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MATURITY STAGE: The third stage in the product life cycle, characterized by flattening of sales and decreasing profit margins. Advertising and promotion are used to maintain market share and to prevent the erosion of sales and profits. During this stage, the initial decline of a product begins and many businesses try to "re-invent" their products to prevent the upcoming decline stage. Many times the company finds new uses for an existing product (baking soda as a deodorizer), totally new markets (foreign countries), or a way to enhance the existing product to make it better and to re-start the life cycle. The television has gone through at least two life cycles, first from black and white to color and then from color to high definition (HD) and plasma. Along the way there were enhancements such as remote control, VCRs to complement them, and cable to help with reception.
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LAW OF DIMINISHING MARGINAL UTILITY A principle stating that as the quantity of a good consumed increases, eventually each additional unit of the good provides less additional utility--that is, marginal utility decreases. Each subsequent unit of a good is valued less than the previous one. The law of diminishing marginal utility helps to explain the negative slope of the demand curve and the law of demand.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for a thesaurus filled with typos.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Be civil to all; sociable to many; familiar with few; friend to one; enemy to none. " -- Benjamin Franklin, statesman
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MTN
Multilateral Trade Negotiations
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