What Do Understand By Product Lines?

What is product line length?

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..

What is product line pricing?

Product line pricing involves the separation of goods and services into cost categories in order to create various perceived quality levels in the minds of consumers. You might also hear product line pricing referred to as price lining, but they refer to the same practice.

How do you create a product line?

We’ve put together 5 important steps to take if you want to start your own product line for your business and make it successful.1) DESIGN SOMETHING DIFFERENT. … 2) DESIGN FOR YOUR AUDIENCE. … 3) CHOOSE THE RIGHT GARMENT. … 4) FIND UNIQUE WAYS TO SELL IT. … 5) INCENTIVIZE YOUR CUSTOMERS.

Why is product mix important?

Your product mix is important in determining the image of your business and brand, as it helps you to maintain consistency in the eyes of your target market. For instance, if you’re a discount retailer, your target market likely consists of economy-minded shoppers looking for low prices.

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 product line give example?

Definition: Product Line can be understood as an array of related products, under a specific brand, offered by a particular company to its customers. … Some examples of companies with multiple product lines are Proctor & Gamble (P&G), Indian Tobacco Company (ITC), Hindustan Unilever Limited (HUL), etc.

What is product line and product range?

A product range (or product line) is a group of products (mobile phones, laptops, microwaves, etc.) that have these similar characteristics: are closely related in form and/or function. are similarly priced. are marketed and sold through similar customer groups.

What is Nike’s product mix?

Nike Inc.’s Marketing Mix (4Ps/Product, Place, Promotion, Price) – An Analysis. Nike Inc.’s marketing mix (4Ps) determines the profitability and growth of the athletic footwear, apparel, and equipment business.

What is product mix and 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 product length and width?

The width is all about the number of different product lines the company carries. … The product mix length refers to the total number of items a company carries within the product lines. For instance, Colgate carries several different brands within each line.

What are the 4 types of product?

Marketers usually classify consumer products into these 4 types of consumer products:Convenience products.Shopping products.Speciality products.Unsought products.

What is McDonald’s product line?

McDonald’s menu includes hamburgers and cheeseburgers, the Big Mac, Quarter Pounder with Cheese, and Filet-O-Fish, several chicken sandwiches, Chicken McNuggets, Snack Wraps, French fries, salads, oatmeal, shakes, McFlurry desserts, sundaes, soft-serve cones, pies, soft drinks, coffee, McCafé beverages, and other …

What are 2 main sources of new product ideas?

Sources of new product ideas include company employees, customers, competitors, outside inventors, acquisitions, and channel members. Both solicited and spontaneous ideas may emerge from the sources, and some even occur by accident.

What are the 3 levels of a product?

Three levels of product are involved in any purchase. The levels of product include the core customer value, the actual product and the augmented product.

What is difference between product line and product mix?

All the products a given company produces comprise the product mix, or product assortment. A product line would be a group of these products associated by function, by consumer group, by distribution channel or by price range.