I have always viewed it that way...
If it was defined as you define it the term is simply redundant, and the month name could be used.
I understand early and late as dividing the quarter in half, and mid (rarely used) as some shadowy date...
Early = first 1.5 months (Apr 1-May 15)
Late = last 1.5 months (May 15-Jun 30)
Mid = some nonspecific overlap of the two.
It is never used in business (that I am aware of) to be specific to a month for each term... The MBAs would be smart enough to remove the redundancy and just use months. It is a way to specify a schedule with more wiggle room than specifying a month.
Jan-Mar=Q1
Apr-Jun=Q2
Apr=Early Q2
May=Mid Q2
June=Late Q2
Early May is mid Q2 unless you want to start breaking it down by weeks and days which is absurd. Hey, why not by hour too then? Is Sprint going to wait until 11:59pm May 14th to FINALLY update this thing?
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