Examlex
Facility layout is not only concerned with the arrangement of physical facilities, but also the material handling capabilities within the facility.
Penetration Pricing
A pricing strategy where the price of a new product is intentionally set lower than the competition to gain market share quickly.
Price Skimming
A pricing strategy in which a company charges the highest initial price that customers will pay for a new product, then gradually lowers the price to attract more price-sensitive customers.
Variable Costs
Costs that change in proportion to the level of activity or volume of output in a business, such as raw materials and labor costs.
Fixed Costs
Expenses that do not change with the level of production or sales, such as rent or salaries.
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