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MARKETING MIX: The combination of 5 controllable variables consisting of product, price, promotion, distribution and packaging to satisfy the needs and wants of customers in a targeted market. This requires the collection of data and demographics on customers in potential markets. Organizations may use multiple marketing mixes strategies based on different targeted market segments.
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TOTAL COST The opportunity cost incurred by all of the factors of production used by a firm to produce a good or service, including wages paid to labor, rent paid for the land, interest paid to capital owners, and a normal profit paid to entrepreneurs. Total cost is most important in the analysis a firm's short-run production decision and is frequently separated into total variable cost and total fixed cost. Two other cost measures directly related to total cost are marginal cost and average total cost. Total cost is half of the information a firm uses to determine profit, the other half is total revenue.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"He who has begun has half done. Dare to be wise ‚ begin! " -- Horace, poet, satirist
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GAB
General Agreements to Borrow
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