Product Portfolio Product Mix Product Range ie the
















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Product Portfolio/ Product Mix/ Product Range ie the variety of products offered for sale

Why have a range of products? n n The benefits of having a wide product portfolio Target different markets Meet customers’ differing needs Spread the risk To help maximise sales and profits Those companies that have a large range of products are referred to as having an extensive product portfolio

Think of well known organisations that produce a range of products n n n Virgin Easy Disney Nike Rowntree Mac. Intosh Cadbury Schwepps

The range of products that a business may have can span from being: n very new to the market to those which are n well established

Extensive Product Portfolio? ? n the business may have one or more Product Lines = one product is used as the basis for a lot of “spin off” products Disney Coca Cola

Product Lines are important n n n Target the same customer many times, so increase sales and profits Build up trust and a relationship which encourages customer loyalty Help with launching new “products” (they are associated with the brand its reputation)

The Product Life Cycle S M £ Units D O G L D Time

(Product) Development n n stage before the launch of the product lots of testing, trial and error, market research … idea analysis prototype May be completed by the R&D department in large businesses test market alter launch

Introduction/Launch n n n Few Customers Sales low Costs high Earning a loss for the business No customer loyalty

Growth n n n Sales increasing Product becoming more well-known Often little competition at this stage

Maturity n n Sales are reaching the maximum Established market Many repeat customers Competitors evident now

Saturation n Sales peaked Top of the market Many competitors

Decline n n Sales dropping Changes in taste

Obsolescence n Product withdrawn from the market

Careful marketing can mean n That a business has a range of products at different stages of the life cycle to ensure that they can always maximise sales and profits without waiting for a new product to be developed

Make sure you can: 1 Define and Give Egs of: Product Portfolio/Range/Mix Product Line 2 Describe the benefits of having a Wide Product Portfolio and established Product Lines 3 Draw, describe, give examples and label the Product Life Cycle 4 Explain the stages in Product Development
Wide product portfolio
Product line vs product mix
What is product line depth
Portfolio design for students
As compared to long-range forecasts, short-range forecasts
Elements of product mix
Brief history of starbucks company
Product mix of samsung company
Multi unit pricing
Product line decisions
Green product meaning
Product mix width
Product mix
Product marketing mix
Pepsi vs coke marketing strategy
Product mix decisions in management accounting
Contraction of product mix