Product line strategy pdf download

Product line a group of related products marketed by the same company. Product line extension strategy new product development. A larger assortment, it is often argued, keeps customers loyal and allows firms to charge higher prices. A distribution strategy is a plan to reach customers with goods and services.

A company may sell multiple products under one product line, and it can also have multiple product lines under its brand. A mathematical modeling approach to product line decisions. See how product lines need crossorganization roadmaps and strong business strategy linkage. Extending a product line involves adding new features to existing products, rather than developing completely new products. Scribd is the worlds largest social reading and publishing site. Product line strategy overview template clickstarters. The features and investments in innovation that will address the specific problems of your target customers.

Download fulltext pdf planning product line strategy. Miracle there is real need for increasingly rigorous generalizations and analytical nnodels of the behavior of the elements in any given marketing system. Linking product line strategies to competitive advantage. These results are used to inform a recommended scenario based strategy for product line expansion. Product mix and product line understanding product length.

This may affect the product line design in general, and which products or services are offered in particular. The production strategy is derived from the organizations business strategy and is intended to coordinate the actions of the core asset and product. Read articles about product strategy from product management experts at productplan. When evaluating price, it is important to know all costs, as they are a significant variable for business profitability. A product line extension is when a company creates a new product in the same product line of an existing brand. Perhaps their physical attributes, prices, quality, or type of customers are the same. Indepth and interactive exploration of how to develop powerful product line strategies coupled with detailed execution roadmaps. Demand modeling in product line trimming teckhua ho. Define platform strategy first and productline strategy next. A good product strategy allows businesses to zero in on a specific target audience to draw the focus on a specific product along with consumer attributes. Determining whether to create, expand or retire product lines is part of the overall product line strategy. Trim line strategies, one needs to examine the impact of each strategy on the expected sales or. The result was a completely new operations strategy and transformation roadmap, which streamlined the clients operations and product portfolio while also. Thus, the company has witnessed consistent aboveaverage market growth in the year 2016 and is a strong global contender.

A product line is a group of related products under a single brand sold by the same company. The product line length within a company keeps changing. Likely expansion scenarios and decision points consolidation, acquisition, capital expenditures, etc. Opinion on product line strategy and even competitive adv antage is a complex concept. Product characteristics and marketing strategy gordon e. The product portfolio strategy must be matched to the right distribution, pricing, and promotion strategy. Maybe their function or channel distribution are the same or similar. Define platform strategy first and product line strategy next. The changes in product often furnish superior product satisfaction, thereby generating high initial buying and greater, switching from existing brands. Generally, there are three price bands which exists in any market lower priced products, middle priced products and premium products. Communication strategies and product line design citeseerx. When a product is dropped, the turnover of the company is considerably affected.

Use the product line strategy overview template to help create the framework for your product line strategy. An approach for identifying cannibalization within product line. Pdf product strategies of companies in the fmcg industry. A company has several strategies at its disposal with respect to the width, depth and consistency of its product mix.

The remainder of this survey is structured as follows. Overall the reader will have clear idea about importance of product line, brand identity and strategies to a company. Link the product line strategy with the product development plan and process. This site is like a library, use search box in the widget to get ebook that you want. The production strategy for a software product line is the highlevel description of how the production system realizes both the core assets and products. A product line strategy is a coherent approach that focuses work and decisions across related products. The product strategy enables you to focus on a specific target market and feature set, instead of trying to be everything to everyone. As product managers it is your responsibility to drive the vision and the strategy for your products. We identify the conditions under which the manufacturer extends her product line or replaces the old product with a new product, and find that i a higher retailer.

Nov 06, 2018 focus on a particular segment, product, or market. Download as pptx, pdf, txt or read online from scribd. Learn the very essence of a good product line strategy. Formulation of a production strategy for a software product line. The study also identified strong positive impact of consumers satisfaction on product line and brand loyality among consumers.

The total assortment of products and services marketed by a firm. It is also common for distribution strategy to vary by region as a firm may seek. Product strategies, which set the stage for selecting strategies for each of the remaining components of the marketing program, forms a leading edge of a positioning strategy. When your stakeholders ask for your product strategy this can be a daunting task where you can feel overwhelmed by the sheer number of potential ways for your product to develop. Manufacturing footprint strategy for product line expansion. Most of these strategies involve a change in the product mix. But to actually get to this point, you must take action. Prior to the lt2 product line, live training systems were developed separately by a variety of different manufacturers. Product lines are created by companies as a marketing strategy to capture the sales of consumers who are already buying the brand.

