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Meaning of “product parity” in the English Dictionary

"product parity" in Business English

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product paritynoun [U]

uk   us   MARKETING, COMMERCE
similarity between products of the same type: We live in an age of product parity, when most offerings are essentially "good." The market share of top brands has dropped because of perceived product parity – most consumers don't see a difference between brands.
(Definition of product parity from the Cambridge Business English Dictionary © Cambridge University Press)
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