3.how can company build and manage its product mix and product lines
How can a company build and manage its product mix and product lines
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Transcript of How can a company build and manage its product mix and product lines
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Chapter 11: Setting product strategy
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How can a company build and manage its product mix and product lines?
By: Kartik SinglaIndian Institute of Technology(BHU), Varanasi
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Product lineA group of products manufactured by a company that are closely related because they perform a similar function, sold to same customer groups or fall
within a price range.
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Product MixThe complete set of all products and items a company offers for sale.
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Managing
product mix
Width
LengthDepth
Consis-tency
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Depth: The number of variants offered of each product in a product line.
Width: Number of product lines a company has.
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Consistency: This describes how closely related the various product
lines are.
Length: The total number of items in a company’s product mix.
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How to build product mix???
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Lengthen each line
Increase product variants
Pursue line consistency
Add product lines
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Line analysis
Line length
Sales and
Profit
Market Profile
Line Stretching
Line Filling
Managing Product Line
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Managing “Sales and Profit” can help determine which items to build,
maintain, harvest or divest.
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Product line managers must review how the line is positioned against competitor’s line to
enhance “Market Profile”
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“Line Stretching” refers to lengthening the product line beyond its current range (whether up or down) to attract buyers from all segments.
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“Line Filling” means adding more items within the present range to keep out
competitors and ensure tight grip in the market.
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“Some companies which narrowed down the consumer need gaps by introducing
new product variants and forms!!”
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“These slides were prepared by ‘Kartik Singla’
as a part of an internship done under ‘Prof. Sameer Mathur’ (www.IIMInternship.com).”
Disclaimer