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Healthcare Glossary

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Perfect competition

A market situation where all relevant information is known to both buyers and sellers; there is freedom to both enter and exit the market; there is a homogenous product; and there are a large number of buyers and sellers, with the product free from being influenced in price or supply by just one of them.

See also:
Unique selling preposition (USP)
Free market economy

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Related terms

Export marketing, Relationship marketing, Channel marketing, Electronic point of sale (EPOS) system, Early majority, Customer relationship management (CRM), Long term value (LTV), Gross Domestic Product (GDP), Audit, e-Commerce, Territory, In-Company training, Personal data, Latent demand, Market leader,

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