A group of closely related product items is called

• A. Product Range
• B. Price Elasticity
• C. Product Portfolio
• D. Product Line

Answer: (D)

Think about how a company organizes its offerings. A product line is a group of closely related items that are marketed under the same brand to meet a similar need. These items share the same core product category and target audience, and they’re designed to complement each other through variations like size, flavor, or color while staying within the same family. That’s why a set of related products, such as different flavors of a single beverage or different models of a single gadget, is described as a product line.

A product range is broader: it includes all the different product lines a company sells, spanning multiple categories. A product portfolio is even wider still, covering everything a company offers across brands and markets. Price elasticity, on the other hand, is a concept about how demand responds to price changes and doesn’t describe a grouping of products.