Examples of product line breadth in the following topics:
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- 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 breadth of the product mix consists of all the product lines that the company has to offer to its customers.
- You may also hear the product line breadth referred to as the product width, product assortment width, and merchandize breadth.
- Describe the relationship between product line breadth and the product marketing mix
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- 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.
- 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.
- Marketers should consider how to position the product, how to exploit the brand, how to exploit the company's resources, and how to configure the product mix so that each product complements the other.
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- 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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- 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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- 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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- 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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- 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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- 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.
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- In general, the more substitues there are for a product, the more elastic it is.
- For instance, one can get their morning juice from products other than cranberry juice.
- Breadth of definition of a good: The broader the definition of a good (or service), the lower the elasticity.
- Percentage of income: The higher the percentage of the consumer's income that the product's price represents, the higher the elasticity tends to be, as people will pay more attention when purchasing the good because of its cost.
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- 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.