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SEGMENTATION: The marketing process by which a company divides a heterogeneous group of buyers in segments. Each segment has similar wants and needs. The company uses a concentrated targeting strategy to sell their products to this group. A different marketing mix is created and used for each segment.
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INNOVATION PROFIT Economic profit, the difference between the total revenue received by a firm and the total opportunity cost of production, that is attributable to innovation, the initial application of new products, technologies, or ideas. Innovation profit is one of two sources of economic profit. The other is monopoly profit that arises due to market control. The generation of innovation profit is an important incentive that by rewarding individual innovative behavior enables society-wide benefits from the resulting innovations.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction seeking to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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EMS
European Monetary System
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