The term “Rust Belt” is used to refer to an area of the United States that has been economically impacted by the decline of the manufacturing industry. This area is typically made up of cities and regions that were once major centers of manufacturing, but have seen a decline in this industry in recent years. … Read more
The term “bleeding edge” is used to describe a situation where a company or individual is using the absolute latest and greatest technology, even if that technology is still in its early stages and is not yet fully proven or stable. The term can be used to describe both hardware and software, but is most … Read more
Categories and Example. A Big Hairy Audacious Goal (BHAG) is a term used to describe a bold, aspirational goal that is often used to inspire and motivate individuals and organizations. A BHAG should be ambitious and challenging, yet achievable, and should be specific and measurable. BHAGs are often used in business settings, and can be … Read more
The definition of haggle is “to argue or bargain persistently (usually over the price of something).” Haggling is a common practice in many cultures, and is often seen as a way to get the best possible price for something. In some cases, haggling may be the only way to get a fair price, especially in … Read more
A middleman is an intermediary who is involved in a transaction between two other parties. Middlemen are often used in situations where two parties are not able or willing to communicate or negotiate directly with each other. Middlemen can take various forms, such as agents, brokers, or distributors. They can be used to facilitate communication, … Read more
A doorbuster is a product that is offered at an exceptionally low price, typically as part of a promotional event or sale. Doorbusters are designed to attract customers and encourage them to buy items in-store, rather than online. Who coined the term doorbuster? The term “doorbuster” was coined by retailers to refer to a special … Read more
. The Peter Principle and How to Overcome It What is the Paul Principle? In business, the Paul Principle is the idea that people tend to promote themselves to their own level of incompetence. The principle is named after its originator, Laurence J. Peter, who popularized it in his 1969 book The Peter Principle. The … Read more
The term “One Belt One Road” (OBOR) refers to the Chinese government’s initiative to invest in infrastructure projects in countries along the historic Silk Road trade routes. The initiative is also known as the “Belt and Road Initiative” or the “New Silk Road Initiative”. The One Belt One Road initiative was first proposed by Chinese … Read more
Lowballing is a pricing strategy where a company offers a product or service at a very low price, usually below the standard market price. The goal of lowballing is to lure customers in and then make up for the low prices with high volume sales. Lowballing can be a very effective marketing strategy, but it … Read more
The term “one-stop shopping” refers to the ability to purchase all of the items that a customer needs from a single store. This type of shopping convenience is typically found in large department stores or retail chains that offer a wide variety of merchandise. One-stop shopping became popular in the United States in the mid-20th … Read more
