Length refers to the total number of products in a firm’s product mix. For example, consider a car company with two car product lines (3-series and 5-series). Within each product line series are three types of cars. In this example, the product length of the company would be six. #...
Product Line Extension: This strategy involves introducing new variations or versions of existing products to expand the product line. For example, a smartphone company may introduce different models with varying features and price points to cater to different customer segments. Product Line Pruning: Th...
The number of product lines that a firm has suggested is what is called the width of a product mix. For example, If Coca-Cola sells only juices and soft drinks, it means it has two product lines. And, if it also sells mineral water, it would mean it has three product lines. Also ...
Standard costing for fuzzy decision support information system: take product mix for an exampleTraditionally, the discussion over standard costing is focusing on: (1) prior control, its purpose is to ensure the cost of production plan to accord with the requirement of cost control, (2) posterior...
Colgate’s attempt to enter the frozen food market with “Colgate Kitchen Entrees” in the 1980s is a classic example of poor product mix strategy. The move confused consumers and failed to align with Colgate’s core brand as a dental care company. ...
Let’s now solve the following example of the product mix problem. You can find the solution to this problem in the file Prodmix.xlsx, shown in Figure 27-1. Let’s say we work for a drug company that produces six different products at their plant. Production of ...
Bundling slow-moving inventory with popular products can help move stagnant items. When you bundle a more stagnant product with a popular one, you create a new product offering, which helps freshen up your surplus or overstocked inventory. Say, for example, that you’re running a home furnish...
The constituents of marketing mix are said as marketing mix elements. Elements are also referred as decision variables. Marketing mix consists of mainly four elements. Each element is also referred as mix, for example, product mix, price mix, promotion mix, and pl...
Example: Airbnb In 2015, Airbnb redesigned its mobile app with the aim of improving the user experience, making it easier for users to find and book accommodation. One of the key changes Airbnb made was to simplify the user flow for booking a stay. Previously, users had to navigate throu...
Combining this with your Kano model analysis helps you weigh the effort and resources required against the potential impact of a feature. Take a delighter, for example.If it’s costly to implement but doesn’t significantly increase retention or revenue, it might make sense to push it back. ...