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TARGET MARKET: The specific group of individuals who have been selected as the most likely potential buyers for products, ideas, or services. The company develops a marketing mix to satisfy this group of buyers. This group has been selected, after process of determining similar buying habits, attitudes, and other demographics, to be the best for purchasing the companyÕs product.

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AVERAGE VARIABLE COST

Total variable cost per unit of output, found by dividing total variable cost by the quantity of output. When compared with price (per unit revenue), average variable cost (AVC) indicates whether or not a profit-maximizing firm should shut down production in the short run. Average variable cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average fixed cost. A related concept is marginal cost.

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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for infected paper cuts.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out."

-- President Ronald Reagan

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