Examlex
The division of labor refers to
Low-Cost Strategy
A business approach aimed at gaining a competitive advantage by minimizing costs while maintaining acceptable quality and pricing for products or services.
Rival
A rival is a competitor or opponent who is in contention with another for the same objective or for superiority in the same field.
Differentiation Strategy
A business approach focusing on developing and marketing unique products or services to stand out from competitors and attract customers.
Market Niche
A specific segment of the market that a business targets, often characterized by unique preferences or needs.
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