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Marketing Management Philip Kotler Pdf Free Download In marketing, a company's line of goods and services is called the product. A company's "product mix" or "range of products" is its selection of goods and services that it offers to the market. In the marketing process, the product mix is a list of products determined by marketers, which they offer for sale to buyers. The term may also refer to a range of qualities produced by one maker which are intended for different buyers or groups in society. This article talks about how marketers create a product mix and what goes into it so marketers can plan out their next steps in developing new products as well as bringing their old ones back into production. Marketers typically develop a product mix based on their target market, or the segment of the market they will be serving with their good or service. The product mix can therefore vary across different segments of the market. For example, cereal makers General Mills and Kellogg's might segment the cereal-consuming population into adults, children, health-conscious people and pet owners. This would allow them to include or exclude certain products in their ranges depending on how likely it is that these individual segments would buy them. For example, General Mills offers four different varieties of cereal targeting adults. These cereals are Cheerios, Wheaties, Raisin Bran and Total. It also offers two breakfast cereals for children: Cocoa Puffs and Lucky Charms. It has four healthy cereal options for health-conscious consumers: All-Bran Original, Nature Valley Granola, Fiber One Original and Special K Chocolatey Delight. Finally it targets pet owners with three different products; Doggie Crack (crispy dog snacks), Kibbles 'n Bits (bite-sized bits of real meat) and Mighty Dog (a complete dog food). The company also offers several snack foods for children. These include Fruit2O (drinks with fruit juice powder), Babybel (honey-roasted cheese), Chef Boyardee's Homestyle Pizza or Ravioli, DiGiorno or Nestle's Stouffer's Frozen Dinners. The company also offers high-end products which are priced at over $5, such as its Wines & Spirits, Chocolates & Sweets and Snacks & Sweets categories. These higher priced products are targeted to health-conscious people who are willing to pay more for better quality food. Finally, General Mills also offers several varieties of cereal for pet owners. These are usually formulated with protein, for example Kibbles 'n Bits or Mighty Dogs. Kellogg's is an example of a company that has created a product mix where there are many options for different consumer groups. Consumer research can be conducted in different ways, depending on the objective of the study, the type of target market you are interested in and whether it is intended to create awareness or actual purchase decisions. A survey conducted based on existing knowledge about consumers' likes and dislikes may show limited results; however, a survey performed to predict future behavior can yield more results because it identifies potential trends and patterns in observed behaviors. cfa1e77820