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Question
Answer the question.
Meaning and Elements of Product Mix.
Solution
Product mix refers to the total number of products and items that a business firm offers to the market. It involves decisions concerning the quality; size, range, page. brand name, label, services. It also involves planning, developing and producing the right type of products and sendees to be marketed by the organization.
It includes :
- Branding: Branding is the process of assigning a distinctive name or symbol to a product by which it is to be known and remembered.
- Packaging: Packaging refers to covering, wrapping, crating, filling or compressing of goods to protect them from spoilage, breakage, leakage, etc.
- Labeling: Labelling refers to designing the label and putting it on the package. A label is a small slip placed on the product to denote its nature, contents, ownership, destination, etc.
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Read the case given below and answer the questions that follow:
| Pooja has started a small company that manufactures steel and aluminium rods used by construction firms. She has made a large capital investment in this venture and also hired an excellent sales team. Their marketing approach is to contact the buyers directly and explain the features of their product. They have a complete control over the distribution of their products. |
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Identify the element of Promotion Mix used in the image shown below.
