The Boston Matrix, also known as the BCG Matrix, is a tool used in brand marketing and product management to help companies decide what products to keep, develop, or discontinue. It categorizes products based on market growth and market share.
Line extension refers to the addition of another variety of a product to an already established brand line of products. This strategy helps brands to capitalize on their existing reputation and market base, offering consumers more options while remaining under the trusted umbrella of the original brand.
Private brands are product brands owned by a retailer or wholesaler rather than the manufacturer. They are typically sold at a lower price compared to national brands.
A product line refers to a group of products manufactured by a firm that are closely related in use and in production and marketing requirements. The depth of the product line indicates the number of different products offered within that line.
A Product Manager is responsible for the planning, development, and overall strategic execution of a product throughout its lifecycle, ensuring that it meets market needs and aligns with the company's business objectives.
The assortment of merchandise made or held for sale by a business; a crucial element of marketing strategy.
A store brand, also known as a private label, refers to products that are manufactured by one company but sold under another company's brand, typically a retailer's own brand name.
