Define the Term Skilled Producers & Sophisticated Consumers?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Define the Term Skilled Producers & Sophisticated Consumers?
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Step 1
Sophisticated Customer:
A sophisticated customer refers to a customer who is aware regarding the products and services that enter into the markets. This category of customers is willing to try better products and new products and are innovative when compared to the conventional or less sophisticated customers.
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