Essay on Product And Product Of Product
Product differentiation is a marketing strategy whereby business attempt to make their product unique to stand out from competitors. Business makes their products unique to gain an edge in industries where they produce products which are similar (Kotler & Keller, 2014). Methods which can also be used for business to gain edge are like low-cost strategy and advertising.an example of product differentiation a cereal like bran is packaged in two options, generic bran which is probably packaged in fairly plain packaging and Wheaties. The difference between the two is very little but Wheaties is differentiated by its packaging.
Product Line and Product Mix
Product mix is a combination of total product lines within a company. For example, a company like HUL has a number of products they produce like shampoos and soaps. The combination of all these product lines is the product mix.
Product line refers to a type of product within a company which produces a number of products (Kotler & Keller, 2014, 22). For example, a product like Nestle is made up of products like milkmaid, food products like Maggi, chocolate products like Kitkat, Thus the combination of Nestle’s product mix will be the combination of all the product lines within that company.
Branding is a process which is involved in creating a unique name and image for a certain product. Branding aims to establish significant and differentiated presence in the market that attracts and…