Examlex
Most direct marketers apply the R-F-M formula to select customers.Explain this formula and how it is used to select customers.
Patents
Legal documents granted by the government that give an inventor exclusive rights to make, use, or sell an invention for a certain period of time.
Imitation
The act of copying or mimicking the strategies, products, or processes of individuals or enterprises, often seen as a way to gain a competitive advantage or innovate.
Fast-Second Strategy
A business approach where companies wait to see which innovations prove viable and then quickly follow with improvements and cost reductions.
Collusion
A situation in which firms act together and in agreement (collude) to fix prices, divide a market, or otherwise restrict competition.
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