F2F Class Notes 4th March (Joseph)

Vocabulary

Integrate – to unite or combine something (e.g. It will take some time for the government to integrate the new smoking laws into Shanghai society.)

Vertically integrated – when one company is in direct control of both upstream and downstream

Product line – the assortment of different product models that share similar characteristics. (e.g. The Galaxy S5, S6 and S7 are all in the same product line.)

Product category – the assortment of different product models that all share the same features. (e.g. The Galaxy S5, S6 and the Note 5, Note 6 are both apart of the same product category.)

Expanding the product line – creating a new product in the product line to satisfy customer wants

Product line filling –  to fill in the gaps in a product line and give customers what they want.