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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.
Fun facts aside, one of the most important strategies that Steve Jobs implemented upon his return was to quickly slim down Apple's product offerings by focusing on depth instead of breadth, which ...
Changes in a competitor's advertising message can reveal new product offerings, new production processes, a new branding strategy, a new positioning strategy, a new segmentation strategy, line extensions and contractions, problems with previous positions, insights from recent marketing or product research, a new strategic direction, a new ...
Porter's generic strategies detail the interaction between cost minimization strategies, product differentiation strategies, and market focus strategies of firms. [1] Michael Porter described an industry as having multiple segments that can be targeted by a firm. The breadth of its targeting refers to the competitive scope of the
Product line pricing is a product pricing strategy, used when a company has more than one product in a product line. [10] It is a process that traders adopt to separate products in the same category into various price groups, to create different quality levels in the customers’ minds.
What products will be offered (i.e., the breadth and depth of the product line)? Who will be the target customers (i.e., the boundaries of the market segments)? How will the products reach those customers (i.e., the distribution channel, and are there viable possibilities that create a solid business model)? At what price should the products be ...
In deciding what type of new food products a consumer would most prefer, a manufacturer can either try to develop a new food product or try to modify or extend an existing food. For example, a sweet, flavored yogurt drink would be a new product, but milk in a new flavor (such as chocolate strawberry) would be an extension of an existing product.
Product strategy defines the high-level plan for developing and marketing a product, how the product supports the business strategy and goals, and is brought to life through product roadmaps. A product strategy describes a vision of the future with this product, the ideal customer profile and market to serve, go-to-market and positioning ...