When the licensor provides the licensee with a complete brand concept and operating system, the arrangement is called contract manufacturing.

A good illustration of a member of the institutional market would be Boeing because it is a member of the aviation institution structure.

“Toughies” are old school buyers who pit sellers against one another.

In first-degree price discrimination, the seller charges less to buyers who purchase in larger volumes.

Brand associations  consist of all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes, and so on that become linked to the brand node.

Services account for nearly 40 percent of global trade.

When PepsiCo sold its cola syrup to Russia for rubles and agreed to buy Russian vodka at a certain rate for sale in the United States, it was engaged in the form of countertrade known as an offset.

One of the forms of solution selling is to provide solutions to enhance customer revenues.

Sigmund Freud assumed that the psychological forces shaping people’s behavior are largely unconscious, and that people cannot fully understand their motivations.

Total costs consist of the sum of the fixed and the variable costs for any given level of production.