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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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INNOVATION The initial application of new products, technologies, and ideas that usually generate a beneficial improvement in society and the economy. In contrast to an invention, which is the act of creation, an innovation is the implementation of a product, technology, or idea. Innovations are changes in existing institutions and the status quo, prompted by risk-taking entrepreneurs, that promote prosperity and improved living standards.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Good plans shape good decisions. That's why good planning helps to make elusive dreams come true." -- Lester Bittle, Author
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AACT
American Assocation of Commodity Traders
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