Creating a product line is a complex task that requires special consideration. Often, entrepreneurs make five common mistakes when working on this task:
The problem of insufficient development of the sales funnel arises . It is necessary to implement logical integration of active sales products. This means that at least one product must be provided for each stage.
A common mistake that manufacturers make is to develop new products based on guesswork and assumptions , without taking into account the real needs of the target audience. To really make money, you need to study your customers carefully and understand what they really want and need.
Mistakes when creating a product line
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A single product can rarely satisfy all employment data paqckage the needs and preferences of consumers. This is understandable, since a single product does not offer a wide choice.
No premium products are presented. There will always be those who crave exclusivity. For such people, you need to offer something unique and exquisite.
No changes. Time passes, trends change, new technologies and unique service formats appear. In order not to end up at a loss, it is necessary to check the product line at least once a year. It is possible that you will have to remove some items and add new ones.
Avoid these mistakes. Only a well-thought-out product line development strategy will lead you to success.
Download a useful document on the topic:
Checklist: How to Achieve Your Goals in Negotiations with Clients
7 Simple Product Line Examples
If you want to have a good understanding of the strategy of selling through the product line, you don’t have to study marketing in depth and reread endless books. The answer is right in front of you – in the nearest store or the blog of a successful entrepreneur. Here are some examples:
Yandex.Taxi is a professional company specializing in passenger transportation. It offers a wide range of tariffs (from business to economy class), courier delivery. They have cars equipped with child car seats and other offers.
Skillbox is a leader in the field of education. All services offered are divided into product lines: mastering negotiation skills, English for teenagers, and more.
Nestle is a company specializing in providing services in the field of nutrition. The product matrices are KitKat bars, Nan baby food and other products.
Leovit is a company that sells dietary nutrition programs. The variety of available product lines includes the following products: “Lose Weight in a Week,” “Healthy Snack,” “For Moms,” and many more.
Microsoft Corporation is a well-known brand that offers several popular product lines: the Windows operating system, the MS Office office suite, and the Xbox gaming platform.
Nike Inc. Specializes in the production of products for various sports: athletics, football, basketball. The company's range includes specialized lines of footwear, clothing and sports equipment.
Starbucks Corporation offers a wide range of products: coffee, ice cream, drinkware.