Question

Imagine you are running your Soft Drink beverage company . You have one product line . You are now planning to add another product line, Explain   how and   why you will do this ?

Answer 1

Question 1) Imagine you are running your Soft Drink beverage company . You have one product line . You are now planning to add another product line, Explain   how and   why you will do this ?

Answer 1) Adding a new product to a existing product line is not that difficult because you already have the customer database and customer trust with the brand and in such cases it becomes easy to find old customers in a new of potential customers. So let’s talk about few things how and why to add a product line to a existing product line.

1) Why: Companies start a new product line due to few reasons that may vary from company to company some companies want to increase the market share with new product while some try to compete with competitors while other try to set a benchmark in the industry by launching a new product. There can be many reasons why companies add a new product to the product line. For example One plus adding One Plus Nord in their product line to serve customers in mind range market. So in talks of above case I will launch new soft drink to grow market share and market value of my brand.

2) How: Now talking about how to do it is a interesting question, where companies need to ample amount of marketing research do a lot of investment create a separate supply chain and manufacturing system. So these are the steps on how to add a new product line:

· Analysing the customers need

· Doing a market research

· Analysing competitors offerings

· Creating a perfect product by analysing the customers need

· Doing promotion via different ways of advertisement

· Tying up with companies to promote the product

· Creating a optimal supply chain