Asked by
Jennifer Ligonde
on Dec 15, 2024Verified
Which of these is a way that a product line might be defined?
A) Products are made of similar materials.
B) Products are sold to the same customer group.
C) Products were new at the same time.
D) Products are identical except for price.
E) Products require high levels of R&D.
Product Line
A group of related products marketed by a company, often sharing a common brand, target market, or utilitarian function.
Customer Group
A segmentation of customers based on shared characteristics, behaviors, or needs, often targeted with specific marketing strategies.
R&D
Research and Development, which involves investigative activities that a business chooses to conduct with the intention of making a discovery that can lead to the development of new products or procedures.
- Familiarize oneself with the structure and elements constituting a product mix and product lines.
Verified Answer
MS
Learning Objectives
- Familiarize oneself with the structure and elements constituting a product mix and product lines.