Explain the term product item ,product line and product mix in the context of the above situation ReviewView三, |早早AaBbCcDc AaBbCcDc AaBbC AaE.三.I NormalI No Spaci... Heading 1HeadParagraphCase Study 19:Office Needs, is a small chain of distributors of good-quality office fumiture, carpets, sofas and filingcabinets. Within each category, the company offers a wide variety of products with a great manyvariations of each product being offered. For instance, the company currently offers around 42 differentdesigns of chairs and 23 varieties of office desks; The Company keeps Intouch with advances made inthe office fumiture field worldwide andintroduces those products which are in keeping with the needsof the market in tems of design. workmanship, value for money and technical specifications.Office Needs trades only in quality fumiture which is sturdily constructed. Differences between itsproducts and cheaper, lower quality ones are well knownto those who have several years of experiencein the business.An Important feature, the company feels, is the availability of a complete list ofcomponents ofthefumiture system. This enables the customer to add bits and pieces of matching designs and colour inthe future. Such components are available for sale separately, Systems are maintained in stock by thecompany for a number of years, and spare parts for chairs and other fumiture are always available.The trade is currently witnessing a downtrend due to recession and players from local unorganisedsector. Office Needs has also experienced the same over the last two years. In addition, it hadto trimthe profit margins. Last year, it barely broke even andthis yearit is hea ding for a small loss for the firsttime in the company'stenyearhistory.Questions:(a) Explain the term Product item, Pro duct line and Product mix in the context of the abovesituation. 5 MarkshpW

The Product is the predominant object which is manufactured for catering to the needs of the…

Answered: Explain the term product item ,product…

Business

Marketing

Explain the term product item ,product line and product mix in the context of the above situation

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Related questions

Q: The two types of integration for sport and non-sport products are, Select one or more: Traditional…

A: INTRODUCTION - Integration is a marketing strategy that aims to combine two or more products or…

Q: What pricing strategies should be considered when introducing a new product?

A: Corporations can use various types of pricing strategies to sell their products and services in a…

Q: Define the terms product item, product line, and product mix?

A: To keep track of the various products they make and sell to clients, many companies that sell…

Q: Please provide a clear example to explain the difference between "Brand extension" and "

A: Company will create value for customers and shareholders. It will create value for shareholders in…

Q: What is meant by a pricing strategy?

A: Price is important because it can influence whether or not a customer buys a product. After all,…

Q: Physical brands are usually packaged and labelled and packaging has long been widely considered the…

A: Marketing is the functional area of management that deals with the selling and promotion of products…

Q: Describe how each strategy differs between introduction, growth, maturity, and decline.

A: Product Introduction: In this stage, product will be introduced or launched in the market. The…

Q: Discuss all stages in Product Life Cycle and provide a real example of each stage.

A: Product Life Cycle (PLC): This concept was given by economist Raymond Vernon in 1966. The basic idea…

Q: Discuss the role of packaging and visual design in product positioning strategies

A: Product positioning refers to the strategic process of establishing a distinct and desirable…

Q: What is the opportunity for a lorry rental company? What is the Product Overview for a lorry rental…

A: In rental lorry company business is that running the transport system in the national for moving the…

Q: Examine the concepts of Product Item, Product Line, and Product Mix, and understand how they are…

A: The companies are aiming to gain more customers for their products and services. So they are…

Q: Define product line and product mix and distinguish between the two.

A: Product line: It means the category of products related to each other which are sold under the same…

Q: Compare two product of different brand but with the same specification, purpose and/or use. Identify…

A: Product class Colgate may be a well-known International corporation notable for its toothpaste,…

Q: Describe what is more important for a purchasing transaction, price timing or quality

A: Purchasing is really the act of buying to advance a company's goals.

Q: In brief , explain the main marketing tasks facing service firms these days ? Also , explain when…

A: Different organizations and industries are offering different kinds of commodities and products to…

Q: use for a product. Select the packaging best suited to your product and explain your choice

A: Marketing is the most important activity for any company along with production. It helps to create…

Q: Discuss the concepts of Product line , Product item, Product mix and explain how they are connected?

A: The goal of the businesses is to increase the number of customers who use their products and…

Q: Brands can be owned by any firm in the supply chain, whether manufacturers, wholesalers or…

A: Before getting into the question, let’s first understand the concept of brands at manufacture level…

Q: Name and briefly describe the five product mix pricing decisions.

A: Product mix pricing decisions helps in identifying prices of different product mix that a company…

Concept explainers

Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”

Question

100%

Explain the term product item ,product line and product mix in the context of the above situation

Review
View
三, |早早
AaBbCcDc AaBbCcDc AaBbC AaE
.三.
I Normal
I No Spaci... Heading 1
Head
Paragraph
Case Study 19:
Office Needs, is a small chain of distributors of good-quality office fumiture, carpets, sofas and filing
cabinets. Within each category, the company offers a wide variety of products with a great many
variations of each product being offered. For instance, the company currently offers around 42 different
designs of chairs and 23 varieties of office desks; The Company keeps Intouch with advances made in
the office fumiture field worldwide andintroduces those products which are in keeping with the needs
of the market in tems of design. workmanship, value for money and technical specifications.
Office Needs trades only in quality fumiture which is sturdily constructed. Differences between its
products and cheaper, lower quality ones are well knownto those who have several years of experience
in the business.
An Important feature, the company feels, is the availability of a complete list ofcomponents ofthe
fumiture system. This enables the customer to add bits and pieces of matching designs and colour in
the future. Such components are available for sale separately, Systems are maintained in stock by the
company for a number of years, and spare parts for chairs and other fumiture are always available.
The trade is currently witnessing a downtrend due to recession and players from local unorganised
sector. Office Needs has also experienced the same over the last two years. In addition, it hadto trim
the profit margins. Last year, it barely broke even andthis yearit is hea ding for a small loss for the first
time in the company'stenyearhistory.
Questions:
(a) Explain the term Product item, Pro duct line and Product mix in the context of the above
situation. 5 Marks
hp
W

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.

Similar questions

What are the five key price methods categories? Provide at least two explanations of unique techniques within each group.
Which process is performed when the product line has been determined?
Describe the first in, first out, last in, first out and average 4.7 cost methods of stores pricing.
Physical brands are usually packaged and labelled and packaging has long been widely considered the forth P. Using any brand of choice, exploit potential value addition provided by packaging and labelling.