Question

A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. Group of answer choices multibrand private brand line extension product line new brand

Answer 1

A product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges.

What is a group of products that are closely related?

• A collection of related products is referred to as a product line.

What is a group of products called?

• A group of related products made by the same company and sold under the same brand is referred to as a product family.
• A business may develop a product family to capitalize on the devoted following of its original brand.

What is product group?

• A set of departments, classes, subclasses, or things that are gathered together for a specific objective is known as a product group.
• SIM employs product groups for the following purposes to plan and carry out various stock count procedures (Problem Line, Unit, and Unit and Amount product groups).

What is product and types of product?

• Consumer products and industrial products are the two primary categories into which items are divided.
• Consumer goods are those that the final consumer buys for personal use.
• The customer buys these consumer goods to fulfill his own wants and requirements.

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