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Product Mix. Presentation Prepared By : 1)Fayez Rayyan …… 2) Mohammed Nub3a …… For :D. Maher Arafat. Product strategies. When an organization introduces a product into a market they must ask themselves a number of questions. What is the product aimed at?

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Product mix

Product Mix

Presentation

Prepared By :

1)Fayez Rayyan ……

2) Mohammed Nub3a ……

For :D. Maher Arafat


Product strategies
Product strategies

  • When an organization introduces a product into a market they must ask themselves a number of questions.

  • What is the product aimed at?

  • What benefit will they expect?

  • How do they plan to position the product within the market?

  • What differential advantage will the product offer over their competitors?


Product definition
Product definition

  • Product definition is a critical starting point in the development of any new product.

  • Product (business), an item( product/service) that ideally satisfies a market's want or need


  • Major product-mix strategies:

    Positioning, expansion (توسع), alteration (تعديل), contraction( (انكماش,. trading up and trading down(إرتِفاع وإنخِفاض في سوق التعاملات)

  • Product Mix and Product Line

    The product mixis the set of all products offered for sale by a company.

  • A product mix has two dimensions:

    • Breadth - the number of product lines carried.

    • Depth - the variety of sizes, colors, and models offered within each product line.

  • A product lineis a broad group of products, intended for(تهدف) similar uses and having similar characteristics.


Product mix strategies
Product Mix Strategies

  • Positioning the Product

    • In Relation to a Competitor

    • In Relation to a Product Class or Attribute

    • In Relation to a Target Market

    • By Price and Quality

  • Product-Mix Expansion

    • Line Extension

    • Mix Extension


Trading up and trading down
Trading Up and Trading Down

  • Trading up:Adding a higher-priced product to a line to attract a higher-income market and improve the sales of existing lower-priced products.

  • Trading down:Adding a lower-priced item to a line of prestige products to encourage purchases from people who cannot afford the higher-priced product, but want the status.


Other product mix strategies
Other Product Mix Strategies

  • Alteration of Existing Products:

    • Improve an established product with new design, new package, new uses.

  • Product-Mix Contraction(انكماش):

    • Eliminate an entire line or reduce assortment (تشكيله)within it.

    • Pruning to reduce similar brands.

    • Dump unprofitable or indistinct brands(تخلّصْ من الأصنافِ الغير مربحةِ أَو الغامضةِ.).


The product life cycle
The Product Life Cycle

  • different products will have differently-shaped life cycle curves; will diffuse(تشتهر) at different rates

  • a product is normally perceived to pass through four stages over its life cycle; introduction, growth, maturity, and decline

  • each stage requires different marketing strategies


Product life cycle stages
Product Life Cycle Stages

  • Introduction—most risky and expensive.

  • Growth—both sales and profits rise, often rapidly(كلتا المبيعات والأرباح تَرتفعانِ، في أغلب الأحيان بسرعة.) .

  • Maturity(النضج)—sales increase at a decreasing rate and profits decline(زيادة المبيعات بنسبه متناقصه,مع هبوط للارباح).

  • Decline(هبوط)— often because of another product development.


Product life cycle curve
Product Life Cycle Curve

INTRODUCTION

GROWTH

MATURITY

DECLINE

Sales Volume

Dollars

Profit

0

Loss

Time in years


Strategic implications of the stages
Strategic Implications of the Stages

  • introductory stage: developing the market, creating awareness(الوعي), reaching the innovators

  • growth stage: competition begins, sales grow quickly, profits peak(الذروة), market penetration(يخترق)

  • maturity stage: competition is intense(حادة), sales slow down, differentiated product offerings, customers are brand loyal(تصنيف الزبائن موالي وغير موالي), few new entrants(بضاعة)

  • decline stage: customers move to other options, competitors leave, profits are lowز


Characteristics of life cycles
Characteristics of Life Cycles

  • length of the life cycle will vary across markets(تختلف من سوق لأخر); some are quite short and may be getting shorter

  • Some products have very short life cycles, while other products stay at maturity for years

  • in high-tech markets, life cycles are very short

  • some products do not make it through all four stages; they may fail in introduction

  • the life cycle must be considered in relation to a specific market; stage may vary across markets


Different Life Cycles

Part a - Extended

introduction stage

Part b - Fad

Aggregate

sales

Time in years

Time in years

Part c - Indefinite

maturity stage

Aggregate

sales

Time in years


References
References

  • Product - Wikipedia, the free encyclopedia

  • Product-Mix Strategies- Karen A. Blotnicky

    (Mount Saint Vincent University, Halifax, NS)


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