product mix, also known as product assortment, is the total number of product lines that a company offers to its customers. expansion of product mix implies increasing the number of product lines. for example, bajaj company adds car (unrelated expansion) in its product mix or may add new varieties in two wheelers and three wheelers. contraction consists of dropping or eliminating one or more product lines or product items. if hindustan unilever limited decides to eliminate particular brand of toilet shop from the toilet shop product line, it is example of contraction. here, a company will not add new product lines, but expands one or more excising product lines. instead of developing completely a new product, marketer may improve one or more established products. this product mix strategy concerns with finding and communicating new uses of products.
trading up consists of adding the high-price-prestige products in its existing product line. the new product is intended to strengthen the prestige and goodwill of the company. the trading down product mix strategy is quite opposite to trading up strategy. consumers can buy the high status products of famous company at a low price. product differentiation involves establishing superiority of products over the competitors. company can communicate the people the distinct benefits of its products. these constitute the width of the product mix. they constitute the depth of the product line ‘minute maid’.
new lines may be related or unrelated to the present products. for example, bajaj company adds car (unrelated expansion) in its product mix or may add new varieties in two wheelers and three wheelers. contraction consists of dropping or eliminating one or more product lines or product items. here, fat product lines are made thin. if hindustan unilever limited decides to eliminate particular brand of toilet shop from the toilet shop product line, it is example of contraction. here, a company will not add new product lines, but expands one or more excising product lines. instead of developing completely a new product, marketer may improve one or more established products. improvement or alteration can be more profitable and less risky compared to completely a new product. this product mix strategy concerns with finding and communicating new uses of products.
no attempts are made to disturb product lines and product items. trading up consists of adding the high-price-prestige products in its existing product line. the new product is intended to strengthen the prestige and goodwill of the company. by trading up product mix strategy, demand of its cheap and ordinary products can be encouraged. a company producing and selling costly, prestigious, and premium quality products decides to add lower- priced items in its costly and prestigious product lines. consumers can buy the high status products of famous company at a low price. this is a unique product mix strategy. product differentiation involves establishing superiority of products over the competitors. company can communicate the people the distinct benefits of its products.
a successful product mix strategy enables a company to focus efforts and resources on the products and product lines within its offerings that have the greatest 1. expansion of product mix 2. contraction of product mix 3. deepening product mix depth 4. alteration or changes in existing products 5. 1. expansion of product mix: 2. contraction of product mix 3. deepening product mix depth 4. alteration or changes in existing products 5. developing new, product mix strategies pdf, product mix strategies pdf, what are the 5 product mix strategies?, product line strategies, contraction of product mix example.
there are four product mix strategies to scale any business namely depth, width, length and consistency. difference between product mix and, product line strategies with examples, product mix example, product mix strategies ppt, types of product mix. what are the various strategies of product mix? what are the four main product mix strategies? what are the 3 product strategies? what are the different strategies which companies can use for product mix optimization?
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