How Is Product Mix Width Defined

question 48

Multiple Choice

How is product mix width defined?

• A) the number of different product categories found within an industry
• B) the number of different product lines an organization offers for sale
• C) the average number of products offered by the company
• D) the average number of products within each product line in the company

---

Definitions:

Representativeness Heuristic

A cognitive shortcut where people categorize situations or individuals based on how similar they are to typical cases or categories they know.

Prototypes

Original models or first forms from which subsequent forms are derived or developed; in psychology, widely accepted examples of a certain category.

Heuristic

A mental shortcut or rule of thumb that simplifies decision-making but may not always lead to optimal outcomes.

Framing

How information is presented affects how that information is perceived and influences decisions.