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UNDIFFERENTIATED: A targeting strategy that is based on a homogeneous market. This is one where the total market has similar needs for the product. Typically, this market only requires one marketing mix to satisfy all persons.
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PRODUCT: A generic term for a tangible good, an intangible service, or an idea. This is the "output" of any production process. The product is also one variable of the marketing mix. Products are classified as consumer or business. Consumer products can be convenience, shopping, specialty, or unsought. Business products are raw materials, components, installation, equipment, accessories, and MRO type items. See also | production | supply | output | good | service | consumer products | business products | services | ideas | MRO | price | promotion | distribution | packaging | marketing mix |
Recommended Citation:PRODUCT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: October 17, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: product
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MARGINAL REVENUE, PERFECT COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a perfectly competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a perfectly competitive firm equates marginal revenue and marginal cost.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for rusty deck screws.
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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Do what you feel in your heart to be right ‚ for you'll be criticized anyway. You'll be damned if you do and damned if you don't. " -- Eleanor Roosevelt, first lady
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FOMC
Federal Open Market Committee
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