The difference between the current estimated cost of the product and its target cost is referred to as the cost gap.

Name: The difference between the current estimated cost of the product and its target cost is referred to as the cost gap.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The cost gap refers to the difference between the current estimated cost of producing a product and the target cost that the company aims to achieve to maintain profitability and competitiveness.

The Difference Between the Current Estimated Cost of the Product