Question

What are products, product mixes, product lines? Why do marketer’s continue to modify products, and product lines? Explain ways that they can modify products, and extend product lines. Give two examples.

Answer 1

Products are those which company manufactures and launches in the market so that customers can buy that and fulfill their basic needs and desires. Product mixes refer to the total number of product lines a company is ready to launch in the market for its customers. Product Line refers to the different products selling in the market under the same name as a company. Basically, it is a group of various products that a company sells under their name so that they can capture the market with different products and can provide satisfaction to their customers. Modification in product and in product lines is very crucial and necessary because you cannot sell the same type of product to your customers. Advancement in your products is necessary to attract customers so that they won't shift to your competitor's product. An example of modification of product lines can be of smartphones. You see there so many companies launching different models of their smartphones and after every launch, they put something new in their smartphones to attract their customers with new technology and modification. Another example of modification of a product line for a product can be of footwear. Hair big multinational companies try their best to put their best quality in their products to attract their customers and there every product is launched with some modification which is necessary to grab the attention of their customers towards the product.