Learning curves are a strong competitive weapon, especially in developing group of (a) a Price strategy.
What are Learning Curves?
The relationship between a person's level of competence and their experience is represented graphically by a learning curve. The horizontal axis represents experience, while the vertical axis represents proficiency; hence, the more often a person, group, business, or industry performs a task, the better they perform at it.
What are the different types of learning curve?
1. Diminishing-Returns Learning Curve
2. Increasing-Returns Learning Curve
3. Increasing-Decreasing Return Learning Curve
4. Complex Learning Curve.
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