A Harvard Business School professor reveals the pattern to disruption in an industry by startups like Zipcar or Airbnb that force established companies out of their status quo and describes what industry leaders can do to protect their brands.
New: Mint condition or still sealed (SS). Absolutely perfect in every way. New.
Fine/Like New (EX): No defects, little sign of use, well cared for. Plays perfectly. Close to new. Not necessarily sealed or unused, but close. Could be an unopened promotional or cut item. Sometimes called: mint-minus.
Very Good (VG): Will show some signs that it was played and otherwise handled by a previous owner who took good care of it.
Good (G): Attractive and well cared for, but no longer fresh. Minor signs of wear, scuffing or scratching, but will play almost perfectly. For vinyl: barely detectable crackles or pops.
Fair (FR): This item is in okay condition. For vinyl: good is not so good and the record may have low level crackles or pops when playing. CD: one or more tracks may skip.
Poor (P): Obviously well-worn and handled. Most vinyl collectors will not buy good or below, but some tracks on CD or vinyl will play.