Module 2 – MarketingConcepts3V’s OF MARKETINGThe 3V marketng mix is an alternatve and supplemental method which aids in determining a company´sproduct strategy as well as product portfolio.The 3V marketng mix is a method which aids in determining a company´s product strategy as well asproduct portfolio. It represents an alternatve approach to the marketng mix concept.VALUEDCUSTOMERVALUEPROPOSITIONSEEKING THE ANSWER TO THE QUESTION: “WHOTO SERVE?“SEEKING THE ANSWER TO THE QUESTION: “WHATTO OFFER?“VALUE CHAINSEEKING THE ANSWER TO THE QUESTION: “HOWTO OFFER?“PRODUCT MIX – LENGTH, DEPTHProduct MixThe complete set of all products that a company offers to the market is called as theProduct mixof thecompany. For example, the below picture shows the complete product mix of Proctor and Gamble:
Module 2 – MarketingConceptsProduct LineAproduct lineis a group of products within the product mix that are closely related,eitherbecause they functon in a similar manner, are sold to the same customer groups,aremarketed through the same types of outlets or fall within given price ranges.Example: For HUL Soaps is one product line.Product Line BreadthThebreadth (or width) of the product mixconsists of all the product lines that the company has to offer to itscustomers. If we take P&G, for example, the breadth of the major product lines would consist of hairproducts, oral care, soaps and detergents, baby care, and personal care. This means that the product mixbreadth is five.Product Line DepthThe number of products in a product line refers to itsproduct line depth.The depth of product blend refersto how many variants are obtainable of each product in the line.For example, since Lux comes in 4 type ofscents (exotc flower petals & almond oil, jojoba oil, and milk cream, fruit extracts and honey and sandalsaffron in milk cream), it contains a depth of 4.