I thought the company had a really great product line with a whole variety of products that worked great for me. Product line length the number of different products in a product line. However, the product line is a subset of the product mix. A product line is a group of products that a company creates under a single brand. It encompasses the rapid elicitation, analysis, specification, and verification of the requirements for a product line. We will discuss about how a company manages its products. Product line article about product line by the free. Generally, there are three price bands which exists in any market lower priced products, middle priced products and premium products. Clear explanations of natural written and spoken english. Determining whether to create, expand or retire product lines is part of the overall product line strategy.
For example, general foods has about a dozen different products in its coffee product line. Therefore, attention must be directed to defining a product and the product mix. Perhaps their physical attributes, prices, quality, or type of customers are the same. For example, apple offers computers, smart phones, tablets, mp3 players, smart watches, and online services.
Product line definition, all of the products carried by a manufacturer, wholesaler, or retailer. Product line is too short if profits can be increased by adding items to product line. Urban and others published a model for product line decisions find, read and cite all the research you need on researchgate. Maybe their function or channel distribution are the same or similar. The product managers job is to work out how many products to include in the product line. A product line is a group of related products produced by one manufacturer. Without proper appreciation of what these terms mean from a marketing. The committee on definitions of the american marketing association has defined productmix as the composite of. Product line meaning in the cambridge english dictionary. Product line management is fundamental to the new it operating model digital transformation requires cios to rethink the way it operates. A company may sell multiple products under one product line, and it can also have multiple product lines under its brand. A product mix is a group of everything a company sells.
A product line is a group of related products all marketed under a single brand name that is sold by the same company. Product line is a group of products that are closely related either because they satisfy a class of need, or used together, are sold to the same customer group, are marketed through the same types of outlets, or fall within given price ranges or that are considered a unit. Product line definition and meaning collins english. A product line is a group of products that are closely related manufactured by a single company. Product line decisions building a strong product line. Stretching the product line the marketing study guide. The process of expanding business opportunities through additional market potential of an existing product.
Product line definition of product line by the free. The width of the product mix is equal to the number of product lines within a company. This close relationship comes from several product attributes. A product line is a group of related products produced by one manufacturerthe companys most successful product lines.
Product line stretching definition in the cambridge. Thus, product line width is a depiction of the number of product lines which a company has. The product line length within a company keeps changing. Product line pricing is a product pricing strategy, used when a company has more than one product in a product line.
Information about product line in the dictionary, synonyms and antonyms. Product line management is fundamental to the new it. The department of veterans affairs va office of information and technology oit is strategically shifting toward a devsecops approachfocused on collaboration, innovation, agile principles, and automationso that it can develop, enhance, maintain, and roll out better products at a faster pace than using the existing separate. A product line is a similar group of products that are sold by the company under the same brand. Product line is too long if profit can be reduced by dropping items from product line.
Product line definition is all goods made by a manufacturing firm. Thus, taking the above example, if there are 4 product lines within the company, and 10 products within each product line, than the product line width is 4 only. A long product line has lots of different products in it and a short product line has a small number of different products. Product knowledge detailed knowledge of a product s features and benefit s required by a. The basic product policy strategy issues at the product line level cluster around the following questions. Product line pricing is generally used by companies and retailers in order to separate goods and services into cost categories in order to create various perceived quality levels in the minds of consumers.
Software product lines challenge traditional analysis techniques, such as type checking, testing, and formal veri cation, in their quest of ensuring correctness and reliability of software. Every product is made at a cost and each is sold at a price. A product line is a related set of products offered by a firm. Top synonyms for product line other words for product line are line of products, product range and range of products. Companys objectives also influence product line length. Often the product may be improved, altered or changed, or new marketing activities are developed.
Each of these would be considered a separate product line and under each product line they could offer a broad range of different products designed for different needs. The products are similar and focus on the same market sector. Product line management plm va enterprise architecture. Setting products at different price points allows the wouldbe customer to orient themselves towards the one most likely to fit their needs and spending capabilities.
Product item a product variant with its own distinctive attributes price, packaging, etc. Product line modernization a strategy in which items. Company a has wide variation in the length of its product line, defined as the count of features sold in one marketquarter. The price that can be charged depends on the market, the quality, the marketing and the segment that is targeted. For example, patanjali deals in different categories of products which include shampoo, flour, toothpaste, etc. A product line in business is a group of related products under the same brand name that is manufactured by a single company. A product line refers to a unique product category or product brand a company offers. It is a process that traders adopt to separate products in the same category into various price groups, to create different quality levels in the customers minds. Product line can be understood as an array of related products, under a specific brand, offered by a particular company to its customers. Product lining definition of product lining by the free. Proper usage and audio pronunciation plus ipa phonetic transcription of the word product line. The simple definition is that a product line is a group of related products, differentiating by features and price. Guidelines for developing a product line production plan. A product mix also called a product assortmentis the set of all products and items a particular.
Clements and northrop define a software product line as follows clements 01 a software product line is a set of softwareintensive systems. Pdf a model for product line decisions researchgate. A software product line is a set of software products that share a common set of features. Product line managers must also consider the product life cycle for each product in the line, including introduction, growth, maturity, and decline. Product lines represent ongoing streams of work that are funded topdown based on their strategic importance. Product line scope and product line analysis define the boundaries and requirements of the software product line, based on the business goals of the. Product lining synonyms, product lining pronunciation, product lining translation, english dictionary definition of product lining. Product line management differs from the typical projectcentric approach to funding and delivering work in a handful of ways. Line stretching is an expanding strategy by a company where the new products are launched in the same product line but beyond the current product range with some additional or different features.
Marketers must determine the assortment of products they are going to offer consumers. Product line is a group of product items that can satisfy the same needs and wants, they have more or less similar features. The 3 types of product line stretching and why companies. The depth of the product line refers to the number of different products offered in a product line. Product definition a product service is the most important component of the marketing mix being the centre of focus as the offer to the market.
Companies sell multiple product lines under their various brands. A product line is a group of related products under a single brand sold by the same company. Line stretching can be done down market, up market or both ways. Product decisions or policy and strategy are concerned with the management of the products product portfolio and brand management a product is any offering to the market for attention, acquisition, use or consumption that might satisfy a need. Product line analysis is part of product line development. The premise of product line analysis is that a sound initial understanding of the problem to be solved is essential before an organization embarks on a software product line as a solution.
Product line management plm overview and plm structure. Product offerings and product line length dynamics stanford. Amul offers a series of closely related products such as milk, butter, ghee, dahi, yoghurt, ice cream, srikhand, gulab jamun, flavoured milk, chocolate, etc. A fm is defined as a tree structure represented by a tuple funcs, f0,mand,opt,alt.
Companies sell multiple product lines under their various brand names, seeking to distinguish them from each other for better usability for consumers. A product line is a group of related products produced by one manufacturer, for example. Decisions on a product line level important and complex decisions are also made at the product line level, which tend to determine the length of a companys product mix. Software product lines spls, or software product line development, refers to software engineering methods, tools and techniques for creating a collection of similar software systems from a shared set of software assets using a common means of production. Diversification may be achieved by entering into additional markets andor pricing strategies. At the center of the new it operating model is product line management, explains cebs matt mcwha. Product line definition of product line by merriamwebster.