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By-product. A by-product or byproduct is a secondary product derived from a production process, manufacturing process or chemical reaction; it is not the primary product or service being produced. A by-product can be useful and marketable or it can be considered waste: for example, bran, which is a byproduct of the milling of wheat into refined ...
Local purchasing. Local purchasing is a preference to buy locally produced goods and services rather than those produced farther away. It is very often abbreviated as a positive goal, "buy local" or "buy locally', that parallels the phrase "think globally, act locally", common in green politics . On the national level, the equivalent of local ...
Purchasing is the procurement process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations.
Product (business) In marketing, a product is an object, or system, or service made available for consumer use as of the consumer demand; it is anything that can be offered to a market to satisfy the desire or need of a customer. [1] In retailing, products are often referred to as merchandise, and in manufacturing, products are bought as raw ...
Commercial-off-the-shelf or commercially available off-the-shelf ( COTS) products are packaged or canned (ready-made) hardware or software, which are adapted aftermarket to the needs of the purchasing organization, rather than the commissioning of custom-made, or bespoke, solutions. A related term, Mil-COTS, refers to COTS products for use by ...
The PGA Championship offered an $18.5 million purse last month, which gave Xander Schauffele $3.3 million for his win. While the top four finishers will all take home seven figures, everyone ...
Sales promotion is one of the elements of the promotional mix. The primary elements in the promotional mix are advertising, personal selling, direct marketing and publicity / public relations. Sales promotion uses both media and non-media marketing communications for a predetermined, limited time to increase consumer demand, stimulate market ...
Main product. A main product is a joint output that generates a significant portion of the net realizable value (NRV) within a joint production process. The classification of a product resulting from a joint production process as either a main product or a by-product has relevance in the context of cost management because costs are only ...