This dropping of a product or the slimming of the product line is known as product line contraction. In the last ten years, the product management role has expanded its influence in technology companies. Thus, taking the above example, if there are 4 product lines within the company, and 10 products within each product line, than the product line width is 4 only. Vision business strategy product strategy product roadmap product backlog if you can break down quarterly business goals into product goals and capture them on a product roadmap, depends on the product s life cycle stage. In order to evaluate the pros and cons of the same line and. In most businesses, strategic decisions are implemented by changes in the components of the product line or shifts in emphasis within a product line. Elements of an effective product strategy roman pichler.

What is product line strategies life and experiences. Jan 17, 2016 use pdf download to do whatever you like with pdf files on the web and regain control. The secret to a focused product strategy most aspects of our lives are about achieving specific goals. It is common for firms to adopt multiple distribution channels to reach customers in convenient ways. Scalability while many competing ecommerce solutions are following conventional wisdom in their.

Distribution includes both sales and delivery of everything that surrounds a product including customer service and customer experience. The strategy for an extension could be a different color or size, and it may have. Sep 06, 2011 manage and improve product strategy like any other business process. Stretching the product line the marketing study guide. In section 2, we give a short introduction to software product lines using a running example and we present an overview on important software analysis that have been applied to soft. Product line strategy greatly improving strategies and.

It addressed the need to move air to enhance the environmenta hunter fan brand proposition, confirmed by research and accepted by home depot. Download a strategic analysis of colgate s toothpaste product line or read online books in pdf, epub, tuebl, and mobi format. The strategic role of product management how a marketdriven focus leads companies to build products people want to buy 5 product management is a wellunderstood role in virtually every industry except technology. When selling a product line, a firm has to consider the costs of communicating about the different products to the consumers. United states army live training transformation lt2. They oversee the product line s full lifecycle, continually shifting funding and resources when the product line s strategy. The ultimate competitive strategy is to choose a specific buyer profile, geographical area, or product niche that allows you to achieve scale gains. An innovation and product management consultant to some of the worlds biggest and best companies, oconnor lays out the essence of great product line strategies. The strategy describes how the product line practices should be employed so that the product line organization will achieve its production goals. In the equation for profitability, p, the r stands for revenue, and c stands for costs. The products are similar and focus on the same market sector. Once your product grows steadily, you should be able to carry out this exercise if it is helpful. It is also linked to the execution plan for further development.

A matrix approach article pdf available in journal of marketing january 1976 with 390 reads. A framework for deconstructing and improving product lines strategies. For decades, a common strategy of firms has been to offer multiple brands andor brand variants which compete within the same product category. The production strategy is critical to the success of that product line. Pricing and product line strategy in a supply chain with risk. In fact, most products actually belong to a line sold through the same distribution channel and this is true for cars, dog foods, electronic equipment, or even raw materials or travel tour packages. This article develops a mathematical product line model that analyzes the marketing strategy implications of product interdependency. Product line management is fundamental to the new it. Pdf linking product line strategies to competitive advantage. Sometimes experience may show that improving an existing product may be more profitable and. Formulation of a production strategy for a software. Pdf effects of brand portfolio and product line strategy on brand. Alternatively, because this is how a strategy works, the brand also has to decide. This whitepaper shares an indepth exploration of product line strategy and roadmapping.

Consumer preferences and productline pricing strategies. Market research for a new product introduction pricing strategy tuesday 329 lecture thursday 331 class discussion on a. A product line is a related set of products offered by a firm. Product line analysis is part of product line development. Product decisions are central to shaping both the corporate and. For example, apple offers computers, smart phones, tablets, mp3 players, smart watches, and online services. Software product lines are of strategic importance to the organizations that adopt them, affecting.

Dealing with product line strategies is nevertheless one of the most important areas in. Manage and improve product strategy like any other business process. The model presented here provides a means of predicting, or justifying, a marketing mix for a product with given characteristics. It outlines the steps needed to bring your vision to life, reach your target market and overcome any challenges that may arise. A pricing and licensing model that aligns with the revenue model and financial goals of the corporate strategy. Goals, priorities and strategies outlines the goals, priorities, and strategies to meet the mission 3 4 overarching goals aligned with mission.

