Product Line Management

The creation or introduction of a good or service that is either new, or an improved version of previous goods or services

• Product Innovation

• Product Line

• Brand Management

• Product Strategy

Answer explanation

Product Innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services

A small part of a larger market that has its own specific needs

• Target Market

• Niche Market

• Demographics

• Target Audience

Answer explanation

Niche Market is small part of a larger market that has its own specific needs, which are different from the larger market in some way

A group of similar products that has the same function. This is the area or space where brands compete.

• Market Category

• Market Share

• Market Position

• Market Segmentation

A set of related offerings that function in a similar

manner, are sold to the same target customers, and/or are

distributed through the same channels.

• Brand Extension

• Co-Branding

• Market Category

• Product Line

Answer explanation

Product Line refer to a set of related offerings that function in a similar manner, are sold to the same target customers, and/or are distributed through the same channels.

Which one is not part of the Competitive Product Line Strategies

• The Horizontal

• The Fighter

• The Sandwich

• The Good-Better-Best

Answer explanation

Horizontal product-line extensions - Offerings

in a horizontally differentiated product line typically belong to the same price tier and differ primarily in the type of benefits they offer