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Brand loyalty
Brand loyalty measures the extent to which customers repeatedly choose a brand over competitors.
Diversification
Diversification refers to a strategy where a company expands its product offerings, markets, or industries to reduce risk and increase growth opportunities.
Economies of scale
Economies of scale occur when a business's average cost per unit decreases as its production scale increases.
Market research
Market research is the process of gathering, analysing, and interpreting information about a market, including its customers, competitors, and trends.
Price elasticity of demand
Price elasticity of demand measures how sensitive consumer demand is to changes in price. This helps businesses predict the impact of pricing decisions on sales and revenue.