Examlex
The radical change involved in JIT II is that suppliers' employees work onsite with the customer's plant and there is a sharing of what is normally confidential information.
Product Differentiation
The process of distinguishing a product or service from others, to make it more attractive to a particular target market.
Total Market
The entirety of the demand and supply for a particular good or service across all its potential markets.
Monopolistically Competitive
A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power and product differentiation.
Oligopolistic
Pertaining to a market structure characterized by a small number of firms controlling the majority of the market share, often leading to coordinated or interdependent market behavior.
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