absolute cost advantage
n. competitive advantage that a company has over another which is achieves by means that result in lower average costs (such as: cheaper inputs, cheaper source of raw materials, waste minimization) | ||||
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Absolute Cost Advantage definition was found in categories: Business & Finance(1)
Absolute Cost Advantage Definition from Business & Finance Dictionaries & Glossaries
| MONASH Marketing Dictionary |
Absolute Cost Advantage
the cost advantage one company has over another if it has a cheaper source of raw materials, control of superior knowledge through patents, cheaper manufacturing or assembly costs, or similar benefit.
the cost advantage one company has over another if it has a cheaper source of raw materials, control of superior knowledge through patents, cheaper manufacturing or assembly costs, or similar benefit.