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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
slide4

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
slide13

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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