What does line stretching mean in marketing?
Line stretching is an expanding strategy by a company where the new products are launched in the same product line but beyond the current product range with some additional or different features. Line stretching can be done down market, up market or both ways.
What are different types of product line stretching?
There are three approaches to stretching the product line, namely:
- stretching downwards.
- stretching upwards.
- stretching both ways.
Which example is considered to be a product line upward stretching?
The examples of upward product line stretching in the automobile industry are Honda, Toyota, Lamborghini, Bentley, Acura, and Volkswagen. These brands followed the upward stretching decision and offered premium products.
What is an example of brand stretching?
Brand stretch: a launch of a new product into a completely different and unrelated category e.g. Galaxy Creamy Hot Chocolate with Marshmallows or Robinsons Classic Fruits Sweets.
What is line stretching with example?
For example BMW automobiles are located in the upper price range of the automobile market. Line stretching occurs when a company lengthens its product line beyond the current product range. The company can stretch its line down market or up market or both ways.
What is a brand stretch strategy?
Brand extension or brand stretching is a marketing strategy in which a firm marketing a product with a well-developed proposition uses the same brand name in a different product category.
What is product line featuring?
a strategy in which certain items in a product line are given special promotional attention, either to boost interest (at the lower end of the line) or image (at the upper end). See: Product Line.
What makes a good product line?
A company will develop a product line based on the type of business it is, its particular expertise, and its marketing strategy. Market testing, R&D, and advertising campaigns are all important to bring a product line to market.
What is product line example?
“A product line is a group of related products produced by one manufacturer. For example, products that are intended to be used for similar purposes or to be sold in similar types of shops.” If you have several products with something in common, you can put them into one group.
How do you expand a product line?
The easiest way to expand your product line is to go vertical in your niche. Expand your product line with products that aren’t easily found elsewhere. In fact, this is one of the biggest advantages an independent online retailer has when it comes to sourcing: sourcing products that are not found at your local store or one of the major online sites.
What are examples of product lines?
Product Line Definition. A product line is a group of products that are closely related and are promoted together. For example, when a company creates a group of products that deal with hygiene, such as shaving cream, soap and shampoo, this is known as a product line.
What is line stretching?
Definition: Line Stretching. Line stretching is an expanding strategy by a company where the new products are launched in the same product line but beyond the current product range with some additional or different features.
What is product line filling?
Product line filling is the addition of further items to the current line of products that a company is dealing in.