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MARKETING: The ongoing process of developing, pricing, promoting, distributing, and packaging products, ideas, and services to satisfy customersÕ wants and needs in a dynamic environment. Sometimes used interchangeably with sales is a misnomer. Sales, while a component of the promotion mix variable, is not the equivalent to marketing. Marketing is a broad, integrated strategy that transcends the entire organization.
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RELATIVELY INELASTIC An elasticity alternative in which relatively large changes in one variable (usually price) cause relatively small changes in another variable (usually quantity). In other words, quantity is not very responsive to price. Quantity does change, but not much, in response to large changes in price. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Relatively inelastic is one of five elasticity alternatives. The other four are perfectly elastic, perfectly inelastic, relatively elastic, and unit elastic.
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PINK FADFLY
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Today, you are likely to spend a great deal of time at a garage sale looking to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for telephone calls from long-lost relatives.
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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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"Few things can help an individual more than to place responsibility on him, and to let him know that you trust him. " -- Booker T. Washington, educator
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