Selling your product if you follow the steps inside, you will be able to get past the idea stage and hold your finished product in your hand. At such times, brands design the product strategy the product strategy determines all the steps which a brand will have to take to make the product a success. These efforts yielded a new, highly successful product line tailored to younger americans and customers in india, china, and other emerging markets. Life cycle productline management objective the lcpm contract will establish a deliberate approach to life cycle management lcm proactively address all life cycle phases maintain or improve systems performance and operational readiness ensure relevancy improve system maintenance while reducing total ownership costs. Discuss different product mix and productline strategies. A product line is a group of products that a company creates under a single brand. A group of individual products that are closely related in some way. A capabilities strategy for successful product development. It is the marketing strategy of offering several related products for sale. Product line strategy in this case study sawtooth technologies conducted research into consumer preferences regarding mortgage product lines, modeled preferences for client and competitive products, and recommended an unexpected product strategy. Lt2 uses a common architecture with common data, standards, processes, and components. Benefits and savings this template will save you time and effort in creating a similar template from scratch.

One strategy for improved efficiency in patient care while keeping quality high is utilization of a product line matrix. Since its launch a few years ago, sales of the new product have grown twice as fast as sales of its traditional products, and now account for more than onethird of all units sold. Pdf this paper investigates the effects of brand portfolio and product line strategy of cellphone brands market share in china. We study the pricing and product line strategy of a riskaverse manufacturer who sells her products through a riskaverse retailer. The 3 types of product line stretching and why companies take. When selling a product line a firm has to consider the costs of communicating about the different products to the consumers. Marketing strategies for mature industrial products. A product vision and value proposition that addresses target customer need and strongly positions the product in the market. The report describes product line analysis in the context of product line development and shows how a requirements model is built based on object modeling, use. 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. Thus, product line width is a depiction of the number of product lines which a company has. Pepsi, for example, is a case of a company that has managed to restructure itself by adopting a strategic focus. Product line pricing is more effective when there are ample price gaps between each category so that the consumer is well informed of the quality differentials.

So, before embarking on a productline contraction strategy, the firm should compare each item with that of the competitors and assess its relative strength or. Link the product linestrategy with the product development plan and process. This report will tell you exactly how you can launch your own product line but we cant do it. This study addresses the outcome of utilizing a product line strategy consisting of 3 service lines during the past 5 years at the university of wisconsin hospital and clinics uwhc. There are five common product line pricing strategies captive pricing, leader pricing, bait pricing, price lining, and price bundling. Click download or read online button to get a strategic analysis of colgate s toothpaste product line book now. The new design was a proquality, portable contractor fan for use on construction sites in hot, humid conditions. The marketing mix established for one product may affect the sales of another product. This type of market stretch is observed when a brand is present in the middle or the upper premium markets but does not want to lose the lower level markets which might have a high level of consumption or which might pose a threat to the middle and upper level of market.

P r c setting a price for a product or service can be a chal. This 2001 report provides a practical introduction to product line requirements modeling. Mar 14, 2020 the width of the product mix is equal to the number of product lines within a company. Analysis strategies for software product lines 3 we refer the reader to a recent survey benavides et al. Assign process ownership to an individual with technical marketing skills. This technical note describes a technique, which is based on wellknown procedures for defining and evaluating a business strat. A product strategy is the ultimate vision of the product which also explains the direction of your product efforts. Lawrys defense distribution strategy tuesday 45 lecture tuesday 47 class discussion on. He shows how to deconstruct a product line strategy into a system of parts, and to rebuild the strategy through brilliant pivots and strategy. Product strategy tuesday 322 lecture thursday 324 class discussion on truearth healthy foods. The 3 types of product line stretching and why companies. One brand concentrates on one price brand but the larger brands have the deep pockets to start multiple product lines which can target multiple customer segments, premium or otherwise. Jan 17, 2017 it addressed the need to move air to enhance the environmenta hunter fan brand proposition, confirmed by research and accepted by home depot.

How to launch your own beauty products start a cosmetic line. The product based strategy is a bruteforce approach. Web to pdf convert any web pages to highquality pdf files while retaining page layout, images, text and. Jan 22, 2019 a smart product strategy can give you a competitive advantage and ensure that your business will become successful. A product strategy outlines a companys strategic vision for its product offerings by stating where the products are going, how they will get there and why they will succeed. Product line managers work with all relevant business stakeholders to create a strategic capability and investment roadmap for each product line. Key words research design, data collection techniques, strategies, product line, brand identity etc. A strategic analysis of colgate s toothpaste product line. Each of these would be considered a separate product line and under each product line they could offer a broad range of different products designed for different needs.