What is the difference between a product line and the product mix?
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.
The complete range of products present within a company is known as the product mix. In any multi brand organizations, there are numerous products present. None of the organizations wants to take the risk of being present in the market with a single product. If the company has only a single product, than the demand of the product will be too great or the company does not have the resources to expand the number of products it has.
if the business market is any example, than all the top companies have multiple products. Coca cola, Apple, Microsoft, Nestle, Hindustan unilever, Pharmaceutical companies, so on and so forth. These companies need to have a wide product portfolio to be present in the market and to have a sustainable business model. The combination of products that they have in their product portfolio can be the product mix.