Wednesday, December 1, 2010

Product Line Management Products – An Effective way to Market Products?

If you have a chain of software products, then it can be well managed with the help of Product Line Management. You must employ a strategy to sell these related products or chain of products. A line of products are those which are related to each other in the type, quality and size etc. This way you can create a family branding by having several closely related products under one brand.

At a later stage if you want to add another new product, this would be termed as line extensions. With brand leveraging, you try to improve up on quality on this new product. This requires a creative strategy to market this chain of products. Rejection on one, will affect the other products in the same chain. When a product is doing well or not functioning well, it can influence the profit and losses of other products in the chain too. This is because the products in the same chain have a greater consistency and are closely related to each other. Hence, there is greater vulnerability as rejection of one will influence the others too.

One must make use of creative brand management techniques to these products in chain. This would help enhance equity of a brand. Never commit the mistake of trading down. Incase you add a product which is inferior in quality in comparison to other products in the same chain, then the whole chain of items may face rejections.

Get more information on Product Management, Outsourced Software Development

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