Examlex
________ is the first step in the systems development life cycle which defines the business need for the project, assesses its importance to the company, and determines whether the project is feasible.
Marginal Cost
The additional financial burden of creating another unit of a product or service.
Price Elasticity
The extent to which consumer demand for a good changes in response to a change in the good's price, represented by the ratio of percentage change in demand to percentage change in price.
Product Differentiation
The process by which companies distinguish their products from those of competitors, through design, features, branding, quality, or other attributes.
Product Differentiation
The process of distinguishing a product from others in the market to attract a specific target market.
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