Product family,
Definition of Product family:
The family offers similar products, but caters to slightly different needs or tastes and has the potential to attract more customers. When choosing a new product, consumers can rely on their past positive experiences with their brand.
A group of products derived from a common product platform. These products or services use the same or similar production process, have similar physical characteristics and can share customer segments, sales channels, pricing methods, advertising campaigns and other elements of the marketing mix. Family products usually have an affordable price and packaging. Many product families build product portfolios. Also known as product group or product line.
A product family is a group of related products manufactured by the same company with the same brand. Companies can create a combination of products with the original brand to increase customer loyalty.
How to use Product family in a sentence?
- A product family is a collection of complementary products marketed under the same brand.
- A family of products uses the trust and loyalty of consumers who deserve the original brand.
- Creating a family of products can be a lucrative way to grow your company's product offerings.
Meaning of Product family & Product family Definition
