What are the product line decision?

Product Line Decisions means a company offers similar products to solve a whole range of similar problems that target customers have. To understand Product Line Decisions simply, we can look at a smartphone manufacturer, like Samsung and Apple.

What is product line length strategy?

One of the key decisions that a firm needs to make is the length of its product line. That means, how many products varieties should the firm offer. Generally, firms look to increase the product line length – the number of similar products offered.

What type of decisions affects the product line?

Product Mix: Top 10 Factors Affecting Product Mix

  • Profitability: Every business unit tries to maximize its profits.
  • Objectives and Policy of Company: Company frames its product mix to achieve its objective.
  • Production Capacity:
  • Demand:
  • Production Costs:
  • Government Rules and Restriction:
  • Demand Fluctuation:
  • Competition:

What is product length?

The length of the product mix means total number of products within the company product lines. For example, if a company has 10 product lines and each line has 3 products, then length is (10×3) = 30. Length of the product mix refers to the total number of products in the mix.

What is product line give example?

A product line refers to a particular good or service that a company makes and markets to customers. A food company may extend a product line by adding various similar or related products (e.g., adding mesquite BBQ flavor to its existing potato chips line), and create a more diversified product family.

What is product line length with example?

Why do we require product line decisions?

Production-Mix Decisions: An organization is required to bring changes in product mix to make it adaptable according to the needs of consumer. Product mix decisions refer to addition, deletion or modification of product in product mix.

What is an example of a product length?

Length – Total Products The length of the product mix means total number of products within the company product lines. For example, if a company has 10 product lines and each line has 3 products, then length is (10×3) = 30. Length of the product mix refers to the total number of products in the mix.

What is the meaning of product length?

Length refers to the total number of products in a firm’s product mix. For example, consider a car company with two car product lines (3-series and 5-series). Within each product line series are three types of cars. In this example, the product length of the company would be six.