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Handwritten Notes, Paper 1, , Paper 2, (Management), , Soft Copy, , ₹ 100, , ₹ 300, , Hard Copy, , ₹ 150, , ₹ 450, , Call or Whatsapp for Notes : 7627096162, Note : Paper 1 includes 7 units except Comprehensions, Numerical Reasoning, and Data Interpretation because these units are practice based and theoretical, part of these units is covered in notes., For hard copies postal/courier charges are separate.

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Product Mix, Product mix, also known as product assortment, refers to the total number of product lines that a, company offers to its customers. The product lines may range from one to many and the company, may have many products under the same product line as well. All of these product lines when, grouped together form the product mix of the company., The product mix is a subset of the marketing mix and is an important part of the business model of a, company. A company’s product mix has a certain components such as :,  Width,  Length,  Depth,  Consistency

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Product Mix, Width : The width of the mix refers to the number of product lines the company has to offer., For example – if a company produces only soft drinks and juices, this means its mix is two, products wide. Coca-Cola deals in juices, soft drinks, and mineral water, and hence the product mix, of Coca-Cola is three products wide., Length : The length of the product mix refers to the total number of products in the mix., That is if a company has 5 product lines and 10 products each under those product lines, the length, of the mix will be 50 [5 x 10].

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Product Mix, Depth : The depth of the product mix refers to the total number of products within a product line., There can be variations in the products of the same product line., For example – Colgate has different variants under the same product line like Colgate advanced,, Colgate active salt, etc., Consistency : Product mix consistency refers to how closely products are linked to each other. Less, the variation among products, more the consistency., For example, a company dealing in just dairy products has more consistency than a company dealing, in all types of electronics.

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Consumer Adoption Process, Adoption is an individual’s decision to become a regular user of a product and is followed by the, consumer-loyalty process. New-product marketers typically aim at early adopters and use the theory, of innovation diffusion and consumer adoption to identify them., Stages in the Adoption Process :, 1., 2., 3., 4., 5., , Awareness — The consumer becomes aware of the innovation but lacks information about it., Interest — The consumer is stimulated to seek information about the innovation., Evaluation — The consumer considers whether to try the innovation., Trial — The consumer tries the innovation to improve his or her estimate of its value., Adoption — The consumer decides to make full and regular use of the innovation.

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Factor influencing Adoption Process, Marketers recognize the following characteristics of the adoption process: differences in individual, readiness to try new products, the effect of personal influence, differing rates of adoption, and, differences in organizations’ readiness to try new products.,  Readiness to Try New Products And Personal Influence : Rogers defines a person’s level of, innovativeness as “the degree to which an individual is relatively earlier in adopting new ideas, than the other members of his social system.”,  Characteristics of the Innovation : Some products catch on immediately, whereas others take a, long time to gain acceptance.,  Organizations’ Readiness to Adopt Innovations : The creator of a new teaching method would, want to identify innovative schools. Adoption is associated with variables in the organization’s, environment (community progressiveness, community income), the organization itself (size,, profits, pressure to change), and the administrators (education level, age, sophistication).

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Adopter Group in Adoption Process,  Innovators are technology enthusiasts; they are venturesome and enjoy tinkering with new, products and mastering their intricacies. In return for low prices, they are happy to conduct alpha, and beta testing and report on early weaknesses.,  Early adopters are opinion leaders who carefully search for new technologies that might give, them a dramatic competitive advantage. They are less price sensitive and willing to adopt the, product if given personalized solutions and good service support.,  Early majority are deliberate pragmatists who adopt the new technology when its benefits are, proven and a lot of adoption has already taken place. They make up the mainstream market.,  Late majority are skeptical conservatives who are risk averse, technology shy, and price, sensitive.,  Laggards are tradition-bound and resist the innovation until the status quo is no longer, defensible.

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Adopter Group in Adoption Process

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