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Discuss How the MPS Is Evaluated in Terms of Cost

question 31

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Discuss how the MPS is evaluated in terms of cost.


Definitions:

Commoditized

When a product becomes indistinguishable from others like it on the market and competes mainly on price.

Differentiation

The method of differentiating a product or service to make it appeal more to a specific target audience.

Utility

The total satisfaction or benefit derived from consuming a good or service.

Convenience

The aspect of a product or service that relates to the ease of use and the degree to which it saves time and effort for the consumer.

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