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Home > QFINANCE Dictionary > Definition of product mix

Definition of

product mix

Operations & Production

variety of products sold by business the variety of product lines that a company produces, or that a retailer stocks. Product mix usually refers to the length (the number of products in the product line), breadth (the number of product lines that a company offers), depth (the different varieties of product in the product line), and consistency (the relationship between products in their final destination) of product lines.

Related definitions of "product mix"

Recommended Further Reading (Term count)
  • Profitability Analysis Using Activity-Based Costing
    by Priscilla Wisner
    Cost allocation in firms can provide misleading information about the profitability of products, product lines, customers, and markets. Traditional cost allocation practices allocate all manufacturing overhead costs using a single driver such as direct labor hours, direct labor dollars, or machine hours. Sales-related costs are typically ignored. While technically accurate, in most complex organizations a single overhead cost driver is not...
  • Aligning the Internal Audit Function with Strategic Objectives
    by Ilias G. Basioudis
    Given today’s complex and rapidly changing management climate, companies must implement continuous improvements to achieve efficiency, and assure investors and other concerned parties of solid corporate governance.The recent scandals at Enron, Worldcom, Parmalat, and others have raised the profile of corporate governance across the globe. Trust in the process of financial accounting, corporate governance, and auditing has been undermined by...
  • Activity-Based Costing
    Activity-based costing (ABC) attempts to create the big picture—crystal-clear, full, and accurate—by painting assorted little pictures.ABC identifies the relationship between a business activity and all the resources needed to conduct it by assigning costs to each of those resources, thus presenting the true total expense of the entire activity. ABC can account for so-called “soft,” or indirect, operating costs, and thus produce a more...
product mix - Related Articles

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Definitions of ’product mix’ and meaning of ’product mix’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’product mix’ and other financial terms with our online QFINANCE Financial Dictionary.

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