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Home→The Westburn Dictionary of Marketing→L→learning curve

learning curve

Definition:
A source of study among experimental psychologists as long ago as the beginning of this century, the learning curve is a graphic depiction of the acquisition of a skill. It has important applications to manufacturing processes as calls for changes in production schedules and processes reduces efficiency because such change involves some learning/re-learning. For similar reasons the cost characteristics of new products tend to improve with time as machine speeds, labour efficiency and material usage levels increase as the learning curve affects them.

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [James R. Bureau],.