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HETEROGENEOUS: A market characterized by buyers with different needs and wants. A company utilizes a concentrated targeting strategy for this group. This market requires the company to divided the market into groups by a process called market segmentation. The company then develops a different marketing mix to satisfy each of these groups or segments.

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ELASTICITY DETERMINANTS

Three factors that affect the numerical value of the price elasticity of demand and the price elasticity of supply--availability of substitutes, time period of analysis, and proportion of budget. The price elasticities of demand and/or supply for a good can change if these determinants change. The first two determinants are important to both price elasticity of demand and price elasticity of supply, while the third relates specifically to the price elasticity of demand.

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GRAY SKITTERY
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Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for poorly written technical manuals.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
"Act well at the moment, and you have performed a good action for all eternity."

-- Johann Kaspar Lavater

JEMS
Journal of Economics and Management Strategy
A PEDestrian's Guide
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