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Product Line

Refers to a variety of the same products that a business produces for customers of a particular market. Products in a product line typically differ in colour, size, price, or quality so that there is a greater chance that each product meets the needs of different customers.

Product Mix

Also known as product assortment describes the variety of the different product lines that a business produces.

Product Range

Refers to all product lines of a firm's product mix. i.e. all the products sold by the business.

Consumer Products

These are products that are purchased by private individuals for their own personal use.

Producer (industrial) products

Are those that are purchased by businesses, rather than aimed at consumers. They are used in the production process to help the running of the business. (i.e. ram materials to make products).

Fixed assets

Land, machinery, tools, and other equipment.

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