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As mentioned above, the width of product mix is referred to as the total number of product lines that the company offers. A diversified product mix can target the maximum number of customers, however, such numbers of product lines requires much attention and focus as each product line targets different groups of consumers and involves individual strategy and management.
Stock mix or Product mix is the combination of products a company sells or manufactures. The product mix is determined by the demand for certain products and the profitability of those products. [1] There are companies like Pepsi and Coca-Cola that have a very large and diverse product mix.
Product management (e.g. unique selling proposition, product mix, perceptual mapping, product life cycle management and new product development, branding; product portfolio analysis: BCG analysis,contribution margin analysis, GE multifactorial analysis, quality function deployment) Segmented marketing actions and market share objectives
Determination of the required product mix and factory load to satisfy customers needs. [3] Matching the required level of production to the existing resources. [4] Scheduling and choosing the actual work to be started in the manufacturing facility" [1] Setting up and delivering production orders to production facilities. [5]
The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to advertise the product, [7] [8] is affected by the environment surrounding the product, [9] the results of marketing research and market research, [10] [11] and the characteristics of the product's target market. [12]
A product refers to an item that satisfies the consumer's needs or wants. Products may be tangible (goods) or intangible (services, ideas, or experiences). Product design – features, quality; Product assortment – product range, product mix, product lines; Branding; Packaging and labeling
Distribution of products takes place through a marketing channel, also known as a distribution channel. A marketing channel is the people, organizations, and activities necessary to transfer the ownership of goods from the point of production to the point of consumption. It is the way products get to the end-user, the consumer.
The output is a product portfolio description, which includes a list of current and future products and also a product roadmap. It can be argued whether phase 1, product management, is part of the product-family-engineering process, because it could be seen as an individual business process that is more focused on the management aspects instead ...