Product mix, also known as product assortment or product portfolio, refers to the complete set of products and/or services offered by a company. A mix| Corporate Finance Institute
The laws of supply and demand are microeconomic concepts that state that in efficient markets, the quantity supplied of a good and quantity| Corporate Finance Institute
Substitute products offer consumers choices when making purchase decisions by providing equally good alternatives, thus increasing utility.| Corporate Finance Institute
Standardization is the process of creating standards to guide the creation of a good or service based on the consensus of all the relevant| Corporate Finance Institute
Customers play a significant role in any business. By better understanding the different types of customers, businesses can be better equipped to develop| Corporate Finance Institute
Spoilage literally means wastage or scrap that occurs during the manufacturing process or is badly damaged material that is used for processing a product| Corporate Finance Institute
A licensing agreement is a contract between two parties (the licensor and licensee) in which the licensor grants the licensee the right to use the brand| Corporate Finance Institute
Learn essential management skills with expert guidance from CFI. Prepare for a future in management or leadership with CFI’s online Management Skills courses.| Corporate Finance Institute