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Product line management refers to the whole method of managing a software chain and other allied products. It refers to put into use innovative marketing procedures to the existing product line. In today’s competitive world, retention marketing is of great significance, because customers and clients easily get attracted to new products and services that are available in the IT market.

Product line management also involves delivering related products singularly and not creating all of them at one go.  Though they are separate from each other, yet they have a line of similarity. At the same time, there might be consistency to ascertain this similarity. Therefore, it is always advised to have brand leveraging executed by introducing a new line in the existing product line, which is of a higher quality. Further, this enhances the brand equity value and helps in increasing trading scopes.
Leading providers in product line management offer solutions that are designed in such a way to enable customers manage their EOL initiatives. In addition to that, it also reduces the customer’s migration expenses and sorts out other allied concerns. Few benefits of PLM are as listed below-

1. There is a certainty with regards to the PLC expenditure
2. Offers effective risk management
3. Work towards eliminating management distractions and hindrances
4. Clients are able to maintain top-line of revenue as well as bottom line profits for the IP and product line
5. Helps in delivering guaranteed operating income enhancements for PLC related expenditure
6. Works towards eradicating the requirement to concentrate on product engineering, product management, technical support functions and other allied professional services
7. Clients are able to preserve end user associations for cross-sell and up-sell opportunities
8. Offers the scope to feed a selected few additional revenues back into marketing initiatives in order to boost revenue expansion

The different service areas that the innovative product line management solutions addresses are listed below:-

1. Revenue Protection
2. Revenue Optimization
3. Modernization
4. Category Renewal

In today’s fast and competitive market a sound product line management solution or strategy provides an edge to your company to retain more clients as well expand the existing product line.