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MARKETING CONCEPT: Focusing the companyÕs attention on the wants and needs of the customer in the development of products, services, ideas, and strategies. This customer driven focus is throughout the structure of the organization, from the boardroom to the shipping department and every place in between. When a decision is to be made, the question is asked: ÒIs this going to be good for the customer?Ó If the answer is yes, the company is following the marketing concept
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SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"I know the price of success; dedication, hard work and an unremitting devotion to the things you want to see happen. " -- Frank Lloyd Wright, architect
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LRMC
Long Run Marginal Cost
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