What Is An Example Of A Product Line?

What are the 4 types of product?

The difference in categorizing products is who the end user and the purpose will be for the product.

Consumer products are defined as products that satisfy a consumer’s wants or needs.

There are four types of consumer products, and they are convenience, shopping, specialty, and unsought..

What are the 5 levels of product?

The five product levels are:Core benefit: The fundamental need or want that consumers satisfy by consuming the product or service. … Generic product: … Expected product: … Augmented product: … Potential product:

What is an example of a product market?

Product markets refer to markets in which all kinds of goods and services are made and traded, for example the market for airline travel; smart-phones, new cars; pharmaceutical products and the markets for financial services such as banking, mortgages and pensions.

What are the three levels of a product?

In order to actively explore the nature of a product further, let’s consider it as three different products – the CORE product, the ACTUAL product, and finally the AUGMENTED product. This concept is known as the Three Levels of a Product. The CORE product is NOT the tangible physical product.

What are the 4 product line expansion?

There are four “stages” of the life cycle of a product: introduction, growth, maturity, and decline. The launch is exciting and is often followed by a surge of sales, but at some point, the product will wear itself out.

What is the difference between product mix and product line?

Product Mix. Both manufacturers and retailers must decide on width and depth of a product mix. This is done with strategies that determine a target market and an image. A product line is a group of closely related products manufactured and/or sold by a business.

What is a basic product?

Basic Products means products intended for export after processing into processed products or into goods; goods intended for export after processing shall also be regarded as basic prod- ucts, Sample 2.

What is an example of a generic brand?

Generic goods are products that are named only by their basic product type, and not an individual brand. Many stores carry generic goods for lower prices than goods with brand names. For example, generic soft drinks, which say “Cola” instead of having a brand name like Coke or Pepsi, are usually less expensive.

What are the different types of markets?

There are four basic types of market structures.Pure Competition. Pure or perfect competition is a market structure defined by a large number of small firms competing against each other. … Monopolistic Competition. … Oligopoly. … Pure Monopoly.

What is a product line extension strategy?

A product line extension strategy is an approach to developing new products for your existing customers or for prospects who do not currently buy from you. Extending a product line involves adding new features to existing products, rather than developing completely new products.

How does Apple use brand extension?

Apple (AAPL) is an example of a company that has a history of effectively using a brand extension strategy to propel growth. Starting with its popular Mac computers, the company has leveraged its brand to sell products in new categories, as can be seen with the iPod, the iPad, and the iPhone.

What is product line pricing with example?

That makes product line pricing, being able to cater to different customer segments, key to their success. It goes for deals on the same car, too. The same Honda Accord can cost $10,000+ more if you get the one with leather seats, a subwoofer, and a turbocharged engine, as opposed to a standard Accord.

What is product line extension example?

A product line extension is when an existing brand launches new products in a product category they already offer products within. For example, when a soft drink company offers a new flavor of soda. … Sometimes a line extension is called a product extension.

What are market products?

In economics, the product market is the marketplace where final goods or services are sold to businesses and the public sector. Focusing on the sale of finished goods, it does not include trading in raw or other intermediate materials.