A product mix is a group of everything a company sells. However, the product line is a subset of the product mix. A product line refers to a unique product category or product brand a company offers. For example, Patanjali deals in different categories of products which include shampoo, flour, toothpaste, etc.
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What is product line example?
Examples of Product Lines
The company’s product lines include footwear, clothing, and equipment. The various product lines for Starbucks Corporation (SBUX) include coffee, ice cream, and drinkware.
What is product line length with example?
Length refers to the total number of products in a firm’s product mix. For example, consider a car company with two car product lines (3-series and 5-series). Within each product line series are three types of cars. In this example, the product length of the company would be six.
What is a product mix?
A product mix is the total number of product lines and individual products or services offered by a company. Additionally referred to as product assortment or product portfolio. Product mixes vary from company to company.
What is the product mix of Coca Cola?
In reality Coca cola has a very large product portfolio). The product line in this case is 3. This is because there are 3 core product lines within the product mix – Soft drinks, Minute maid and mineral water. This is the basic explanation of how to analyse the product mix of any company.
What is Apple’s product line?
Company Information
(Apple) designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories and sells a range of related services. The Company’s products include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and accessories.
What is the difference between product and product line?
A product delivers a single feature set that gives benefits to a customer. It can be physical, a service, or digital. Or it may be a combination of types. Product lines are groups of related products.
What is the meaning of product line?
A product line refers to an array of related products under the same brand. In other words, a product line is a collection of similar products that are sold to customers.
How do you create a product line?
5 Steps to Launching a New Product Line
- Define Your Target User. Do you want to create something that your existing customers will love, or something that will attract new customers?
- Product Validation.
- Develop a Go-To-Market Strategy.
- Set The Pre-Launch Stage.
- Develop the Next Product.
What is the difference between a product line and a product mix quizlet?
A product line is a group of products within the product mix that are closely related, either because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.
What is the importance of product mix and product line?
Companies with large product lines often focus on product mix. Focusing on product mix allows companies to analyse the needs of customers so that they can introduce some new products to the line. It helps businesses to fulfil the demands of their customers better.
What are the types of product mix?
In general, there are 6 types of product mix pricing used by any organisation to take care of their product mix and product lines.
- Let us discuss each type of product mix pricing in detail.
- 1) Product line pricing.
- 2) Optional feature pricing.
- 3) Captive product pricing.
- 4) Two part pricing.
- 5) By Product pricing.
Why is product mix is important?
Importance Of Product Mix
Product mix helps determine in which direction your company is heading, and the data accumulated by it helps you determine where you want to lead the company. It also helps you to be consistent with your targeted customers.
What is the product mix of Samsung?
Mobile devices- Smartphones like Samsung Galaxy series, Tablets, Wearables, Phones Accessories. Samsung Home Appliances- Refrigerators, Cooking Appliances, Washing Machines, Air conditioners, Vacuum cleaners. TV/AV – Samsung Television, Accessories, Audio and Video accessories.
Does Coca-Cola have a product line?
Peace Tea. Powerade sports drinks. Simply juices and Simply Spiked adult beverages. Schweppes.
How many product lines does Coca-Cola have?
Coca-Cola has a product portfolio of more than 3,500 beverages (and 500 brands), spanning from sodas to energy drinks to soy-based drinks.
Are Iphones a product line?
The iPhone is a line of smartphones designed and marketed by Apple Inc. These devices use Apple’s iOS mobile operating system. The first-generation iPhone was announced by then-Apple CEO Steve Jobs on January 9, 2007. Since then, Apple has annually released new iPhone models and iOS updates.
How many product line does Apple have?
Now, under Cook’s leadership, the lineup has ballooned to 27 products available in more than 200 different versions. The strategy – a departure from co-founder Steve Jobs’ minimalist approach – is helping Apple grow even as the market for its most-important product, smartphones, stalls.
How Apple uses the 4Ps?
Marketing mix focuses on specific 4Ps variables of product, price, place, and promotion. In developing its marketing mix, Apple uses a strategy that promotes premium branding. This approach aims to focus on the premium brand and ensure that all 4Ps support the maintenance of a strong brand image.
What’s another word for product line?
Similar words for product line:
business line (noun) line of business (noun) line of merchandise (noun) line of products (noun)
What is product line management?
Product Line Management is an organizational scheme and alternative management system for focusing on the programmatic scope of operations in order to achieve particular objectives.