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- Product & Brand Management
Assignment question:
Q1 ) (a) “Distinguish product mix vs. line decisions. Pick up three Indian firms one each from FMCG, consumer durables and automobile sector of your choice and study their product mix strategies contributing to the success of the firm.
Answer: Whether you’re involved in goods or services, your company generates revenue through marketing products: producing, promoting or distributing merchandise for consumption. Understand the relationship between the product mix and the product line or lines of a company, and how to effectively monitor this mix. The product mix includes four elements. The Width of the assortment refers to how many product lines the company markets. The Length signifies how many products a given line includes.
The term Depth touches on how many versions of a given product a line offers. Finally, Consistency denotes the uniformity relative to how products are used by consumers, or by how they are produced or distributed. For example, an automotive manufacturer could be two product lines “wide:” cars and trucks. The car line “length” could run fro
(b) Critically discuss the role and responsibilities of a product manager of a multi product consumer durable company you are attached or familiar with.
Answer:Product manager of a multi–product consumer durable company Works with the Brand Management Team developing the brand innovation and communication strategies for a product grouping(s) within a brand to build consumer demand and market share, grounded in deep consumer, product, and market understanding. Assist with developing brand strategy, pricing strategy, innovation and product portfolio management and integrated brand activation plans, overseen by direct managers.
Responsibilities of a Product Manager
Q2 ) (a) How can packaging be used as a tool for market cultivation. Cite four products from the Indian market scene where novel and innovative packaging has been used to create effective product differentiation.
Answer: Packaging is the container or wrapper that holds a product or group of products. Types of commercial packaging include shipping cartons, containers for industrial goods, and holders for consumer products. Besides protecting the product from damage and protecting consumers from hazardous products, packaging can function as a crucial marketing tool, helping companies attract new customers and retain established ones. This second function became even more important for companies in the 1990s as the reach and effectiveness of advertising began to shrink. Simultaneously, packaging makers have had to weigh the need for attractive, promotional packaging with consumer demands for environmentally
(b) While deciding on the packaging of a new premium brand of beer/coffee, what legal, social and cost aspects you would take into account?
Answer:The retail specialty coffee industry is unique in that it attracts as many admirers of the product – coffee fanatics – as it does those who are looking for a lucrative business investment, probably more. It is human nature to focus on those things that are of greatest personal interest to us, and in the case of the coffee fanatic that is all things coffee! Owning your own coffee business has mass appeal. Picture yourself as the proprietor
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