A product line extension is a business strategy where a business introduces new features or variations in the same product category under the same brand. It is opposite to a brand extension where the company launch an entirely new product under the product category.
In a product line extension, for example, a cola company introduces new flavours, colours, packaging to the same drink which is already offered in the market. Product line extension help companies identify and fulfil new consumer demands.
There are 2 ways by which product line extension is done. In horizontal extension, price and quality remain same while new variations in taste, color and packaging are introduced, In vertical extension, product quality and prices are increases or decrease to introduce luxury or cheap products.
Burberry has positioned its brand in the minds of consumers to be
What is a product line extension strategy? Provide an example of
Think of a company that you’re familiar with that has grown via
What is the difference between a line extension and a brand extension
