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: 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: define the stages of the product life cycle.Do all products follow this pattern? Explain.

A: A product is an item that is manufactured by the company for the purpose of selling and earning…

Q: Which Stage of the Product Lifecycle Would You Describe?

A: The term product life cycle refers to the length of time a product is introduced to consumers into…

Q: Using a graph, discuss the phases of a product life cycle

A: The objective of this question is to understand the different phases of a product life cycle and how…

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: Product Life Cycle

A: The need to know what stages of the Product life Cycle its products are in to decide the marketing…

Q: Answer the following. • what is the detailed definition of single product? • what is the detailed…

A: A single product is a distinct item within a manufacturer's product mix that is distinguished by…

Q: Explain the difference between a product line and a product mix and provide examples to illustrate…

A: Product is outlined as something that's offered to the public for purchase by the corporate. There…

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: Describe the stages of the product life cycle and the marketing strategies associated with each…

A: Please find the answer below.MARKETING STRATEGY:Marketing strategy refers to an organization's…

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: Give an example of the Product Life Cycle of a product (explain in detail each stage from…

A: To understand the concept of Product Life Cycle, we will take the example of the company Nokia which…

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,…

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 is the difference of price and cost? From (a) point of view of a customer; and (b) point of view of the manufacturer. Provide a concrete example for each.
Name the categories into which new products are grouped?
In brief , explain the main marketing tasks facing service firms these days ? Also , explain when does product line stretching happens ? Give examples ?
There are several types of packaging to use for a product. Select the packaging best suited to your product and explain your choice.
Discuss the concepts of Product line , Product item, Product mix and explain how they are connected?
Brands can be owned by any firm in the supply chain, whether manufacturers, wholesalers or retailers. There are two basic brand ownership strategies: manufacturer brand and retailer/store brand. Explain the different between those two brands ownership strategies and give example for each.
Name and briefly describe the five product mix pricing decisions.
Which process is performed when the product line has been determined?
Changes at each stage of the Product Life Cycle (PLC) greatly affect the implementation of the marketing mix strategy of a product or service. Discuss each marketing mix strategy in relation to the changes in each stage of PLC.
What are the benefits of product line extension ?
Name the two general categories in which products can be grouped?
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.