product mix

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Product Mix

The set of goods and services a company provides. Generally speaking, a company offering a wider product mix carries less risk but also usually has a lower profit margin. That is, the profit margin for a company like Wal-Mart may not be high, but so long as most of its products have strong sales, it is in no danger of bankruptcy. On the other hand, a company may only offer a few products; this is high risk because there may be low demand for the products, but specializing in a niche market can result in exceptionally large profits.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

product mix

The composition of goods and services produced and/or sold by a firm. A limited product mix tends to increase the firm's risk at the same time it increases the potential for large profits. Thus, a firm specializing in a niche market in electronics is likely to experience great success or large losses depending on how demand and competition develop for its specialized output. Also called sales mix.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

product mix

see PRODUCT RANGE.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

product mix

the mixture of PRODUCTS offered by a FIRM. Since most products tend to follow a typical PRODUCT LIFE CYCLE, it is expedient for companies to maintain an appropriate mix of newly launched products, growth products and mature lines. In addition, the firm may choose to offer a range of similar products to appeal to different sectors of the market as part of a MARKET-SEGMENTATION strategy. A firm will generally consider its product mix in the context of its broader MARKETING (embracing price, advertising, etc.). See also PRODUCT MARKET MATRIX.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
FMS One and RoboFMS One are a new generation of flexible manufacturing systems engineered to handle shorter product lifecycles, higher product mixes and lower volumes.
Fungicide demand will be affected by two trends in product mixes: the switch to synthetic fungicides over commodities in developing regions; and the need for more sophisticated, effective products in developed nations.
Taipei, July 31, 2012 (CENS) -- Amid the faltering global economy, Formosa Plastic Group's affiliates in Taiwan have geared up to upgrade their product mixes to boost profitability with higher-profit products prepared for economic turnarounds in the years to come.
Unlike Seifoddini, who looked at multiple product mixes for a single period, Harhalakis et al.
In developing and emerging markets, personal care sales jumped 13%, driven by strong volume growth and currency benefits in Latin America, along with higher selling prices and improved product mixes in all regions.
HAS INTRODUCED WHOLE-GRAIN AND LOW-CARB PRODUCT MIXES THAT ALLOW IN-STORE BAKERS TO JUMP ON THE BETTER-FOR-YOU BANDWAGON.
The profitability of the product mixes selected with the TOC and ABC in the Low (1992) and Spoede et al.
There are undoubtedly many appropriate proportions of product mixes that might successfully represent a societal-marketing orientation.
In spite of the wide variation of possible product mixes, a general management concept can be drawn up.
O'Brien adds that - especially for cities, with their ethnic diversity - such precision can be invaluable in tailoring promotional mailings and even product mixes.
These might include reducing costs and changing manufacturing procedures or product mixes. These suggestions will help management improve performance.
As retailers continue to gravitate to destination presentations and hybrid product mixes, we will grow together.

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