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Product line with example is what will make your brand more successful every day and immediately attract customers. Read the article from CITY PROFIT about the range quickly and in simple terms.
In its simplest sense, in its most basic sense, a group of interrelated items that differ from one another in terms of characteristics and cost. Dividing products into different price ranges allows potential customers to focus on the product that best suits their needs and financial capabilities.
In addition, companies may sell multiple product lines of different brands that differ by country of manufacture, target audience, quality, and so on. Such product lines are expanded and supplemented because customers will always return to the products of the brand they already trust and know.
This is the main feature and goal of the product line.
A shop with freshly baked bread from own production: bread with different flavors (e.g. with onions or herbs of Provence), low-calorie bread (yeast-free, sugar-free or whole grain flour) can be included in the product range.
A women’s jewelry store may also include hair accessories, accessory storage boxes, and special protective cleaning products in its product line.
A product line works as one of the best marketing strategies.
Everything happens according to the principle of customer trust: if a buyer likes a product of a certain brand, his loyalty and trust in this brand increase significantly, and due to such a positive experience, there is a high probability that this buyer will buy products of this brand again and again.
A marketing technique known as “product line extension” uses an established brand to add a new product to an existing product line.
A company’s new product may differ only slightly from existing products in terms of taste, color, shape, ingredients, or package size.
It was the Colgate Company that started selling toothpaste in tubes in 1896! The company invented new technologies, expanded production and…
The company found just the product it needed to add to the sale of toothpaste so that it would be most needed by its customers. And it started selling toothbrushes from its own production. It was a phenomenal success, the toothbrushes were bought out very quickly.
However. Colgate also had a terrible failure in expanding the product line.
WARNING. The Colgate company decided… To sell frozen foods. You don’t believe in it? And it still would!
Why was this way wrong? Because people associate the Colgate company with hygiene, with appliances for brushing teeth, with refreshing mint, BUT not with frozen food.
The entire range of goods and/or services offered by a company is referred to as a product mix, often also as a product assortment or product portfolio.
Product lines, i.e., related goods that customers frequently use together or perceive as related goods or services, constitute a product mix.
The value of the company’s product range is crucial, as it directly affects the brand image. If a high product length and depth are maintained, the brand reduces any possibility of dependence on a single product or product line.
Now it is time to find out the meaning of the length, depth, and width of the product line with example. We will analyze a simple and universally known product line with the Coca-Cola brand.
The number of items or brands that fall under a particular product category or line is called the product line length.
Product Line with example—Length at Coca-Cola:
Product line with example—Sparkling soft drinks. Product Line Length – Coca-Cola Original, Fanta, Sprite, Coca-Cola Zero, Coca-Cola Coffee, Schweppes…
Length – Total Products
The number of variants or versions that a brand or product offers within a given product line is called product line depth. The same product may be available in different variants, sizes, and flavors.
Product Line with example—Depth at Coca-Cola:
Product line with example—Coca-Cola. Product Line Depth – Coca Cola Original, Coca-Cola Zero, Coca-Cola Coffee….
Depth – Product Variation
Product mix width is the number of simultaneous assortments that a company or brand offers.
Product Mix with example—Width at Coca-Cola.
Example of Product Mix Width at Coca-Cola: Soft drinks, Minute Maid, Mineral Water.
Width – Number of Product lines
There are many different theories on product mix policy. And when you open your shop/run a business, you need to understand exactly what you need to offer to the customer 100%.
So, the ABCR assortment policy of CITY PROFIT.
Each letter is an abbreviation, each letter is a separate product.
Product “A” is an insanely expensive marginal product. You sold it once, and the whole team is HAPPY. Such a product is rarely sold, but it needs to be in your assortment, so you can offer it when the opportunity arises.
For example, there is already a mega warm customer who buys product “B” (we will talk about him below) and says “You guys are so cool, I WOULD BUY ANYTHING FROM YOU”. So you offer your product “A” and he buys it. You are satisfied, the customer is satisfied, and your team is satisfied.
Product “B” is a common, typical product that you sell all the time, every day. It is exactly the product that earns you your average check every day.
Product “C” is a communicative product. Something that you can sell very quickly, and that the customer can buy very quickly because it’s cheap, and immediately understands what it’s like to work with you. The customer sees how quickly you process a payment with them, how quickly you find a product for them, and so on. It’s like the first impression of you, but with an affordable product and the possibility of further cooperation.
Product “R” is a recurring payment, that is, a payment that is made “again and again”.
With this product, there are always the most questions, and you really need to do some brainstorming to find the exact recurring payment that fits your business.
In fact, the “R” product is always profitable for you, you do not need a separate advertising campaign or promotion for it, and your customers will still buy it.
An example: recharging a cell phone account, internet, renewing a gym membership.
You should listen to our ABCR tool because it has been tested by time and our experience. If you already have a shop and find that there is no product in your range, you have a problem. If you need CITY PROFIT, follow the LINK and read more.
If you are just starting a business, then we have a surprise for you—HERE is an article where you can read more about 10 Tools to Start a Business for $10,000 and 10 Business Ideas for $10,000.
No. Expanding the product line is creating an entirely new product (e.g., a new flavor, a new color). And the reformulation of the product line is the replacement of an existing element or its improvement (e.g. a greater number of organic and natural elements in the product).
If you care about the trust of your customers, you must automatically care about the product line. It pays to build your brand honestly, openly, and in a way that makes customers want to come back to you. Therefore, pay attention to your product line, improve it, analyze sales, study your audience. And then they will love you, consult you and buy from you again and again! Read more about starting a business HERE.
Yes! Because this is your marginal product. Customers are different and you must have everything in your arsenal to offer and sell. Yes, you will not sell product “A” every day. However, you should have it – your most expensive, luxurious, and delicious chip.
Brainstorm with the team: analyse the market, analyse consumer needs, and look for similar products for your line. If you need help – request a FREE consultation at CITY PROFIT HERE. We will help you get your assortment under control quickly!