The concept of product range
Posted: Sun Dec 22, 2024 7:57 am
Before we look at the issues of forming the product range, let's look at the terminology. The concept of "range" is of French origin. Its literal translation sounds like "selection of goods by different types". You can find many definitions of this term.
As a rule, it is understood as a list of products with different prices, characteristics and completeness that the company offers. Each position of such a list must satisfy the specific saudi arabia mobile number needs of a potential buyer.
The concept of product range
The products included in this list, as well as their consumer properties, are determined based on the following characteristics of the range:
saturation: the volume of goods and services in a specific category of consumer demand;
depth: the presence of a wide range of products in a separate group;
compatibility: an indicator of the compatibility of several product groups that have similar selection criteria. In this case, we are usually talking about the retail assortment;
novelty: adding new items to the list alongside those that are already well known to consumers and popular.
The characteristics described above are assessed in the form of coefficients that demonstrate the level of approximation of the actual indicator to the planned one. By analyzing the quantitative expression of such properties in the process of forming a marketing strategy, specialists build a situational model that demonstrates the qualitative level of the company's assortment.
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Types and structure of product range
Depending on the location of the products, the following types of assortment are distinguished:
Industrial: goods and materials produced in a certain branch of industry. One of the types of such nomenclature is manufactured products. In this case, the range consists of goods produced on the basis of raw materials of a specific type of industry.
Retail: products sold in stores.
In accordance with the differences in the width, size and depth of the product line , as well as taking into account the number and types of product items, the following classification of the assortment can be given:
Simple: characterized by a minimum number of subgroups and product names.
Complex: in this case we are dealing with a large number of subcategories and products.
Group: characterized by the homogeneity of the included positions.
Expanded: contains a large number of subgroups and names.
Branded: consists of goods of the same brand.
As a rule, it is understood as a list of products with different prices, characteristics and completeness that the company offers. Each position of such a list must satisfy the specific saudi arabia mobile number needs of a potential buyer.
The concept of product range
The products included in this list, as well as their consumer properties, are determined based on the following characteristics of the range:
saturation: the volume of goods and services in a specific category of consumer demand;
depth: the presence of a wide range of products in a separate group;
compatibility: an indicator of the compatibility of several product groups that have similar selection criteria. In this case, we are usually talking about the retail assortment;
novelty: adding new items to the list alongside those that are already well known to consumers and popular.
The characteristics described above are assessed in the form of coefficients that demonstrate the level of approximation of the actual indicator to the planned one. By analyzing the quantitative expression of such properties in the process of forming a marketing strategy, specialists build a situational model that demonstrates the qualitative level of the company's assortment.
Read also!
"USP examples to help you come up with your own that's even better"
Read more
Types and structure of product range
Depending on the location of the products, the following types of assortment are distinguished:
Industrial: goods and materials produced in a certain branch of industry. One of the types of such nomenclature is manufactured products. In this case, the range consists of goods produced on the basis of raw materials of a specific type of industry.
Retail: products sold in stores.
In accordance with the differences in the width, size and depth of the product line , as well as taking into account the number and types of product items, the following classification of the assortment can be given:
Simple: characterized by a minimum number of subgroups and product names.
Complex: in this case we are dealing with a large number of subcategories and products.
Group: characterized by the homogeneity of the included positions.
Expanded: contains a large number of subgroups and names.
Branded: consists of goods of the same brand.