PRODUCT MIX Definition

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PRODUCT MIX involves planning and developing the right type of product that will satisfy fully the needs of customers. A product has several dimensions. These dimensions are collectively called product mix. Product mix for example may consist of size and weight of the product, volume of output, product quality, product design, product range, brand name, package, product testing, warranties and after sales services and the like.

Learn new Accounting Terms

SURCHARGE is a charge added on top of another charge for a specific service, product or purpose.

PURCHASE MONEY AGREEMENT is an agreement under which a person pledges the property or item bought as security.

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