Marketing Lesson 5-2

When a company makes changes to its existing products or product lines.

• Contraction

• Consistency

• Alteration

• Brand Extension

Leveraging an existing brand to introduce new products.

• Brand Extension

• Alteration

• Consistency

• Depth

This refers to how closely related a company’s product lines are to one another.

• Consistency

• Brand Extension

• Depth

• Length

When a company stops carrying a product or reduces the size of the product line.

• Length

• Expansion

• Alteration

• Contraction

The total number of variations within a product line.

• Line Extension

• Depth

• Expansion

• Length

Adding products or product lines to a company's product mix.

• Product Mix

• Product Line

• Expansion

• Depth

The total number of items in all product lines.

• Positioning

• Length

• Depth

• Consistency

Adding related products to an existing product line in an existing target market to meet different needs.

• Line Extension

• Positioning

• Product Mix

• Product Item

  When a company, through various marketing efforts, forms an image for customers to react to and connect with in the target market.

• Depth

• Positioning

• Product Line

• Length

A product is something that meets a customer's want or need and has value in the marketplace, whether a tangible good or an intangible service.  All marketing activities start with and revolve around the product.

• Trading Up

• Product Item

• Width

• Trading Down