Economics

Economics

basics of economics

Industry: Economy

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Economics

Augmented Product

Economy; Economics

A product enhanced by the addition of related services and benefits, eg. installation, warranty, maintenance and repair services, etc. See Core Product; Tangible Product.

Audiotext

Economy; Economics

A relatively new, alternative promotional medium in which an advertiser's recorded message is reached by an interested potential purchaser by telephone. See Alternative Media.

Lottery

Economy; Economics

A form of consumer sales promotion in which purchasers are offered to win prizes if their names are drawn from a barrel; a game of chance. Also called a Sweepstake.

Loss Leader Pricing

Economy; Economics

The pricing of a product at less than cost to attract purchasers to a store so that they will buy additional items at normal prices.

Backward Integration

Economy; Economics

A strategy for growth in which a company seeks ownership of, or some measure of control over, its suppliers. See Forward Integration; Horizontal Integration.

Free-in-Store Pricing

Economy; Economics

A pricing method in which the producer is responsible for all freight and delivery costs; the ordered goods are delivered freight free to the customer. See Geographical Pricing.