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Major Product Line Strategies

The document discusses major product line strategies including expanding product mix by increasing product lines, contracting product mix by eliminating or simplifying product lines, altering existing products through redesign or new packaging, positioning products for certain customer groups and outlets, trading up or down by adding higher or lower priced products, and differentiating products through advertising their unique features. Product mix includes all products, brands, and items offered for sale or produced by a company across various product lines.

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Patrick Arazo
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922 views1 page

Major Product Line Strategies

The document discusses major product line strategies including expanding product mix by increasing product lines, contracting product mix by eliminating or simplifying product lines, altering existing products through redesign or new packaging, positioning products for certain customer groups and outlets, trading up or down by adding higher or lower priced products, and differentiating products through advertising their unique features. Product mix includes all products, brands, and items offered for sale or produced by a company across various product lines.

Uploaded by

Patrick Arazo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Discussed by: John Patrick Arazo

Bachelor of Science in Accountancy 1-9

Strategies are the key to surviving,


and surviving is success.

Major Product Line Strategies


01 The Expansion of Product Mix

Increasing the number of product lines.

A product line possesses the following characteristics:


01 A group of products closely related to
each other.
02 They are intended for same uses or they
function in similar manner.
03 They may possess similar physical
characteristics.

02 Contraction of Product Mix

A. Eliminating a complete line. Phasing out a deadwood product line.


B. Simplifying assortment within a line. Decreasing
number of styles, sizes, colors or other product mix
depth or breadth.
This strategy is implemented if market demand is very
low and cannot even offset maintenance costs.

03 Alteration of Existing Product

Redesigning of an industrial product or new packaging


design for consumer products

04 Positioning of the Product


04 Sold to the same customer group.
05 Marketed through the same types of
outlets with given price lines.
Product mix includes:
01 The complete list of all products offered
for sale or produced by a company.
02 It is a composite of all products, brands,
or items within each product line.

This is the consumers perception of a product, its


image against competitors products and other
products being sold by the same company.

05 Trading Up and Trading Down

Trading up is adding high-priced, well-known brand in


order to increase sales of existing low-priced items.
Trading down is adding low-priced products in order to
increase sales of existing high-priced items.

06 Product Differentiation

Product differentiation involves creation of consumer


awareness about the different features of a product.
This consumer education about the product can be
effectively achieved by using advertising as a tool.

References:
Alminar-Mutya, R. F. (2007). Elements of Marketing (Fourth
ed.). Mandaluyong: National Book Store.

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