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December 23, 2025 

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TARGETING STRATEGY: The initial step in the target market/segmentation process by which a company develops an overall picture of who the specific buyer group might be. The three types of strategies are: undifferentiated, differentiated, and concentrated. Targeting strategies are based on whether the market is homogeneous or heterogeneous.

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LONG-RUN AVERAGE COST

The per unit cost of producing a good or service in the long run when all inputs under the control of the firm are variable. In other words, long-run total cost divided by the quantity of output produced. Long-run average cost is guided by returns to scale.

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PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a wall poster commemorating the first day of spring or a lazy Susan for you dining room table. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?

Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"Doing the best at this moment puts you in the best place for the next moment. "

-- Oprah Winfrey, entrepreneur

AEC
Annual Equivalent Costs
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