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LEARNING: A person's changes in thinking and behavior due to environmental experiences. A consumer learns about products and services based on information input and subsequent adjustments in buying patterns. This is important in the promotion element of the marketing mix. Typically a potential customer requires 6 exposures to a product name in order to develop retention (learning).
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INCREASING-COST INDUSTRY A perfectly competitive industry with a positively-sloped long-run industry supply curve that results because expansion of the industry causes higher production cost and resource prices. An increasing-cost industry occurs because the entry of new firms, prompted by an increase in demand, causes the long-run average cost curve of each firm to shift upward, which increases the minimum efficient scale of production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"The difference between the impossible and the possible lies in a person's determination. " -- Tommy Lasorda
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ABA
American Bankers Association, Associate in Business Administration
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