One of the things which confuses many beginners in Marketing is the product hierarchy. There are just too many types of product classes like Product line, product mix, product type etc. However, this article tries to make it all simple.
To understand the product hierarchy, we will have to look not at a single product but the business as a whole. So in this example, we can take Volkswagen as a company and we will try to understand the Product hierarchy of Volkswagen. [Read more…]