Managing product lines in any business of products or services requires a great deal of time, effort, thought, and expenses. Realizing which products to include, how to extend the product line, which items to erase, etc. are all very important factors of managing product lines. Sometimes, when dealing with product lines, you have to deal with product lines that were projected to be a success, and were not. Here I will discuss a specific product line that failed:
Mary Kate and Ashley Olsen: known for their role in Full House as children and eventually in many other roles in straight-to-movie videos as children, have made quite the name for themselves. As most celebrities have done admist fame and fortune, Mary Kate and Ashley Olsen have tried to extend their name into product lines outside of their own knowledge. The twins have created product lines of make-up, hair products, teen clothing, and have now moved onto room decor for teens.
It is clear that their make-up line has done poorly from their original projection. The intent was to make the line popular to high end retailers, though the product ended up in the hands of Wal-Mart with the title "Mary-Kate and Ashley: real fashion for real girls". The products, so difficult to even find online, are not high end and have reported poor sales.
In this instance, what should be done is remove the product line completely. Although, Mary-Kate and Ashley have decided to keep the product line in Wal-Mart stores and directed attention to a new product line of high-end fashion (prestigious product lines) called "The Row". The high end pricing is definately not "real fashion for real girls" but instead "upscale fashion to upscale women". This product line has reported great sales. The prestigious pricing has caught consumer attention and actually brought in revenue for the pair.
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