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Prost was the first automobile company in the world to introduce child safety locks in its vehicles. This feature soon became a major selling point for consumers all over the world. As a result, other automobile companies began providing a similar feature in their vehicles. In this scenario, which of the following is most likely to have influenced other companies to install child safety locks?
Useful Life
The estimated period of time over which an asset is expected to be used before it is fully depreciated.
Selling Price
The amount a customer pays to purchase a product or service.
Value-based Pricing
Pricing strategy where the price is based on the perceived value of a product or service to the customer rather than the cost of production.
Industrial Grinder
A machine tool used in manufacturing for grinding, which is a process of removing material using abrasion.
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