Question: What Is Product Line With Example?

What is a product category?

A product category is a type of product or service.

Product categories are typically created by a firm or industry organization to organize products.

Alternatively, product categories can be a flat structure such as a list of product types..

What is a product line strategy?

A product line strategy is a coherent approach to advance related products. It guides managers to improve the performance of their products and services, and to avoid disjointed actions and investments. A good strategy will respond to change, whether major disruptions or incremental.

What is a product item?

A product item is a specific version of a product that can be designated as a distinct offering among an organization’s products. … Product mix width refers to the number of product lines an organization offers. Product line depth is the number of product items in a product line.

What are the product mix decisions?

These are: width, length, depth, and consistency. The first of the product mix decisions refers to the product mix width. The width is all about the number of different product lines the company carries. … A car manufacturer may have several series in its car product line, such as 3-series, 5-series, and 7-series.

What is the meaning of product mix?

Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a firm. A product mix consists of product lines, which are associated items that consumers.

What is product mix Explain with examples?

Product mix, also known as product assortment, refers to the total number of product lines a company offers to its customers. For example, your company may sell multiple lines of products. … Or your product lines may be vastly different, such as diapers and razors.

What is a product width?

Product Width: refers to number of separate product lines offered by a company. For example, the product width of Toyota may be 3, one each for product lines of sedans, pick-ups and SUVs. Product Depth: refers to the number of sub-categories within a product line.

What is product mix and its elements?

The product mix is the variety of products a company produces or sells to the marketplace. … Retailers carry a mixture of products to satisfy various customers. The product mix includes four common elements: Length, breadth, depth and consistency.

What is a product item example?

It is a compose of various similar items. 3. Product items are complementary to one another. For example, tube, tyre, and related materials.

How do you create a product line?

Building your own brand essentially boils down to seven steps:Research your target audience and your competitors.Pick your focus and personality.Choose your business name.Write your slogan.Choose the look of your brand (colors and font).Design your logo.Apply your branding across your business.

What is product line and product range?

These different products can target customers of varying ages, incomes and tastes. … A product range is a set of variations on a specific product made to appeal to different market segments. A product mix is a blend of related products that can be marketed together to similar market segments.

What is product line pricing with example?

Product line pricing In Tourism hospitality Industry Example: The same category of rooms having different rates because of Amenities and facilities. Example: The same sightseeing place experienced by different package rates because of optional services or luxuries.

What do understand by product lines?

A product line is a group of related products marketed and sold under a specific brand, offered by a particular company.

What are the three levels of a product?

In order to actively explore the nature of a product further, let’s consider it as three different products – the CORE product, the ACTUAL product, and finally the AUGMENTED product. This concept is known as the Three Levels of a Product. The CORE product is NOT the tangible physical product.

What is the difference between product mix and product line?

Product Mix. Both manufacturers and retailers must decide on width and depth of a product mix. This is done with strategies that determine a target market and an image. A product line is a group of closely related products manufactured and/or sold by a business.