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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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EIGHT-FIRM CONCENTRATION RATIO The proportion of total output in an industry produced by the eight largest firms in an industry. This is one of two common concentration ratios. The other is the eight-firm concentration ratio. Another related measure is the Herfindahl index. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control held by the eight largest firms in the industry.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"The vacuum created by failure to communicate will quickly be filled with rumor, misrepresentations, drivel and poison. " -- C. Northcote Parkinson, historian
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OBX
Oslo Stock Exchange (Norway)
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