GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Product line
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Product mix
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Either A or B
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None of the above
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Detailed explanation-1: -A product line is a group of related products all marketed under a single brand name that is sold by the same company. Companies sell multiple product lines under their various brand names, seeking to distinguish them from each other for better usability for consumers.
Detailed explanation-2: -Companies sell many product lines under various brand names, and the products are mainly differentiated by quality, price, and targeted demographic. There are different brand types: corporate brands, product brands, personal brands, service brands.
Detailed explanation-3: -What Is a Product Family? A product family is a group of related goods produced by the same company under the same brand. A company may create a product family to leverage the loyalty of existing customers toward its original brand.
Detailed explanation-4: -A product group is a collection of departments, classes, subclasses, or items that are grouped together for a common purpose.