Sharp

Definition

In the context of Introduction to Business, specifically within "Creating Products and Pricing Strategies to Meet Customers' Needs" and under the topic of "The Product Life Cycle," sharp refers to a product or strategy that is highly effective, well-defined, and able to penetrate the market quickly and efficiently. It implies a level of precision and effectiveness in meeting consumer demands and outperforming competitors.

Related terms

Market Penetration: The process by which a new product gains acceptance among consumers and captures a significant share of an existing market.

Product Differentiation:

The strategy of distinguishing a product from others in the market by unique features, performance, or other attributes that create value for consumers.

Competitive Advantage:

An attribute that allows an organization to outperform its competitors by offering greater value through lower prices or more significant benefits