A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a product class. product mix. product line. product category.

Question

Business

Madelyn Sanchez

2 May, 09:32

A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a product class. product mix. product line. product category.

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Answers (2)

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Bennett Hinton · Answer 1

Answer: Product Line.

Explanation: When a company/Manufacturer produces a group of products that is under a single brand, it is called a Product Line. Manufacturers / companies most times add to existing product lines to increase the purchasing power of thier consumers because Consumers tend to buy from brands they already know about than a new one.

Company do these because most times they want thier product line to be sold in the same type of markets, or they do not want to change thier distribution channels

same or similar. This gives them a competitive edge above other competitors.

When a company has many product lines, it tend to create a product mix.

Shannon · Answer 2

Answer: Product line

Explanation:

A product line is a class of products closely related, because they perform the same purpose, sold to identical customer, marketed through the similar outlets types or fall within the same price ranges.

Several businesses offer different product lines that are unique to an organization. For example, in the insurance industry, the product lines are shown by the form of risk coverage which can either be commercial insurance, auto insurance and life insurance.