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Price Reduction
A decrease in the regular selling price of a product or service, usually to stimulate sales or clear inventory.
Value-Based Pricing
is a strategy under which the sale price of a product or service is determined primarily by the perceived value to the customer rather than by the cost of production.
Preventive Maintenance
Regular and systematic inspection, cleaning, and replacement of worn parts, materials, and systems to prevent unforeseen failures and maximize efficiency.
Useful Life
The estimated period over which an asset is expected to be usable by the entity owning it, for its intended purpose.
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