Crayola now offers Crayola bubble bath shampoo. The strategy of expanding the line by adding new models has enabled companies like Seiko (watches), Kraft (cheeses), Oscar Mayer (lunch meats), and Sony (consumer electronics) to tie up a large amount of shelf space and brand recognition in a product category. Diet Cherry Coke and caffeine-free Coke are line extensions. When a firm introduces a product that has a new brand name and is in a product category new to the organization, it is classified as a new product.Ī new flavor, size, or model using an existing brand name in an existing category is called a line extension. Marketers have several different terms for new products, depending on how the product fits into a company’s existing product line.
Gary Hamel and Nancy Tenant, “The Five Requirements of a Truly Innovative Company,” Harvard Business Review,, April 27, 2015.
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