product line example

An example would be Starbucks introducing Pumpkin Spice Lattes in order to meet seasonal demands. Start your 48-hour free trial and unlock all the summaries, Q&A, and analyses you need to get better grades now. These products are related and target a specific group of people and preferences. Explain political environment of business? A product line refers to a number of products that are related and developed by the same manufacturer. Width is the total number of product lines a company owns, length is the total number of products, depth is the total number of alternate versions of the product, and consistency is the degree of similarity between each product line in relation to each other. Starbucks would be an “up-market” stretch. In contrast, product extension simply refers to the expansion of the product line to include product alterations that meet market demand. This strategy helps bring variety to a product line and attracts new customers. Some companies try to develop new products to its portfolio, while others develop the extension or remake of the existing products. Product line stretching means to lengthen the current product line. Question and Answer forum for K12 Students. More broadly, a product mix refers to the total number of product lines that a company owns. These products have similar functions and also target a defined group of customers. Here are a few examples of product lines from some of the reputable companies. PepsiCo is a multinational company that offers hundreds of products in more than 200 countries. The product line length within a company keeps changing. What is John Dunlop Systems Theory in Industrial Relations about? An example would be Starbucks introducing Pumpkin Spice Lattes in order to meet seasonal demands. 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Thus, taking the above example, if there are 4 product lines within the company, and 10 products within each product line, than the product line width is 4 only. On the contrary, the product mix is the combination of all the product lines and categories a company offers to its customers. Line Pruning Decision means to reduce the depth of a product line by removing unprofitable products from the existing lines. For example, a consumer may not like Starbucks coffee, but maybe they will like Starbucks ice cream. This is not the addition of new products (like a product extension is), but rather the increase in the amount of a particular product sold in order to adjust for demand. Both products are grouped under the Starbucks product line, so Starbucks profits from the sale of both. Similarly, Quaker Oat is another Pepsi brand that focuses on health-conscious people. For example, a company might sell different product lines in different regions or at different price points. Already a member? The width of the product mix is equal to the number of product lines within a company. Line Stretching Decision. Please tell me the example of product line, product mix, product extension and product filling of the particular company. I need some examples of economic decisions made by individual, family and the country. This includes the width, length, depth, and consistency of the company’s product mix. Both products are grouped under the Starbucks product line, so Starbucks profits from the sale of both. An example of product mix would be Starbucks’s inclusion of both whole bean and dark roast coffee. But the larger brands have the deep pockets to start multiple product lines which can target multiple customer segments, premium or otherwise. Generally, there are three price bands which exists in any market – Lower priced products, middle priced products and premium products.One brand concentrates on one price brand.. Same Customer Groups. Finally, product filling refers to the increase in the number of products within a given product line in order to meet market demand. An example of product mix would be Starbucks's inclusion of both whole bean and dark roast coffee. Nike Inc., is an American Multinational Company that design, manufacture and market and sales footwears, apparel, and accessories. A product line can be thought of as a brand. For example, a consumer may not like Starbucks coffee, but maybe they will like Starbucks ice cream. In any given company, a product line refers to a variety of different products that are related and grouped together by the same company. Top subjects are Literature, Business, and Social Sciences. Educators go through a rigorous application process, and every answer they submit is reviewed by our in-house editorial team. Please tell me the example of product line, product mix, product extension and product filling of the particular company. In other words, it is a collection of products grouped together and sold by a company. Its product includes milk, flavored milk, chocolate, butter, curd, yogurt, ghee, etc. Sign up now, Latest answer posted April 18, 2008 at 5:57:55 AM, Latest answer posted November 29, 2019 at 2:13:36 AM, Latest answer posted January 25, 2016 at 5:28:45 PM, Latest answer posted April 04, 2014 at 6:40:30 PM, Latest answer posted June 30, 2020 at 1:27:04 AM. This could be based on sales trends (a particular product selling better or worse) or seasonal offerings. Examples of Product Line. Every product category target the same customer group. Referral Marketing also goes by the …, What is Marketing? The product line refers to the same kind of product but falls in same categories products are similar in their main characteristics. Over time, every company wants to expand its product range. According to the company’s website, it has divided into three main categories, i.e., Men, Women, and Kids. According to the Forbes magazine, the PepsiCo. Sony added waterproof and solar-powered Walkman to its current Walkman line. Our summaries and analyses are written by experts, and your questions are answered by real teachers. Save my name, email, and website in this browser for the next time I comment. Contact Us | Privacy Policy | Terms of Service, The hotel industry, otherwise known as the hospitality industry, spans …, What is Referral Marketing? What is a company profile? For example, A biscuit manufacturing company may have a special product line for price-sensitive people and another line geared towards quality sensitive people, along with its regular line of products. Please tell me the example of product line, product mix, product extension and product filling of the particular company. Width – The number of product lines a company sells. A group of related products constitutes a product line, and the combination of different product lines makes the product mix, which is owned by the parent brand. Consistency – The measure of how closely related a company’s product lines are to each other in terms of use, production, and distribution.

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