Examlex
Hardware consists of programs that tell a computer how to function.
Research and Development (R&D)
The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.
Production Function
An economic model depicting the relationship between input combinations and the maximum output that can be produced with those inputs.
Differentiating
The process of distinguishing a product or service from others to make it more attractive to a particular target market.
Brand Positioning
Marketing strategy that aims to create a unique impression in the customer's mind so that the customer associates something specific and desirable with the brand that is distinct from the rest of the marketplace.
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