What is the difference between product line and product item

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Popular Courses. Business Marketing Essentials. What Is a Product Line? Key Takeaways A product line is a group of connected products marketed under a single brand name by the same company. Firms sell multiple product lines under their various brand names, often differentiating by price, quality, country, or targeted demographic. Businesses often expand their offerings by adding to existing product lines because consumers are more likely to buy products from brands they already know.

Product lines should be abandoned if they prove unprofitable, except in the case of a loss leader. The full portfolio of product lines is a company's product mix.

Stars show high growth and high market share, and can be highly profitable. Cash Cows have high market share but low growth, usually products that have been on the market for some time.

Problem Children have low market share but show potential for lots of growth. The uncertainty makes for the riskiest investments among companies.

In managing a product portfolio, managers essentially have three directions: growth, maintenance or reduction. Maintenance includes new or improved design or packaging, or finding new uses of current products.

Companies can expand the product mix by extending lines, usually based on price point, such as introducing a low-priced baseline model to attract entry-level customers.

Product line is a group of product items that can satisfy the same needs and wants, they have more or less similar features. For example, Bajaj Auto Ltd. The similarity may be seen in one or more ways. Product line consists of product items belonging to same class. Product line consists of closely related product items. Difference is only found in terms of colour, size, shape, model, performance, weight, and capacity. Product items are complementary to one another.

For example, tube, tyre, and related materials. There is difference in price. For example, Hero Honda charges different price for different models. The purpose of offering similar items in each of the product line may be to attract customers by offering more varieties, and to create a good image or reputation. Product items in each of the product lines are distributed in same distribution channel. That is, similar outlets market them. Product items in each product line function in same manner. They need same technical skills to use them.

Product items are various varieties offered within product line, which are similar in one or other ways. Successfully reported this slideshow. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime. Product Items, Lines and Mixes.

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