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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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PERFECT COMPETITION, MARGINAL ANALYSIS A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. This marginal approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve the direct analysis of economic profit or a comparison of total revenue and total cost.
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BLUE PLACIDOLA [What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either a large red and white striped beach towel or a bottle of blackcherry flavored spring water. Be on the lookout for poorly written technical manuals. Your Complete Scope
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 work of the individual still remains the spark that moves mankind forward. " -- Igor Sikorsky, aeronautical engineer
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JEMS Journal of Economics and Management Strategy
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