The marketing mix elements consist of product, price, distribution, promotion and packaging of handicrafts.
Product: A product is a set of tangible and intangible characteristics, including wrapping, color, price, manufacturer's prestige, retailer's prestige, and manufacturer's and retailer's services, which the buyer may accept as offering want fulfillment.
Product-Line:
Handicraft: Firms which market only one product are rare today. Most firms offer a product line. A product line is a group of products related in function or customer purchase needs. The benefits of changing the composition of the product line, by either adding or subtracting products, depend on a number of factors- the preferences of consumers,
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The products which are not profitable are usually deleted from the product line. The decision whether to discontinue a product is often based on how fast it moves. Deletion of some of the products from product line may also be a practice in handicrafts. Handicrafts designs: The Design of a handicraft product should be in accordance with the tastes and preferences of customers. There are three types of designs viz., conventional, modern, combination of conventional and modern which are usually adopted by artesian. Conventional designs are age-old and traditional designs. While modern designs are in keeping with the changes of consumer preferences and tastes. Conventional and modern is a combination of both types. Product planning and development in Handicraft: Product planning and development can be found even in handicrafts. Handicrafts are the products of creativity and workmanship. Artisans, usually, strive for excellence in their crafts by undertaking product planning and development. Expansion in Handicraft: Expansion is increasing the present scale of operation either by mechanizing the process of production or by enhancing tile installed capacity. Expansion …show more content…
Consequently, they think that it’s hard to settle the price basing on cost of creation. The specialists have said that they settle prices of articles basing on its market acknowledgment and basing on the price offered by ace skilled workers, merchants and co-agent social orders. Prices of handicraft articles are settled by skilled worker himself, ace expert, merchant and co-agent social orders, the degree of impact of these individuals in settling the prices vary from specialty to create. Merchants and co-agent social orders as saw by a dominant part of the respondents’ impact an extraordinary arrangement in settling the prices or handicrafts. Charges in Handicraft: Sales assess is high on handicrafts as well as differed from art to create. It is recommended that the State Government may absolved handicrafts from deals assess, as it is as of now done in States like Bihar, Madhya Pradesh and Kerala. The nonappearance of offers assess on handicrafts will bring about diminishment of Handicrafts prices and in this way increment the deals. It's very troublesome for artesian to make due in showcase unless government ought to ensure
Thus new products/line extensions will be based on Allround brand, each one with a unique target market, delivering different value proposition to the respective customer.
Product is/are the products or services you offer and are they unique and different, superior in quality and easier to use. In my own opinion, the product or service is one the most important aspects of a successful business. If you have an item that the customer really wants they will drive out of their way to purchase it. They are usually willing to pay a higher price if the quality justifies it. When a local popular hamburger place open up in Phoenix, people drove long distances and sat in long lines just to bite into one of their juicy hamburgers.
A line extension or a new product line will require additional investment for product development and marketing activities.
Technology has steadily evolved to develop more innovative and productive techniques in the making of various crafts. In addition to enhancing the quality of products, the ability to create them at a higher rate has been discovered. However, quality and quantity are usually inversely proportional to each other. In more recent times consumers have begun to desire Japanese artifacts. Most producers attempt to sate this desire through mass production. While this alternative may be inexpensive, it lacks the high quality that true artisans can deliver. In these cases, consumers are also at fault as they let their desire for instant gratification outweigh their desire for superior creations. Largely, in the production of crafts, producers sacrifice optimal quality for a high output in order to fill the demand for inexpensive products by the consumer.
