09 Jun PLEASE PROVIDE FEEDBACK TO THE FOLLOWING POST…RESPONSE MUST BE 75-100 WORDS!!! Discuss in detail
PLEASE PROVIDE FEEDBACK TO THE FOLLOWING POST…RESPONSE MUST BE 75-100 WORDS!!!
- Discuss in detail product mix width and product line depth and how they are relevant for marketers.
Product Line Depth refers to the sheer number of products in a company's specific product line, such as a large amount of different kinds of toothpaste under Crest's banner and logo. Product Mix Width refers to the amount of product lines a company has, such as DeWalt sells all kinds of power tools, lawnmowers, and other various things. They would not have much width if they just sold drills or just lawnmowers, but they have a lot of product mix depth as they have so many various products within the same line of "outdoors work." Both are very relevant for marketers as it allows them to have more target audiences. If a company sold just power drills instead of having a good product mix width, they now miss out on all the people out there that want a power drill as well as a hammer or wrench. They could also sell them in packs so more people would purchase all of their tools/products for cheaper and still earn the company money. While if a company has a bad product line depth, the company would be missing out on other target people. In the case of Crest, if they just sold a single kind of mint toothpaste, then they would be missing out on all the people who maybe hate the flavor mint or have sensitive teeth or need something to soothe their gums so a high product mix depth is always a good idea.
- What do marketing managers learn about communicating with and targeting the potential customers from understanding the innovation diffusion process?
They understand that not all consumers will understand, purchase and implement their product instantly. Some will take days, weeks, months, or maybe even years before fully integrating the new product or technology. There are people still integrating handheld cellphones into their lives and cellphones have been around since before the 2000s. So understanding the Innovation Diffusion Process would be beneficial to Marketing Managers as they would know what and how to advertise this new tech or product to people. Millennials would more easily pick up and run with new tech than Boomers would and marketing managers could take advantage of that by advertising in specific ways to both groups.
Lamb, C.W., Hair, J., & McDaniel, C. (2020). MKTG: Principles of Marketing (13th ed.). CENGAGE.