Marketing product mix

• Product


  Anything that is offered to a market for attention, acquisition, use or consumption that might satisfy a need or want. Includes physical objects, services, persons, places, organizations and ideas.
• Product


  A set of tangible and intangible attributes, including packaging, color, price, quality and brand plus the seller's reputation.
• Classification of products

  • Durable goods
  • Non-durable goods
  • Services
• Classification of products

  • Consumer goods
  • Industrial goods
• Classification of consumer goods

  • Convenience goods
  • Specialty goods
• Classification of industrial goods

  • Raw materials
  • Manufactured parts
  • Installations
  • Accessory equipment
  • Operating supplies
• Product line


  A group of products that are closely related, intended for similar uses and having similar physical characteristics
• Product mix


  The set of all product lines offered for sale, no matter how unrelated they may be
• Product mix strategies


  • Product positioning
  • Product mix expansion
  • Trading up & trading down
  • Product alteration
  • Product mix contraction
• Product positioning


  • Positioning in relation to a competitor
  • Positioning in relation to a product class
  • Positioning in relation to target market
  • Positioning by price & quality
• Product mix expansion


  • Product line extension
  • Product mix extension
• Trading up & trading down

  • Trading up
  • Trading down
• Product alteration


  Improvement of an existing product to give them a new appeal
• Product mix contraction


  Simplifying the assortment within a product line or eliminating an entire product line
• Brand name


  A verbal part of the brand which consists of words, letters and numbers that can be uttered
• Brand mark


  The part of a brand that appears in the form of a symbol, a design, coloring or lettering. Cannot be uttered or vocalized
• Trademark


  A brand that is given legal protection. A brand that is appropriated to one seller
• Characteristics of a good brand name

  • Suggestive of the product's characteristics
  • Easy to pronounce, spell and remember
  • Distinctive
  • Adaptable to new products that may be added to the product line
  • Capable of being registered and legally protected
• Packaging


  Refers to all activities of designing and producing container or wrapper for a product