Examlex
In valuing merchandise for inventory purposes, net realizable value is the estimated selling price less any direct costs of disposal.
Product Differentiation
The method of making a product or service stand out from the competition in order to appeal more to a specific target group.
Narrow Market
A market segment characterized by a specific and often limited customer base, interests, or area of focus.
Cost Leadership
A competitive strategy where a company aims to become the lowest-cost producer in its industry or market.
Labor Specialization
The process of dividing work into unique tasks performed by different individuals, improving efficiency and expertise.
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