The product mix of a company is the total composite of products offered by that organization. A product line is a group of products within the product mix that are closely related, either because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.

Product-line decisions are concerned with the combination of individual products offered in a given line. The responsibility for a given product line resides with a product-line manager (sometimes called a product-group manager), who supervises several product managers who, in turn, are responsible for individual products within the line. A product is a distinct unit within the product line that is distinguishable by size, price, appearance, or some other attribute. Decisions about a product line are usually incorporated into a divisional-level marketing plan, which specifies changes in the product lines and allocations to products in each line. Product-line managers normally have the following responsibilities: (1) Consider expansion of a given product line; (2) consider products for deletion from the product line; (3) evaluate the effects of product additions and deletions on the profitability of other items in the line; and (4) allocate resources

to individual products in the line on the basis of marketing strategies recommended by product managers.

One strategy organizations can employ to help sell their products is to use brand-identification strategies. Brand identification is generally defined as creating a brand with positive consumer benefits, resulting in consumer loyalty and repeat purchasing. Other benefits of brand identification include (1) strong in-store recognition,(2) stronger competition against competitors' products, (3) better distribution, and (4) better in-store shelf position. Organizations have four basic types of branding available: individual brand names, family brand names, product-line brand names, and corporate brand names.

Individual brand names can be used to establish brand identification without reference to an integrated product line or to the corporate name. Each brand is sold individually and stands or falls on its own. Family brand names involve the opposite strategy—including the firms' total product mix under one family name. The corporate name, rather than the brand name, is emphasized in order to leverage the high-quality name of the organization. This can reduce advertising and marketing costs. Product-line brand names involve a strategy midway between an individual brand name and a family brand name strategy. All brands within the product line have a common name. Product-line brand names are used when a company produces diverse product lines that require separate identification. Some companies employ the corporate brand name strategy. This strategy associates a strong corporate entity with a brand while maintaining the brand's individuality. If successful, it provides the advantages of both a family brand name and an individual brand name strategy.

An important concept for any product-line manager is the product life cycle, which is defined as the various stages a product goes through (introduction, growth, maturity, and decline). The primary function of the introduction stage is to create a solid brand name for the new product. Television, Internet, radio, and print advertisements are coordinated to provide the maximum brand awareness. In the growth stage, the company focuses on creating loyalty to the specific product and also attempts to make minor improvements. Advertising emphasizes the benefits of the product, since the name is already known. When the maturity stage begins, sales start to level off because of increased competition, changes in consumer behavior, or technological advances that make the product less desirable than that of its competitors. In this stage, a company may decide to put limited resources into an advertising campaign to boost sales or create a new image. In addition, minor adjustments might be made to packaging (e.g., a new label) to reattract consumers. The decline stage occurs when sales begin to decline. The company needs to choose between modifying the product to increase sales or discontinuing the product when it finally cannot generate acceptable profits.

The product life cycle is an extremely important element when a company reviews its product line. One of the best ways to extend the life of a product and product line is for a company to use a revitalization strategy. When this tactic is used, the company changes the marketing plan and looks for new markets for the existing product line and the products within it. Here too it is critical that the company is successful in repositioning the product to new market segments. Another method used to extend the life cycle of a product line is a line-modernization strategy, which focuses on either upgrading the entire product line or modernizing specifics products within the line in order to spark new consumer interest in the product or entire product line.

Other general product-line strategies include product-line additions, product-line deletions, and holding strategy. Product-line additions involve adding new products to a product line so new market segments can be covered. Product line deletions involve removing a product that has not performed well or is not making enough money. A holding strategy involves maintaining the status quo. The product line stays the same and no major modifications or marketing strategy changes are planned. In order to have a profitable product line, the product line manager will need to employ a variety of the strategies.