noun
a word that can be used to refer to a specific or general entity
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The adjacency effect refers to the impact that a neighboring property can have on the value of a real estate asset.
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Living next to a park can increase your property value due to the adjacency effect.
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The adjacency effect is like when your neighbor's fancy car makes your car look cooler by association.
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In the world of marketing, the adjacency effect can be compared to the concept of 'brand halo'.