A product variation helps to “freshen up” a product for the market. Its sales will be increased with appropriate measures.
Definition / explanation
A product variation is about providing an existing product with a new concept or a new image. Another benefit for the target group can be the basis of a variation. The product variation is part of the Product life cycle, which ranges from the introduction to the final stop of production.
Forms of product variation
A distinction must be made between different forms of variation:
- Upgrading - the quality improvement with a higher price
- Downgrading - a better price-performance ratio
- Sidegrading - Change of the offer with the same level of performance
An example of a product variation can be a simple design change (sidegrading). If a company decides to produce a fruit-flavored lolly that was previously only available with peppermint flavor, that is a product variation.