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Manufacturers have long employed analogous engineering techniques to create a product line of similar products using a common factory that assembles and configures parts designed to be reused across the product line. For example, automotive manufacturers can create unique variations of one car model using a single pool of carefully designed ...
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.
As a particular industry matures and its growth slows, all business units become either cash cows or dogs. The natural cycle for most business units is that they start as question marks, then turn into stars. Eventually, the market stops growing; thus, the business unit becomes a cash cow. At the end of the cycle, the cash cow turns into a dog.
Vertical product differentiation can be measured objectively by a consumer. For example, when comparing two similar products, the quality and price can clearly be identified and ranked by the customer. If both A and B products have the same price to the consumer, then the market share for each one will be positive, according to the Hotelling ...
As the main idea of the line sheet is to present a big amount of information in a clear way, there is a certain structure. [3] Line Sheet consists of: Business general information. Business name; Logo; Contact information; Address; Product details. Product variants; Size; Color; Material; Product's availability; Product number/SKU; Wholesale ...
As a result of business unit and product line segmentation, the same entity (whether a customer, supplier, or product) will be included in different product lines. This leads to data redundancy and even confusion. For example, a customer takes out a mortgage at a bank. If the marketing and customer service departments have separate databases ...
Ansoff pointed out that a diversification strategy stands apart from the other three strategies. Whereas, the first three strategies are usually pursued with the same technical, financial, and merchandising resources used for the original product line, the diversification usually requires a company to acquire new skills and knowledge in product development as well as new insights into market ...
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.