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HOMOGENEOUS: In general, the notion that everything has identical characteristics. For example, a neighborhood might have a homogeneous culture, meaning everyone has similar income, religious preferences, and political views. In economics, it is used in a couple of different ways. One is for production, such that two or more goods are homogeneous if they are physically identical or at least viewed as identical by buyers. Another is for mathematical equations, such that an equation is said to be homogeneous if the independent variables are increased by a constant value, then the dependent variable is increased by a function of that value. In a marketing context, this is a market characterized by buyers with similar needs and wants. This group is targeted with an undifferentiated targeting strategy. The company uses only one marketing mix to satisfy this group of buyers.
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ALLOCATIVE EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or economic efficiency.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
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VIR
Variable Interest Rate
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