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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.
When companies add a new item to a product line, it is referred to as the product line extension. The purpose of it is to attract new customers who may not be familiar or satisfied with the current standard product line. [8] For example, when a lifestyle pharmacy decided to add in a high protein muesli bar into its current product line of ...
From the line extension to brand extension, however, there are many different types of extension such as "brand alliance", [12] co-branding [13] [14] or "brand franchise extension". [15] Tauber (1988) suggests seven strategies to identify extension cases such as product with parent brand's benefit, same product with different price or quality, etc.
SunPower (SPWR) expands its battery-storage product portfolio by launching 19.5 kilowatt-hour (kWh) and 39 kWh SunVault battery-storage products.
A product line extension is the procedure of entering a new market segment in its product class by means of using a current brand name. An example of this is the Campbell Soup Company, primarily a producer of canned soups. They utilize a multiproduct branding strategy by way of soup line extensions.
Products [ edit ] Moskowitz developed Cherry Vanilla Dr Pepper when he was hired in 2004 by Cadbury Schweppes , which was hoping to expand the market for Dr. Pepper by developing a product line extension using an alternative formulation with vanilla or cherry flavors.
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