product line

Examples of product line in the following topics:

• Product Line Breadth

  • The breadth of the product mix consists of all the product lines that the company has to offer to its customers.
  • 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.
  • Describe the relationship between product line breadth and the product marketing mix

• 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.

• 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

• 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.

• 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.

• 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.

• Defining Product

  • In retail, products are called merchandise.
  • Most goods are tangible products.
  • An intangible product is a product that can only be perceived indirectly such as an insurance policy.
  • A product line is "a group of products that are closely related, either because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges. " Many businesses offer a range of product lines which may be unique to a single organization or may be common across the company's industry.
  • In 2002 the US Census compiled revenue figures for the finance and insurance industry by various product lines such as "accident, health and medical insurance premiums" and "income from secured consumer loans. " Within the insurance industry, product lines are indicated by the type of risk coverage, such as auto insurance, commercial insurance, and life insurance.

• 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.

• Deletion

  • Product deletion, either through product replacement or product elimination, results when products fail to meet company expectations.
  • As a result, companies are under pressure to evaluate their existing product line and to make continuous decisions about adding new products or deleting existing ones.
  • One reason for this pattern is the product life cycle.
  • Deletion results in either product replacement or product elimination.
  • Failure rates of products vary by industry.

• The Need for New Products

  • As a result, companies must always evaluate their existing product line and look for ways to ensure that it is up to date and in line with consumer desires.
  • Continuous decisions must be made about whether new products should be added (and whether old products should be removed).
  • This fictitious company has marketed eight different products over time.
  • In the past, four of these products have been deleted as they near obsolescence (the products labeled as A, B, C, and F).
  • Sales of individual products and total company sales for a fictitious company with multiple products.