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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 a business adds a line extension to the product line and if it is of a higher quality than the current products, it is considered as trading up or an upward stretch. Alternatively, if the new added item is of lower quality compared to other existing products, it is known as trading down or a downward stretch. [ 9 ]
Determines the static and dynamic decomposition that is valid for all products of the product line. Also the collection of common rules guiding the design, realisation of the parts, and how they are combined to form products. Variability model Defines the variability of the product line. Design & implementation assets of reusable components
Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed image uses the same brand name in a different product category. The new product is called a spin-off .
New generation methods are extending benefits beyond product creation into maintenance and evolution, lowering the overall complexity of product line development, increasing the scalability of product line portfolios, and enabling organizations to make the transition to software product line practice with orders of magnitude less time, cost and ...
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Product managers are responsible for managing a company's product line on a day-to-day basis. As a result, product managers are critical in driving a company's growth, margins, and revenue. They are responsible for the business case, conceptualizing, planning, product development, product marketing, and delivering products to their target ...
Ansoff, in his 1957 paper, "Strategies for Diversification", [2] provided a definition for product-market strategy as "a joint statement of a product line and the corresponding set of missions which the products are designed to fulfill".