Examlex
Entrepreneurs that have a high ability to institute professional management practices but have low growth aspirations have "little potential" for growth.
Product Differentiation
A marketing strategy that businesses use to distinguish their products from similar offerings in the market by varying features, branding, or quality.
Price Competition
A market situation in which companies attempt to win customers by offering lower prices than their competitors.
Waste of Resources
The inefficient use of materials, labor, energy, or capital that does not maximise potential utility or value.
Monopolistically Competitive
In a monopolistically competitive market, many firms sell products that are similar but not identical, allowing for product differentiation and some degree of market power over prices.
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