product-line

Vocabulary Word

Definition

'Product-line' refers to an array of related products that a company creates and markets under a single brand, often catering to different consumer needs or preferences. It's like when a clothing company sells both shirts and pants under the same collection.

Examples in Different Contexts

In software, a company’s product line could range from basic to advanced versions of their software, catering to different user needs. A product manager could state, 'Our diversified product line ensures that we have offerings for both new users and tech-savvy professionals.'

Practice Scenarios

Marketing

Scenario:

Our recent market research highlights diverse consumer preferences. Such findings require us to think innovatively about meeting these different consumer needs.

Response:

In response to the new consumer needs, it makes sense to develop a new product line to cater to these preferences.

Startup

Scenario:

As our startup grows, we must explore fresh ideas that appeal to high-end consumers looking for premium offerings.

Response:

I agree. Launching a luxury product line could tap into a new market segment and significantly boost our sales.