A product line refers to a group of related products that are marketed together as a single unit. Product lines often share a common theme or focus, such as a particular type of product, target audience, or price point. For example, a company that sells outdoor gear may have a product line of camping equipment, another product line of hiking gear, and another product line of water sports equipment.
Product lines can be an effective way for companies to differentiate themselves in the market and offer a range of options to meet the needs of different customers. By creating product lines, companies can segment their offerings and target specific customer groups, allowing them to better meet the needs of these customers and differentiate themselves from their competitors.
It’s important for companies to carefully manage their product lines in order to ensure that they are aligned with the overall goals and strategy of the business. This may involve regularly reviewing the products in each product line, making adjustments as needed to ensure that they are meeting the needs of customers and contributing to the overall success of the business.