Product variation

Also known as: Product modification

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

example

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.

Summary

  • Product variations change the existing product
  • new target groups can be developed
  • sales can be increased
  • Forms of product variation: upgrading, downgrading, sidegrading
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