Product Family

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Dictionary Says

Definition of 'Product Family'

A group of related goods that are manufactured by a single company. Companies benefit from creating product families in that they can leverage the loyalty their existing customers feel toward an existing product to get them to buy additional, related products. Product families also allow companies to attract new customers to their brand by providing an array of products that are similar but meet slightly different needs. Customers benefit from product families because they can rely on their positive experience with an existing brand when choosing a new product.
Investopedia Says

Investopedia explains 'Product Family'

For example, a backyard gardener might have been using the same pesticide for years to control the caterpillars that always try to eat his tomato plants. One year, he decides to try growing sugar snap peas for the first time and discovers that he needs a new product to control a disease, powdery mildew, that is affecting his crop. The company that produces the caterpillar pesticide has an entire family of products to help the home gardener successfully cultivate different crops, so when the gardener goes to the store to purchase a product for his new problem, he looks for one made by the same brand that he is already using. The gardener can shop quickly and get peace of mind by buying from a product family he already has experience with, and the gardening product company gains additional business from an existing customer.
Search results for

'Product Family'

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    ... Financial advisors must become adept at finding solutions for all types of family
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  • Family Dollar Looking For Top Dollar

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    ... and $60 per share, but was swiftly rejected by Family Dollar's management ... By product
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    ... 10 Things Your Family Can Do This Summer For Under $100. Here are some activities
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    ... 10 Things Your Family Can Do This Summer For Under $100. Here are some activities
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  • How To Take A Corporate Approach To Personal Finance ...

    http://financialedge.investopedia.com/financial-edge/0911/How-To-Take-A-Corporate-Approach-To-Personal-Finance.aspx
    ... approach to personal finance could be just what you and your family need. ... Savings
    Products Rates. Click product name to view rates in your area. PRODUCT. TODAY. ...

  • Tax Breaks For Canadian Families

    http://www.investopedia.com/articles/pf/07/family-tax-breaks-canada.asp
    ... 10 Things Your Family Can Do This Summer For Under $100. Here are some activities
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  • Top Estate Planning Tips For Same-Sex Couples - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0911/Top-Estate-Planning-Tips-For-Same-Sex-Couples.aspx
    ... Making your wishes clear to your family can go a long way towards the ... Savings Products
    Rates. Click product name to view rates in your area. PRODUCT. TODAY. ...

  • Dodd-Frank's Consequences - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0212/Dodd-Franks-Consequences.aspx
    ... 2011, George Soros converted his Quantum hedge fund into a single family office,
    returning ... Savings Products Rates. Click product name to view rates in your area. ...

  • The 3 Best Countries For Children And Parents - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1211/The-3-Best-Countries-For-Children-And-Parents.aspx
    ... are continuing to invest in the welfare of youth and the typical family unit ... Savings
    Products Rates. Click product name to view rates in your area. PRODUCT. TODAY ...

  • Become A Certified Financial Divorce Analyst

    http://www.investopedia.com/articles/financialcareers/07/certified_divorce_analyst.asp
    ... marital property, tax considerations, how to split the value of the family home,
    how to use proprietary software to illustrate the ... Product, Today, Last Wk. ...

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