Question

Describe the decisions companies usually take regarding their individual products and services, product lines, and product mixes

Answer 1

Answer

Specific product choices require the characteristics of the company, naming, pricing, advertising, and support services. Product attribute decisions include quality of the product, features, and style and design. Branding choices require picking a company name and setting up a marketing plan. Packing provides many primary advantages, including defense, growth, comfort, and promotion. Package choices also involve creating logos that define the product, explain it and likely encourage it. Companies are now designing product support systems to boost customer experience and loyalty, and to hedge against competition. Many businesses manufacture a series of products rather than having a single product. A product line is a category of goods relevant to feature, customer-purchase requirements, or networks of distribution. All the product lines and products that a single retailer sells to consumers shape the product mix. There are four dimensions that can characterize the mix: distance, weight, depth and consistency. Such measurements are instruments for designing the marketing plan of the organization.

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