May change as industries and firms change eg

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may change as industries and firms change e.g., Victoria’s Secret was 70% apparel but is now 70% beauty and fragrance How did Netflix start out? Moral of the story: It is key to continually ask What business are we really in? Who are our true competitors? 1 1
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Product & Competition through Customers’ Eyes Define competition broadly Autos compete with other means of transportation (bus, train, air, taxi Uber) 12
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Product Line Complexity & Balance Built on customer expectations Packages & differentiates horizontally and/or vertically 13
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Product Lines: Breadth and Depth Product mix - A company’s product lines Breadth - Number of product lines Frigidaire sells refrigerators, washers, dryers, ranges, etc. Depth - Number of products in a line Frigidaire refrigerators have different sizes and features 1 4
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Product Line Strategies Product line managers can prune or supplement existing lines 15
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Discussion Who’s doing these well? Who needs to change their strategy? 16
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Summary Products are goods and services They’re central to the marketing exchange Goods and services share similarities and differences Services are relatively more intangible, inseparable, perishable, and variable Products are a bundle of both core and value add elements Product lines both enhance and complicate the offering propostition 1 7
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  • Spring '18
  • Marketing, Supply chain management terms

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