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AGGLOMERATION ECONOMIES: A reduction in production cost the results when related firms locate near one another. Firms can be related as competitors in the same industry, by using the same inputs, or through providing output to the same demographic group. The fashion industry, for example, experiences agglomeration economies because they can share specialized inputs (photographers, models) that would be too expensive to employ full time. Retail stores have agglomeration economies when located in shopping malls because they have access to a large group of potential customers with lower advertising cost. Agglomeration economies is given as one of the primary reasons for the emergence of urban areas.
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PROMOTION: Sometimes referred to as the promotion mix, the variable of the marketing mix focusing on 4 elements: advertising, sales promotion, personal selling, and public relations. Promotion is that part of the mix that communicates the company, brand, and availability of the product to the target market. Organizations donŐt necessarily use all of the 4 elements. See also | advertising | sales promotion | personal selling | public relations | product | price | marketing mix | distribution | packaging | Recommended Citation:PROMOTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: November 4, 2024].
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INSURANCE A service that transfers the risk of loss from an individual to a larger group. The larger group is typically represented by an insurance provider, either a private for-profit company or a government agency. The insurance provider can assume the risk through risk pooling. Risk averse people, who are willing to pay a premium to avoid risk, are the ones most inclined to purchase insurance. The risk averse individual agrees to incur a small guaranteed loss (the premium) but avoids incurring a less likely, but much bigger, loss.
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ORANGE REBELOON [What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for jovial bank tellers. Your Complete Scope
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John Maynard Keynes was born the same year Karl Marx died.
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"Kites rise highest against the wind, not with it. " -- Winston Churchill, British prime minister
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SWIFT Society for Worldwide Interbank Financial Telecommunications
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