Creating a product line is one of the ways to attract customers and increase business profits. Different company products are aimd at their audience. A wide range of products allows you to offer the client more and fully cover their neds. In this article, we will tell you what a product line is, how the product matrix works and how to manage it.
Product line and relatd concepts
A product line is a list of goods and services of a company indonesia phone number list united by similar characteristics and purpose. One brand can have several product lines at once. Umbrella branding also works , but here the main brand has sub-brands with their own range.
Some examples: products for a specific hair type, different tariff plans from a telecom operator, a variety of courses in an online school.
Differences from similar concepts
We have already mentioned several concepts that need to be clarified.
Assortment
Product range is a list of all the products offered by a the need for growth manufacturer or brand. The range is divided and combined into different product lines. This makes it easier for customers to navigate the variety of offers, and for businesses to promote and sell their products.
Product Line Matrix
A product matrix is a sales strategy for a company’s product line. This concept is broader than just a list of similar products. A matrix can include several product lines.
Why should a business create its own line of products or services?
Let’s look at the benefits of a product line for business.
Increase profits
A large selection of products within a line allows you italy numbers to sell more and maximize profits. As in our example with hair products, where a cosmetics brand offers a large assortment line. In addition to shampoo, the buyer will also buy a balm, mousse, mask, and styling spray.