Write down product mix strategies.

1 Answer

Answer :

Ans:1)expansion of product mix,2)contraction of product mix,3)alteration of existing product,4)positioning the product,5)trading up and trading down.

Related questions

Description : Define product mix and give example?

Last Answer : Ans:A product mix is the set of all the products offered for sale by a company. The structure of product mix has width, length, length and consistency.

Description : what does the depth of product mix indicate?

Last Answer : Ans: the depth of product mix indicate that ho many varieties are offered of each product in line.

Description : What does the width of product mix indicate?

Last Answer : Ans :The width of the product mix indicate that how many product lines the company carries.

Description : Define promotion Mix?

Last Answer : Ans: : Using several different types of communication to support marketing goals which include Advertising, Personal selling, Publicity, and Sales promotions.

Description : Write down traditional channels of distribution?

Last Answer : Ans: The chain of businesses or intermediaries through which a good or service passes until it reaches the end consumer. A distribution channel can include wholesalers, retailers, distributors and even ... the good from a wholesaler. Direct channels are considered "shorter" than "indirect" ones.

Description : Define trading down?

Last Answer : Ans: Reducing the number of features (and their associated benefits) or the quality of a product to suit the selling price demanded by its customers.

Description : Define product line and give examples?

Last Answer : Ans: a product line is the set of all products that are closely related ,because they function in simile manner ,sold to same group of customers and marketed through same type of outlets .clothing is an example of product line.

Description : Define product positioning?

Last Answer : Ans: Positioning defines where your product (item or service) stands in relation to others offering similar products and services in the marketplace as well as the mind of the consumer

Description : Define product?

Last Answer : Ans: a set of tangible and intangible attributes which may include packaging ,color ,price, brand seller reputation and seller services.

Description : What are different levels of product?

Last Answer : Ans: 1) Core Product 2). Generic Product 3). Expected Product 4). Augmented Product 5. Potential Product.

Description : What is product depth concept?

Last Answer : Ans: The amount of sub-products offered by a business within a particular line of products.

Description : Differentiate between services and product marketing?

Last Answer : Ans: The difference between a product and service is firstly a product is a visible and tangible object, while a service is intangible. A product can be bought and owned while a service can be paid ... purchasing a hair product while an example of a service is paying a hairdresser to do your hair.

Description : Write formula for calculating Break-even point?

Last Answer : Ans:Break even point=total fixed cost/selling price-variable cost

Description : Write component’s of marketing information system?

Last Answer : Ans: There are four main components of MIS.1.Internanarl records.2,marketing intelligence.3.marketing research.4.marketing decision support system.

Description : what is the main problem of a marketing manager?

Last Answer : Ans: 1) Building / Managing a Sales force 2) Training the Sales force 3) Understanding the Customer situation and reporting it to the senior management.4) Making presentations to key customers / clients.

Description : What is recession?

Last Answer : Ans: A significant decline in activity across the economy, lasting longer than a few months.

Description : What is depression?

Last Answer : Ans: A severe and prolonged downturn in economic activity.

Description : Define trade discount?

Last Answer : Ans: discount offered by a manufacturer to trade channel members if they perform certain functions such as selling storing and record keeping?

Description : Define Quantity discount?

Last Answer : Ans:a price reduction to those who buy large volumes.

Description : Define notorious label?

Last Answer : Ans: A panel found on a package of food which contains a variety of information about the nutritional value of the food item.

Description : What is Descriptive label?

Last Answer : Ans: The label showing the name of the product, price per pound, total price and possibly the "sell by" date or "pull by" date.

Description : Define Grade label?

Last Answer : Ans: Product labeling that includes a quality rating for the product.

Description : Define brand label?

Last Answer : Ans.No.: a label which gives the brand name of the product.

Description : What is Family brand?

Last Answer : Ans: Marketing strategy where the same brand name is given to a number of products in order to encourage recognition.

Description : Define generic brand?

Last Answer : Ans: No-name' or non-decrepit brand that is not advertised, and is sold at a price substantially lower than the comparable branded products

Description : Define private brand?

Last Answer : Ans: A brand placed on products that a large manufacturer has created for a smaller retailer.

Description : Define Trade name?

Last Answer : Ans: a name by which a product or service is known in a particular trade or profession.,

Description : Define brand mark?

Last Answer : Ans: The proprietary combination of names, symbols, and colors that convey visually a brand’s identity.

Description : name parts of branding?

Last Answer : Ans: logo, wording, visual identity, promise ,differentiation.

Description : Define branding?

Last Answer : Ans: the marketing practice of creating a name, symbol or design that identifies and differentiates a product from other products

Description : What is retailing?

Last Answer : Ans: the activities involved in the selling of goods to ultimate consumers for personal or household consumption.

Description : What is indirect channel?

Last Answer : Ans: A way to move the product from producer to user with the help of intermediaries that perform functions related to buying or selling the product.

Description : What is direct channel?

Last Answer : Ans: Distribution channel in which a producer supplies or serves directly to an ultimate user or consumer, without any middleman (agent, distributor, wholesaler, retailer).

Description : What is automatic vending?

Last Answer : Ans: The sale of merchandise through a coin-operated machine.

Description : What is uniform delivered price?

Last Answer : Ans a price strategy in which a seller pays for shipping and charges the each customer the same price regardless of the customer location.

Description : Define variable cost?

Last Answer : Ans: a cost that varies with the level of output.

Description : What is fixed cost?

Last Answer : Ans: A cost that does not change with an increase or decrease in the amount of goods or services produced.

Description : Define demand?

Last Answer : Ans: The amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price.

Description : Define re use packaging?

Last Answer : Ans: a package that can serve others purposes after the original contents have been consumed e.g liter Bottles of soft drink later can be used to serve water.

Description : What is package copy?

Last Answer : Ans: Written material on product on which the information of the product is displayed should always be mentioned e.g medicine packages.

Description : What is NOISE?

Last Answer : Ans: Price and volume fluctuations in the market that can confuse one's interpretation of market direction. Used in the context of equities, it is stock market activity caused by program trading, ... or other phenomena that is not reflective of overall market sentiment. Also known as "market noise

Description : Explain Break even point?

Last Answer : Ans: the point at which gains equal losses.

Description : Define training?

Last Answer : Ans: the action of teaching a person or animal a particular skill or type of behavior.

Description : Define price?

Last Answer : Ans:amount charged for products or services.

Description : What is business analysis?

Last Answer : Ans:a comprehensive study of market for a new product is called business analysis.

Description : What is test marketing?

Last Answer : Ans; test marketing involves how large the market is and how consumers and dealers react to handling using and repurchasing the product.

Description : What is go error?

Last Answer : Ans: t occurs when a company adopts poor ideas.

Description : What is drop error?

Last Answer : Ans: it occurs when the company dismisses a good idea.

Description : What is screening?

Last Answer : Ans: idea screening is the second stage in new product development once a large pool of ideas has been generated by what ever their means their number have to be pruned to manageable level.

Description : What is demography?

Last Answer : Ans: The statistical study of human population and its distribution is called demography.