Question
Distinguish between product item, product line, and product mix. Describe various product line strategies. (10)
Explain briefly the 'product life cycle concept' in marketing management and state why do you feel it is useful to understand this concept.
Answer :
Word Count : 551
A product item is a specific product that a company offers for sale. It is a distinct unit identified by its size, model, colour, quality, price, or other characteristics. For example, a company like Hindustan Unilever may offer a particular variant of Dove shampoo. A product line is a group of closely related products that satisfy similar needs, are sold to the same customer groups, or use similar distribution channels. For example, Dove may have a product line consisting of shampoos, conditioners, soaps, and body washes. A product mix is the complete range of all product lines offered by a company. Thus, a company may have several product lines such ___ _______ _______ __________ _______ ____ _______ _____.
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A product item is a specific product that a company offers for sale. It is a distinct unit identified by its size, model, colour, quality, price, or other characteristics. For example, a company like Hindustan Unilever may offer a particular variant of Dove shampoo. A product line is a group of closely related products that satisfy similar needs, are sold to the same customer groups, or use similar distribution channels. For example, Dove may have a product line consisting of shampoos, conditioners, soaps, and body washes. A product mix is the complete range of all product lines offered by a company. Thus, a company may have several product lines such ___ _______ _______ __________ _______ ____ _______ _____.
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