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What is the difference between a negative and a positive externality? Give an example of each.
Competitive Improvement
The process of enhancing a company's market position by improving its competitive capabilities, such as efficiency, product quality, or innovation.
Problem Recognition
The initial step in the buying process, where a consumer identifies a need or problem that requires a solution.
Information Search
The process by which consumers gather details about products, services, and other relevant information to make an informed purchase decision.
Vendor Ratings
Refers to evaluations or assessments of a vendor's performance, quality, reliability, and value by customers or industry analysts.
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