product line depth
(noun)
Product line depth refers to the number of products in a company's specific product line.
Examples of product line depth in the following topics:
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Product Line Depth
- Companies employ different strategies to expand their product line depth, which refers to the number of products in a specific product line.
- A product line can contain one product or hundreds.
- The number of products in a product line refer to its product line depth, while the number of separate product lines owned by a company is the product line width (or breadth) .
- Soft drink companies tend to produce many variations of a similar product, thereby filling out their product line.
- Describe the different tactics for implementing full-line and limited-line product strategies
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Product Line Breadth
- What products will be offered (i.e., the breadth and depth of the product line)?
- The product mix (sometimes called "product assortment") is made up of both product lines and individual products.
- An individual product is a particular product within a product line.
- The other three are the length, the depth, and the consistency.
- Describe the relationship between product line breadth and the product marketing mix
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Product, Placement, Promotion, and Price
- The marketer must also consider the product mix, which includes factors such as product depth and breadth.
- Product depth refers to the number of sub-categories of products a company offers under its broad spectrum category.
- It's product depth includes sub-categories such as passenger vehicles, commercial vehicles, transport vehicles, et cetera.
- This broad spectrum category is also known as a product line.
- Product breadth, on the other hand, refers to the number of product lines a company offers.
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Product Advertising
- The stage of the Product Life Cycle (PLC) often determines the type of advertising that is used by advertisers for a particular product.
- This form of advertising is designed to stimulate primary demand for a new product or product category (McDaniel et al, 2006).
- It is heavily used in the introductory stage of product life cycle when a new product is launched.
- This type of product advertising provides in-depth information of the benefits of using a product or service.
- The type of product advertising a company chooses depends on where the product is in its life cycle.
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Brands and Brand Lines
- Brand line is a marketing term used to describe all the products sold under a single brand name.
- Brand line is a marketing term used to describe all the products sold under a single brand name.
- More than half of all new products introduced each year are brand line extensions.
- A company introduces a brand line extension (also referred to as product line extension) by using an established product's brand name to launch a new or slightly different item which may or may not be in the same product category.
- Additionally, there is potential for intra-firm competition between the parent product and the line extension or between two or more line extensions.
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When to Extend Product Lines
- A company can extend its product line using a down-market stretch, an up-market stretch, or a move both ways.
- A product line extension is the use of an established product's brand name for a new item in the same product platform.
- Thus, line extension occurs when the company lengthens its product line beyond its current range.
- The company can extend its product line with a down-market stretch, an up-market stretch, or a move both ways.
- A line extension strategy should only be considered when the producer is certain that the capability exists to efficiently manufacture a product that compares well with the base product.
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Product Line Pricing
- Line pricing is the use of a limited number of price points for all the product offerings of a vendor.
- Line pricing is the use of a limited number of prices for all the product offerings of a vendor.
- Line pricing serves several purposes that benefit both buyers and sellers.
- From the seller's point of view, line pricing holds several benefits:
- The product and service mix can then be tailored to select price points.
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Product Lines in Services
- By productizing a service it can be managed more like a product and various product lines can be created.
- There is a solution, however, to productize the service.
- Productizing a service means making the service look more like a product so that it is easier for customers to conceive, and thus buy.
- An entire product line (or lines) could be produced using the same technique.
- Service Product Management deals with managing a service product throughout its complete life cycle.
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Identifying Product Benefits
- Identifying product benefits involves finding out what the customer really wants and needs, not just listing a variety of product features.
- Profitable products must align the need of the consumer with the benefit of the product.
- But all involve a series of structured in-depth interviews, which focus on the customers' experiences with current products or alternatives within the category under consideration.
- It is critical that the product development core team are highly involved in this process.
- Demonstrate the application and use of product benefits in advertising campaigns
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Adjustments to Products
- Marketers must often make product adjustments in order to keep the product competitive and continue to provide satisfaction to the buyer.
- A product line extension is the use of an established product's brand name for a new item in the same product category.
- Line extensions occur when a company introduces additional items in the same product category under the same brand name, such as new flavors, forms, colors, added ingredients, or package sizes.
- The company can extend its product line down-market, up-market, or in both directions.
- Up-Market Stretch: companies may wish to enter the high end of the market for more growth, higher margins, or simply to position themselves as full-line manufacturers.