A product line is a group of related products all marketed under a single brand name that is sold by the same company. Companies sell multiple product lines under their various brand names, seeking to distinguish them from each other for better usability for consumers.
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What is an example of a new product line?
When a company offers a product from a new category that they haven’t previously offered, then it would be a new product line. For example, Ninja Tech recently developed Ninja Tech Nutritional Bars to improve memory.
What is product line types?
Types of Product Line Decisions – Product Line Strategies
The product line decisions are (1) product line expansion, (2) product line reposition and (3) product line contraction. The marketing executive will make a variety of product line decisions over the life of a product.
What is product line branding?
Brand Line is a marketing term used to describe all the products sold under a single brand name. New flavors, package sizes, nutritional content, or products containing special additives are included in this definition.
What are the 3 different kinds of a product line?
There are different brand types: corporate brands, product brands, personal brands, service brands.
- Corporate Brands: This type of branding is a method used by companies to market themselves and outstand the competition.
- Product Brands: This branding involves marketing one specific product.
What’s another word for product line?
Similar words for product line:
business line (noun) line of business (noun) line of merchandise (noun) line of products (noun)
How do you create a product line?
5 Steps to Launching a New Product Line
- Define Your Target User. Do you want to create something that your existing customers will love, or something that will attract new customers?
- Product Validation.
- Develop a Go-To-Market Strategy.
- Set The Pre-Launch Stage.
- Develop the Next Product.
What is product line and its features?
Product line is a group of product items that can satisfy the same needs and wants, they have more or less similar features. For example, Bajaj Auto Ltd., in its two wheeler product line, makes Discover, Boxer, Boss, Pulsar, Cub scooter, Bajaj Sunny, etc.
What are the advantages of product line?
Product Line Benefits
- large-scale productivity gains.
- decreased time to market.
- increased product quality.
- decreased product risk.
- increased market agility.
- increased customer satisfaction.
- more efficient use of human resources.
- ability to maintain market presence.
What is the difference between product type and product line?
The difference is simple. A product is singular and product lines are plural.
How do companies classify product lines?
Product lines may be classified according to product class, customer group, price and/or quality, and distribution method.
What is product line pricing strategy?
Product line pricing is a product pricing strategy, used when a company has more than one product in a product line. It is a process that traders adopt to separate products in the same category into various price groups, to create different quality levels in the customers’ minds.
What is product line length?
Product Line length refers to the number of products/brands that come under a single product category/line. Marketeers must make a major trade-off. Having too many brands/products under a single product category or having one or two effective & revenue-generating brands ?
What is product line of Coca Cola product line?
For example, Coca-Cola has around 3,500 product category brands like Minute Maid, Costa Coffee, Smartwater, etc. These brands, even though different from each other, are controlled and operated by a single parent brand – Coca-Cola.
What are the 4 types of products with examples?
What are the four classifications of products?
- Convenience goods.
- Shopping goods.
- Specialty goods.
- Unsought goods.
What are the 7 types of products?
Types of Product – Goods, Services, Experiences, Convenience, Shopping, Specialty Goods, Industrial Goods and Consumer Goods.
What is Apple’s product line?
Company Information
(Apple) designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories and sells a range of related services. The Company’s products include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and accessories.
How do you start a line?
6 Tips for Writing a Memorable Opening Line
- Start in the middle of a story. The first lines don’t have to begin with long descriptions of a room’s appearance or a character’s personality.
- Open with a mystery.
- Flash back to the past.
- Describe the current state of affairs.
- Set the tone.
- Start with a voice.
What is product mix and product line example?
A product mix is a group of everything a company sells. However, the product line is a subset of the product mix. A product line refers to a unique product category or product brand a company offers. For example, Patanjali deals in different categories of products which include shampoo, flour, toothpaste, etc.
What is product line and product range?
A product range (or product line) is a group of products (mobile phones, laptops, microwaves, etc.) that have these similar characteristics: are closely related in form and/or function. are similarly priced. are marketed and sold through similar customer groups.
Why would a company want to add new product lines?
Increases Customer Loyalty
Selling more products obviously increases your revenue. More significantly, adding a new product line also decreases your overall costs because it’s much cheaper to retain existing customers than acquire new ones.