It is never enough to create a great product; it has to be coupled with a desire for that product. The competitive advantage that Wedgwood brought to his company was the ability to create demand for goods. He was able to see the needs of the market before the market did and then cultivating market demand to satisfy those needs with his goods. A differentiation strategy was put into place by Wedgwood for his products as there were already a number of pottery options available on the market. Instead of the low quality, irregular options that were available on the market, Wedgwood’s pottery was made from clay, rather than wood, and was a more uniform finished product. A method of increasing demand by raising the perceived value of the pottery is to drive up demand by the high affluent. One of the ways that he accomplished this was through a technique called inertia selling. By putting a high quality and reputable product in the hands of the elite with no penalty, Wedgwood can display first-hand his high-end craftsmanship and design. With the working class working in the homes of...
As the concept evolved by early nineteen century manufactures had improved, so did the variety of materials and techniques used to create the difference of shapes that have historically ...
One of the initial of most common reasons why designs and products fail is due to the lack of having a set product vision. Many designers often chase behind the factor of having a good feature for their product design and neglecting the main idea of having a set vision and strategic thinking. Also, another reason for a design to fail is the lack of learning for the culture of the product. A good design can be created w...
For instance, Primark 's products offer customers clothing as a base product, of witch actual benefits are being to be cheap and trendy, and they may have some return policy as augmented benefit in case of defects. Each product may be realised following a new product development process to improve its success rate (Harris and Schaefer, 2015, p.43-47).
First we will discuss product. Within marketing terms, the product can be defined as a good or service that is provided for consumption or use by a customer. An easy example of a service product is hotel customer service. Another example of a product service can be the omnipresent use of cell phones, pertaining to their service providers. Product goods are easy to define, with footwear manufactured by Nike, or soft drinks such as Coca Cola.
Dansk Designs Ltd., founded in 1955, is a company that markets stainless steel flatware. The firm traditionally followed a strategy of differentiation. They produce high quality products for the “top of the table”. Their goal was to reach a small market segment, which consisted of upper class, prestigious customers. Dansk Designs wanted to sell the concept of the Dansk brand, and believed their consumers would purchase the Dansk products because of the prominent brand name and because the products were the very best in taste and quality. Ted Nierenberg, the founder of Dansk Designs has recently decided that he wants to keep Dansk growing at 15% to 20% per year. Nierenberg feels as if his current product line will not provide sufficient growth to meet his objectives, and believes it is in the company’s best interest to introduce a new line of house ware products called Dansk Gourmet Designs Ltd. Nierenberg believes they should market this new line to a much wider group of consumers at competitive prices. However, I believe that although expanding into a new market with a new product line will increase short-term revenues, in the long run it will be detrimental because the new line will dilute the brand identity of Dansk Designs. If Nierenberg wants to grow every year 15% to 20%, I believe he should consider ways to lower costs instead of increasing volume and revenues.
The product constitutes of two major aspects which are tangible and intangible in nature. The tangible part is the product and the packaging and the intangible part constitutes of factors like installation services, warranties, credit etc. In case of Apple Products the tangible part or the product and the packaging are best in class. Apple is into deep market research and considers the varying taste of the consumer and designs and innovates the products accordingly. The IPhones or the IPODS are ...
“Product: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user 's needs and wants. The scope of a product
In the early 1800s, lace made materials are much expensive than the crochet products. In Europe, some communities use crochet products to identify their social status, which only indicate that they can afford crochet products and other lace made items. The craft of crocheting only requires less expensive supplies and materials, which are commonly threads and yarns that they can purchase in nearby markets.
What is product? Product can be anything, tangible and intangible. Product is anything that the company can offer to the consumer. Apple’s products are the best of service in the market. From computer to smartphone to tablet computer, today customer believe that if they get the apple product. Even that price is high also worth it. Apple products are usually high quality, so in some case that is the best of available device for customer. However, it is not perfect, many customers leave for a series of problems, so they deeply hurt.
Know the problems of your customers and what they are looking for, then offer them the right products and outline the benefits to them. Most of the time, customers do not care about your product or its features. They care about what your product does for them. Therefore, do not just list the features of what you offer, but rather add the benefits of your products or anything you offer to your targeted audience (your customers or visitors). This is a very effective element for Customer satisfaction.