product item?
Two-liter bottle of Sun Drop
Pair of Ariat boots
Travel-agent certification course
Bottle of Dawn dish liquid
3. What is a product line?
Group of related product items.
One product item.
Where can you see product items?
Select areas
Everywhere
Only at home
Only at school
4. How do companies classify product lines?
Product Class
Customer Group
Price/Quality
Distribution Method
Most businesses use which 4 dimensions to describe their product mixes?
Width
Depth
Length
Long Product Mix
Consistency
6. Why are product-mix decisions so important?
• Appealing to the target market
• Helping to present a consistent company image
• Affecting profitability
• Helping deal with competition
Why would a company use an expansion product-mix strategy?
• To satisfy customers’ desire for variety
• To offer customers complementaryproducts/• To make more efficient use of company facilities
• To spread risk over a wider area
• To increase sales and profits/• To enhance the company’s reputation
• To appeal to a new market
2. What are the disadvantages of an expansion strategy?
increases costs of inventory, marketing, transportation, storage, and personnel
. If the new products are more complex or sophisticated, the sales staff may require additional training to sell them
Increase sales and profits
Appeal to a new market
Why would a company use a contraction product-mix strategy?
• It has lost its appeal to customers.
• It is no longer appropriate to the company’s goals./• It is no longer profitable.
• It conflicts with another product in the mix.
• Its production has become a problem.
• It has become a legal liability.
What are the disadvantages of a contraction strategy?
It increases market risk—the fewer products or lines a company has, the greater the financial risk to the company if one of them fails.
Competitors may also step in to provide the products and draw away customers.
a negative effect on salespeople who are trying to serve customers loyal to the discontinued products.
damage customer goodwill
Why would a company use an alteration product-mix strategy?
• To limit costs
• To keep up with changing consumer preferences/• To compete effectively
• To reach a different target market
• To reach a larger market
• To improve products for social good
What are the disadvantages of an alteration strategy?
It can be quite expensive
competitors have a chance to observe the changes and alter their own products accordingly
Not all products can be altered
If consumers have been satisfied with the product as it is, they may not continue to buy it if the changes do not appeal to them
Most companies prefer to try alteration before deciding to delete a product or line from the mix.
True
False
Why would a company use a trading-up product-mix strategy?
• To enhance company image
• To increase sales of the company’s other products
• To attract a new target market
Not Sure
What are the disadvantages of a trading-down strategy?
firm’s reputation for high quality may be damaged by the addition of a lower quality item to its product mix
consumers may be confused about the new product or line
; profits from the cheaper product may be eroded by reduced sales in the more expensive line
dealers may not be willing to add the lower priced product to their offering
the competition may become stronger at the high end of the market.
Why would a company use a trading-down product-mix strategy?
• To attract a new target market
• To meet the competition
-To improve products for social good
Not Sure
What are the disadvantages of a trading-up strategy?
sales of established products may decline
must be careful that present customers are not lost in the process of gaining new ones
Customers may become confused as to what the company’s image is meant to be
may refuse to believe that better quality merchandise can be purchased from a business that had formerly sold budget goods
Not sure
For the selection of products at the right location with the right timing, what exactly do marketers ask themselves:
Offering the warranty benefits
Packing of product
Product Availability
Payment acceptance method
Identify which of the concept is involved in the product of T-Shirts
Product
Price
Place
Promotion
