What are two ways of increasing line and length in product management ?

The correct answer is - Line stretching and line filling

Key Points

• Line stretching
  • Refers to expanding a product line by introducing products at different price points or quality levels.
  • It allows companies to target new customer segments (e.g., introducing premium or budget versions of existing products).
  • Commonly used to address gaps in the market or to cater to specific consumer needs.
• Line filling
  • Involves adding more items within the existing product range to reduce gaps between existing offerings.
  • It is focused on capturing customers who might have been underserved by the current product lineup.
  • Ensures that the company maximizes its market share while improving customer satisfaction by offering tailored solutions.

Additional Information

• Line extension
  • Refers to using an existing brand name to launch products in the same category (e.g., new flavors or sizes).
  • Helps in leveraging the brand's equity to expand the product line.
• Category extension
  • Involves using a brand name to introduce products in a new category.
  • For example, a clothing brand launching accessories under the same name.
• Brand extension
  • Allows a company to use its existing brand name to enter new markets or categories.
  • Example: A food brand launching beverages under the same brand name.