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Commoditization
The process in which goods or services become interchangeable with others in the same market, leading to competition primarily on price.
Mature Markets
Markets that have reached a state of equilibrium characterized by the absence of significant growth or innovation.
Transactional Marketing
A business strategy focusing on single, "point of sale" transactions, emphasizing maximizing the efficiency and volume of individual sales rather than developing a relationship with the buyer.
Buyer-Seller Relationship
The interaction and ongoing connections between a buyer and a seller, often focusing on long-term engagement rather than one-time transactions.
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