Product Line Examples
Please tell me the example of product line, product mix, product extension and product filling of the particular company.
In any given company, a product line refers to a variety of different products that are related and grouped together by the same company. Product lines are used as a means to enlarge the consumer base by appealing to consumer demand through the introduction of a diverse range of products.
For example, a consumer may not like Starbucks coffee, but maybe they will like Starbucks ice cream. Both products are grouped under the Starbucks product line, so Starbucks profits from the sale of both. More broadly, a product mix refers to the total number of product lines that a company owns.
This includes the width, length, depth, and consistency of the company’s product mix. Width is the total number of product lines a company owns, length is the total number of products, depth is the total number of alternate versions of the product, and consistency is the degree of similarity between each product line in relation to each other.
An example of product mix would be Starbucks’s inclusion of both whole bean and dark roast coffee. In contrast, product extension simply refers to the expansion of the product line to include product alterations that meet market demand. This extension could include introducing lower-priced products (down-market), higher-priced products (up-market), or both (two-way).
Starbucks would be an “up-market” stretch. Finally, product filling refers to the increase in the number of products within a given product line in order to meet market demand. An example would be Starbucks introducing Pumpkin Spice Lattes in order to meet seasonal demands.