Product range is a concept that defines all the products offered by a brand and belonging to the same category.
Products in the same range therefore have a more or less similar functionality.
For example, a cosmetics brand may divide its offer into different ranges, such as hair care, face care, makeup, or beauty accessories.
Within the same range, another division may also take place.
For example, the makeup range can be divided into eye products, lip products, complexion products, etc.
The range is then built according to three different criteria:
A company’s product range can also be classified according to its quality and price: high-end, mid-range, or low-end.
Ranges enable each product to be classified according to functionality and target audience. They can evolve over time to best meet demand and boost product sales.
Whether B2B or B2C, some businesses prefer to offer customers a small range, others a large one. Each technique has its advantages and disadvantages.
A small range, for example, reduces the cost of inventory management and enables the business to focus its marketing strategy on a smaller assortment of products, simplifying ecommerce merchandising, for example. On the other hand, it’s more sensitive to competition and the risk of product obsolescence.
A large range offers better coverage of customer needs and is less vulnerable to market competition. However, it leads to higher storage, distribution and marketing costs, as well as a longer return on investment.
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