Question

What is a product family?  

From course:   Reg Compliance Logistics Mgrs

Answer 1

Answer:

Product family:
An item family is a gathering of related merchandise delivered by a similar organization under a similar brand. An organization may make an item family use the dependability of existing clients toward its unique image.

The item family supplies a variety of items that are comparative yet meet somewhat various requirements or tastes, possibly drawing in more clients. Clients can depend on their positive past encounters with a brand while picking another item.

Understanding a Product Family:

The individual items in an item family are frequently very comparable. Their organization, bundling, and estimating might be almost yet not exactly indistinguishable. That consoles customers that they are getting an item actually like one that they know, use, and trust, however with a marginally unique reason.

Key points:

1. An item family is an assortment of integral items advertised under a similar brand name.

2. An item family uses the client's trust and dependability procured for the first brand.

3. Making an item family can be an expense-proficient path for a business to extend its variety of contributions.