It characterizes the diversity of products The term “line” refers to products and services that have similar functional features, characteristics, and are aimed at a specific segment of the target audience.
Assortment is the totality of goods/services that a company offers to customers in general.
The product line and mix contain the
main components of a company’s portfolio. However, it is important to note that the product mix is much more than a product line. Let’s look at c level contact list an example to better understand.
Pepsi offers different product lines such as energy drinks: Pepsi, Mountain Dew, 7UP, Marinda, and food products such as Quaker Oat. The consumer can get confused by this vast selection. It is important to separate the assortment into lines to simplify the customer journey and increase the overall profit of the company .
4 goals of creating a product line
The formation and development of the product line has the following goals:
- Maximizing Revenue: Instead of selling the same product to a customer, the company offers a diverse product line, which significantly increases profits.
- Reducing advertising costs. With a product line, a company can reduce marketing and PR costs. This is done by using a brand strategy and advertising campaign that is common to the line.
- Target audience retention. This is an extremely important aspect of a successful business. If a customer purchases a single product from a company, they can easily switch to competitors after that. However, if a company o optimizing your presentation to drive traffic to your website ffers a product line, this creates an excellent opportunity to retain the consumer and interest them in repeat purchases.
- Expanding your customer base. Expanding your product family is an effective way to attract new audiences
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4 characteristics of the product line
Classifications of product lines allow us to executive list evaluate their differences from each other. Since all product lines are unique, it is important to define criteria that allow us to typify their characteristics and elements both within one company and between different firms.
A product line in marketing is formed in terms of its width, length, depth and integrity. This allows us to evaluate the content and direction of such lines when developing marketing strategies and tactics for a company.
- Width
The breadth of the product range determines the total number of product lines that a manufacturer markets. For companies that produce a wide range of products, such as electrical appliances and home appliances, it is important to provide marketing support for each line so that they focus on selling to different target audiences.
- Length
within a line. It is believed that a wide range of products provides more options for customers and increases their satisfaction. But products with