What is product line stretching?
What is product line stretching?
Line stretching means lengthening the product line beyond the current range. We can differentiate between downward, upward, and 2-way stretching. A company located at the upper end of the market may choose to stretch the product line downward. Thus, it may attract low-end customers and reach new targets.
What is product line with example?
A product line refers to a particular good or service that a company makes and markets to customers. A food company may extend a product line by adding various similar or related products (e.g., adding mesquite BBQ flavor to its existing potato chips line), and create a more diversified product family.
Which of the following is an example of a product line stretch upwards?
The examples of upward product line stretching in the automobile industry are Honda, Toyota, Lamborghini, Bentley, Acura, and Volkswagen. These brands followed the upward stretching decision and offered premium products.
What is an example of brand stretching?
Brand stretch: a launch of a new product into a completely different and unrelated category e.g. Galaxy Creamy Hot Chocolate with Marshmallows or Robinsons Classic Fruits Sweets.
How do you develop 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.
- The Bottom Line on Launching a Product.
What are the four branding strategies?
The four brand strategies are line extension, brand extension, new brand strategy, and flanker/fight brand strategy.
Can you give examples of successful or unsuccessful brand stretching?
There are examples of brands that stretched unsuccessfully and did damage to the core brand. Xerox never stretched successfully from copiers to computers. Levi suits were probably not the company’s finest moment.
What is product line pricing and examples?
Product line pricing is oriented on separating goods into cost categories in order to create various quality and feature levels in the minds of consumers. A good example of this would be Apple’s iPads. The basic iPad with wifi and limited storage costs $499.
How do you expand a product line?
The easiest way to expand your product line is to go vertical in your niche. Expand your product line with products that aren’t easily found elsewhere. In fact, this is one of the biggest advantages an independent online retailer has when it comes to sourcing: sourcing products that are not found at your local store or one of the major online sites.
What are examples of product lines?
Product Line Definition. A product line is a group of products that are closely related and are promoted together. For example, when a company creates a group of products that deal with hygiene, such as shaving cream, soap and shampoo, this is known as a product line.
What is line stretching?
Definition: Line Stretching. Line stretching is an expanding strategy by a company where the new products are launched in the same product line but beyond the current product range with some additional or different features.
What is product line filling?
Product line filling is the addition of further items to the current line of products that a company is dealing in.
What is product line stretching? Line stretching means lengthening the product line beyond the current range. We can differentiate between downward, upward, and 2-way stretching. A company located at the upper end of the market may choose to stretch the product line downward. Thus, it may attract low-end customers and reach new targets. What is…