Companies usually offer a product line instead of just one product to:
A. appeal to similar consumer markets
B. tailor their offerings more closely to consumer wants
C. meet the competition
D. reduce their marketing costs
Answer: B. tailor their offerings more closely to consumer wants
The businesses have a set of products (rather than only one) to appeal more closely to the specific needs of a customer as well as be able to cater alternatives to their main offering. The spectrum of products associated with the same segment or the brand gives a company an opportunity to judge the needs, preferences, and budgets across the diverse group of consumers on the basis of how the products differ. This way they also get more customers who might not be with their rivals. Thus, this provides them with higher chances of fulfillment of different consumer needs.
Selling a product line would help businesses give options in regard to the features, sizes, styles, price points, and some extra advantages in order for a product to be available for various customer categories. The use of this technique contributes to companies effectively satisfy the diverse needs of the potential customers together with their wants.