conceptual budgeting

The preparation of a rough cost estimate, made without any concrete data, during the conceptual phase of a project. The goal is to establish cost parameters in advance of a […]

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concept testing

Process in which a new product idea is thoroughly analyzed with the help of a mockup and/or computer models. Read more: http://www.businessdictionary.com/definition/concept-testing.html#ixzz4BvPavU00

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mockup

Model or replica built full-size or to scale for testing or training purposes. Read more: http://www.businessdictionary.com/definition/mockup.html#ixzz4BvOFJlea

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mock auction

A scam run by experts who set up a mock auction and put on a show by appearing to sell high-quality products at very low prices. The initial bidders are […]

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mobilization base

1.Facility or place from where a contractor’s resources are mobilized. 2.Total of all resources that are available or can be made available for mobilization. Read more: http://www.businessdictionary.com/definition/mobilization-base.html#ixzz4BvGeZsRo

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mobilization

Activation of a contractor’s physical and manpower resources for transfer to a construction site until the completion of the contract. Read more: http://www.businessdictionary.com/definition/mobilization.html#ixzz4BvG7my5Z

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mobility of labor

Extent to which the workers are able or willing to move between different jobs, occupations, and geographical areas. It is called horizontal mobility if it does not result in a […]

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vertical mobility

Type of social movement when a person or group moves up or down in status. Vertical mobility can also apply outside of social situations to any type of movement that […]

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vertical market system (VMS)

Formally or informally coordinated distribution channel where its independent members work together to achieve greater efficiency and economies of scale, and to eliminate channel-conflict arising out of disparate individual objectives. […]

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backward integration

Type of vertical integration in which a consumer of raw materials acquires its suppliers, or sets up its own facilities to ensure a more reliable or cost-effective supply of inputs. […]

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