Businesses often offer products meant to sell individually but are part of a line of similar products. This concept, creates a subtype of the business brand, and results in loyal buyers. A product line is a collection of similar items offered by the same firm under a single brand name. Companies sell many lines under distinct brand names in order to differentiate them from one another. This is for the better customer usage. Consumers are more inclined to acquire items from brands with which they are already familiar. Thus companies frequently extend their offers by adding to current lines. The product mix or product portfolio of a firm refers to the combination of product lines it offers.
This concept is a collection of similar items by the same firm under a single brand name. Firms market a variety of it under numerous brand names. Distinguishing them based on price, quality, nation, or intended audience. Consumers buy items from brands they recognize. Thus businesses frequently extend their offers by adding to current product lines. Except in the case of a loss leader, when product line discontinues if they become unprofitable. A company’s product mix is its whole range of product lines. Companies build lines as a marketing approach to collect sales from customers who already buy the brand.
Consumers are more likely to respond positively to brands they already know and love, and will be eager to buy new items based on their previous positive experiences with the brand. To promote brands to new customers, companies add new goods to their lines, which is referred to as a product-line extension. Companies can expand their reach by extending lines.
