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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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AVERAGE COST

The opportunity cost incurred per unit of good produced. This is calculated by dividing the cost of production by the quantity of output produced. While average cost is a general term relating cost and the quantity of output, three specific average cost terms are average total cost, average variable cost, and average fixed cost. A related cost term is marginal cost.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for gnomes hiding in cypress trees.
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More money is spent on gardening than on any other hobby.
"Security can only be achieved through constant change, through discarding old ideas that have outlived their usefulness and adapting others to current facts. "

-- William O. Douglas, Supreme Court Justice

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