how can a company build and manage its product mix and product lines?
TRANSCRIPT
STRATEGY
Setting
Chapter 11
HOW can a company build and
manage its product mix
and product line?
PRODUCT MIX
It is the set of all products
and items a particular
seller offers for sale
EX:
UNILEVER manufacture many types
of products under its name by
different brands.
PRODUCT LINE
A product line
manufactures a particular
type of product from the
set of many products.
HEWLETT PACKARD manufactures
laptop, mobile phones and PC’s.
Each of which has a different
product line.
What are the ways of
managing product mixes?
1. Adding new products lines, thus widening
its product mix.
SAMSUNG has many product lines
within its product mix. It produces
mobile phones, televisions, fridge,
washing machines etc. each having
a different product line.
1. Adding new products lines, thus widening
its product mix.
2. Company can lengthen its product line.
For ex: Televisions
SAMSUNG keeps on lengthening its
product line by introducing LED, LCD, plasma,
Smart range in its television product line.
1. Adding new products lines, thus widening
its product mix.
2. Company can lengthen its product line.
3. Deepening its product mix. Adding more
products variants to each product which
can be up-market, down-market or both of
them.
For ex: Mobile Phones
SAMSUNG keeps on introducing its new
mobile phones thus deepening its product line.
1. Adding new products lines, thus widening
its product mix.
2. Company can lengthen its product line.
3. Deepening its product mix. Adding more
products variants to each product which
can be up-market, down-market or both of
them.
4. Company can pursue more product line
consistency.
These slides were created by Ankit Kumar, IIT
Delhi, during a Marketing internship by Prof.
Sameer Mathur, IIM Lucknow