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The term product assortment refers to the combination of both product breadth and depth. The main characteristics of a company's product assortment are: [4] (1) the length or number of products lines the number of different products carried by a store (2) the breadth refers to the variety of product lines that a store offers.
Product line pricing is a product pricing strategy, used when a company has more than one product in a product line. [10] 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.
For each product or service, the 'area' of the circle represents the value of its sales. The growth–share matrix thus offers a "map" of the organization's product (or service) strengths and weaknesses, at least in terms of current profitability, as well as the likely cashflows. Common spreadsheet applications can be used to generate the matrix.
GE multifactorial analysis is a technique used in brand marketing and product management to help a company decide what products to add to its portfolio and which opportunities in the market they should continue to invest in.
Including older models, Apple currently offers three iPhones: 3GS, 4, and 4S. Counting Android and Windows Phone handsets, LG has 27 different models currently listed on its site.
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
A product strategy sets the direction for new product development. Companies utilize the product strategy in strategic planning and marketing to set the direction of the company's activities. [1] The product strategy is composed of a variety of sequential processes in order for the vision to be effectively achieved.
Product life cycle plays an important role in marketing. The first reason is that the managers will follow the four stages to make product plans for pushing out new products. Secondly, the level and growth of sales will change a lot during the four stages so the managers need to adjust the product plan appropriately and timely.