Examlex
The information processing model has four major steps or stages: exposure, attention, interpretation, and memory.
Product Differentiation
The process by which companies distinguish their products from those of competitors in the eyes of consumers, through unique features, design, quality, or branding.
Concentration Ratio
A measure used to determine the market share or relative size of the top firms in an industry as an indicator of the level of competition.
Standardized Product
Products that are uniform in quality and performance, produced in large quantities, and often interchangeable with products from different manufacturers.
Nonprice Competition
A marketing strategy where companies compete on factors other than price, such as product quality, service, or branding.
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