What is product mix according to Philip Kotler?

What is product mix according to Philip Kotler?

Product mix of a company is made of all product lines and items. It includes the total number of varieties or models offered by the company. Let us define the term: Philip Kotler: “A product mix is the set of all product lines and items that a particular seller offers for the sale to buyers.”

What is 7ps of marketing mix PDF?

It’s called the seven Ps of marketing and includes product, price, promotion, place, people, process, and physical evidence.

What is the product mix?

A product mix is the total number of product lines and individual products or services offered by a company. Additionally referred to as product assortment or product portfolio. Product mixes vary from company to company. Some have multiple product lines with lots of products in each line.

What are the 4 elements of the product mix?

The 4Ps are:

  • Product (or Service).
  • Place.
  • Price.
  • Promotion.

What are the 4ps of marketing as defined by Philip Kotler?

The Four Ps stand for ‘product’, ‘price’, ‘place’ (i.e., distribution) and ‘promotion’ (i.e., advertising).

What are the product mix strategies?

The major product mix strategies (given by William Stanton and others) have been discussed briefly as under:

  • Expansion of Product Mix.
  • 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.

What is product in 7Ps of marketing mix?

Product refers to anything that’s being sold – a physical product, service or experience. No matter how you position yourself as a brand, your product or service is always going to be at the centre of your strategy and therefore it will influence every aspect of the marketing mix.

What is product mix and example?

Product Mix, another name as Product Assortment, refers to several 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.

What is product mix Wikipedia?

Product mix, also known as product assortment, is the total number of variety of products that a firm sells to their customers. It measures the total number of product lines.

What are the key factors for product mix?

Product Mix: Top 10 Factors Affecting Product Mix

  • Profitability: Every business unit tries to maximize its profits.
  • Objectives and Policy of Company: Company frames its product mix to achieve its objective.
  • Production Capacity:
  • Demand:
  • Production Costs:
  • Government Rules and Restriction:
  • Demand Fluctuation:
  • Competition: