| Advertising |
any paid form of nonpersonal presentation and pro motion of ideas, goods, or services by an identified sponsor. |
| Brand awareness |
consumers' ability to identify the brand under different conditions, as reflected by their brand recognition or recall performance. |
| breakeven analysis |
a means by which management estimates how many units of the product the company would have to sell to break even with the given price and cost structure. |
| channel advantage |
when a company successfully switches its customers to lower-cost channels, while assuming no loss of sales or deterioration in service quality. |
| customerization |
combination of operationally driven mass cus tomization with customized marketing in a way that empowers con sumers to design the product and service offering of their choice. |
| delivery |
how well the product or service is delivered to the customer. |
| direct marketing |
the use of consumer-direct (CD) channels to reach and deliver goods and services to customers without using marketing middlemen. |
| dumping |
situation in which a company charges either less than its costs or less than it charges in its home market, in order to enter or win a market. |
| e-commerce |
a company or site offers to transact or facilitate the selling of products and services online. |
| focus group |
a gathering of six to ten people who are carefully selected based on certain demographic, psychographic, or other considerations and brought together to discuss various topics of interest. |
| gray market |
branded products diverted from normal or author ized distributions channels in the country of product origin or across international borders. |
| holistic marketing |
a concept based on the development, design, and implementation of marketing programs, processes, and activ ities that recognizes their breadth and interdependencies. |
| innovation |
any good, service, or idea that is perceived by some one as new. |
| loyalty |
a commitment to rebuy or re-patronize a preferred prod uct or service. |
| market-penetration pricing |
pricing strategy where prices start low to drive higher sales volume from price-sensitive customers and produce productivity gains. |
| marketing plan |
written document that summarizes what the mar keter has learned about the marketplace, indicates how the firm II plans to reach its marketing objectives, and helps direct and coor dinate the marketing effort. |
| marketing research |
the systematic design, collection, analysis, and reporting of data and findings relevant to a specific market ing situation facing the company. |
| marketing information system (MIS) |
people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute infor mation to marketing decision makers. |
| point-of-purchase (P-O-P |
the location where a purchase is made, typically thought of in terms of a retail setting. |
| price discrimination |
a company sells a product or service at two or more prices that do not reflect a proportional difference in costs. |
| push strategy |
when the manufacturer uses its sales force and trade promotion money to induce intermediaries to carry, pro mote, and sell the product to end users. |
| satisfaction |
a person's feelings of pleasure or disappointment resulting from comparing a product's perceived performance or outcome in relation to his or her expectations |
| strategic marketing plan |
laying out the target markets and the value proposition that will be offered, based on analysis of the best market opportunities. |
| target market | the part of the qualified available market the company decides to pursue. |
| Telemarketing |
the use of telephone and call centers to attract prospects, sell to existing customers, and provide service by taking orders and answering questions. |