A product line is a group of products related to one another and are all marketed under one single brand name sold by the same company. Many companies also sell multiple product lines under different brand names.
Companies will often expand their offerings by adding products to existing product lines, because consumers are usually more likely to buy products from a brand they already know. When a company blends product lines, it is known as a product portfolio or product mix.
A product line is a group of products that are related to one another and produced by only one manufacturer. These products are usually intended to be sold in similar shops and/or markets and used for similar purposes.
A company’s power is often measured by how many product lines it has. This metric might also show the competitors in the marketplace how competitive a specific company is.
To launch a new product line, companies usually go through five stages: defining their target user, product validation, developing a go-to-market strategy, setting the stage pre-launch, and finally, developing the next product.
A portfolio product manager fulfills tasks from assigning resource quotas to optimizing Return of Investment, assessing where to make improvements, and making sure the portfolio aligns with the organization’s strategy.
The PPM (Portfolio Product Manager) has an overview of multiple products from a wide range of divisions within the company and must have a fundamental understanding of how the products in the product lines relate.
Usually, a business will create the role of PPM once they have started growing as a company and when the product lines begin to multiply. While a Product Manager for a single product must be a tactical person, the PPM must have an excellent overview and a strategic mindset.