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As mentioned above, the width of product mix is referred to as the total number of product lines that the company offers. A diversified product mix can target the maximum number of customers, however, such numbers of product lines requires much attention and focus as each product line targets different groups of consumers and involves individual strategy and management.
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.
The company can extend its product line down-market stretch, up-market stretch, or both ways. Product line extensions are a process where companies with an established brand alter the factors of a product or products to satisfy a refined segment in the market. [1] There are two types of product line extensions, horizontal and vertical.
Product: A product refers to an item that satisfies the consumer's needs or wants. Products may be tangible (goods) or intangible (services, ideas, or experiences). Product design – features, quality; Product assortment – product range, product mix, product lines; Branding; Packaging and labeling
Marketing historians refer to this period as the "Foundation Age" of market research. By the 1930s, the first courses on marketing research were taught in universities and colleges. [ 35 ] The text-book, Market Research and Analysis by Lyndon O. Brown (1937) became one of the popular textbooks during this period. [ 36 ]
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Image source: The Motley Fool. Seagate Technology Plc (NASDAQ: STX) Q2 2025 Earnings Call Jan 21, 2025, 5:00 p.m. ET. Contents: Prepared Remarks. Questions and Answers. Call Participants
Product placement is paying a movie studio or television show to include a product or service prominently in the movie or show. [1] Digital marketing is the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium. [7] [8]