The Importance of Planning Product or Service Lines


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question 1 of 3

In business, which is a method for product lines to create value to customers?

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1. What is a product line in business?

2. Which of the following is an example of a business with product lines for customers?

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About This Quiz & Worksheet

How is a product line defined? What is the importance of familiarity when it comes to product lines? These are details you must be able to explain when you gauge your knowledge with this quiz/worksheet combo.

Quiz & Worksheet Goals

This assessment is designed to measure your ability to:

  • Recall a method for product lines to create value for customers
  • Define a product line in business
  • Identify an example of a business offering product lines to customers
  • Select a factor that is unimportant when businesses relate to customers
  • State why familiarity is important for product lines

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson, such as how product lines can create value for customers
  • Defining key concepts - ensure that you can accurately define a product line
  • Interpreting information - verify that you can read information regarding the importance of familiarity for product lines and interpret it correctly
  • Knowledge application - use your knowledge to understand which factors are and are not important regarding product lines when businesses related to their customers

Additional Learning

You can expand your knowledge of this business topic by exploring the lesson titled The Importance of Planning Product or Service Lines. You will learn more details about the following:

  • What results from a business having a strong reputation with the public
  • What is meant by the phrase 'penetrating the market'
  • How cost advantage is explained