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Macmillan Dictionary of Marketing and Advertising by Michael John Baker

By Michael John Baker

What's ACORN, the "Boston Box", psychographics? each alternate and career has its personal designated language and jargon and advertising and marketing and ads are not any exception to this rule. certainly many may declare that advertising and marketing and ads are answerable for a wide share of the hot phrases and idioms brought into the language of commercial lately. during this moment variation, many phrases which occur in every-day language are defined. prolonged factors and diagrams are supplied for the entire uncomplicated principles and ideas that are the rules of contemporary advertising perform, including definitions of phrases in much less universal utilization.

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A name applied generically to STATISTICAL DECISION THEORY, even where the methods employed do not depend upon the theory proposed by Thomas Bayes during the 18th century. Enis and Broome (Marketing Decisions: A Bayesian Approach, 1971) summarize the Bayesian approach as consisting of five elements, namely: (a) The decision-maker is involved in a situation in which there are at least two alternative ways of reaching a specific objective( s), and he has the power to decide among the alternatives.

B backward channels. A description applied to the linkage of establishments engaged in the accumulation and sorting of waste products destined for recycling. g. scrap metal aluminium containers etc. Other waste products are disposed of by the responsible local authority which makes use of resaleable orreusable material to reduce costs. (AJB) backward integration. Adding to the number of processes in which a firm is involved by bringing more industrial activities further back in the chain under the same control.

Work also continues on the improvement of the exchange process based on the indigenous organizations in developing countries. (AJB) budgetary control. The processes by which an organization ensures that a close watch is kept on the organization's progress towards achieving its annual budget - its revenue and profit goals. This usually requires, at minimum, a monthly review in order to diagnose problems and seize opportunities. (JRB) budgeting. The financial practice of forward planning ofrevenues, costs and profits on an annual basis.

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