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Accounting > Compensation Management > Economics > Ethics > Finance > Marketing > Operations Management > Organizational Behavior > Quotes >  
Marketing:
  • Accessory equipment- Business goods that have substantial value and are used in an organization's operations.

  • Activity indicator of buying power- A market factor that is related to sales and expenditures and serves as an indirect estimate of purchasing power.

  • Administered vertical marketing system- An arrangement that coordinates distribution activities through the market and/or economic power of one channel member or the shared power of two channel members.

  • Adoption process- The set of successive decisions an individual or organization makes before accepting an innovation.


  • Adoption rate- The speed or ease with which a new product is accepted.


  • Advertising- All activities involved in presenting to an audience a nonpersonal, sponsor-identified, paid for message about a product or an organization.


  • Advertising agency- An independent company that provides specialized advertising services and may also offer more general marketing assistance.


  • Advertising campaign- All the tasks involved in transforming a theme into a coordinated advertising program to accomplish a specific goal for a product or brand.


  • Advertising media- The communications vehicles (such as newsspapers, radio, and television) that carry advertising as well as other information and entertainment.


  • Agent middleman- A firm that never actually takes title to (i.e. owns) products it helps market but does arrange the transfer of title.


  • Agent wholesaling middleman- An independent firm that engages primarily in wholesaling by actively negotiating the sale or purchase of products on behalf of other firms but does not take title to the products being distributed.


  • Agribusiness- Farms, food-processing firms, and other large-scale farming related enterprises.


  • AIDA- A sequence of steps in various forms of promotion, notably personal selling and advertising, consisting of attracting Attention, holding Interest, arousing Desire, and generating buyer Action.


  • Annual marketing plan- A written document that presents the master blueprint for a year's marketing activity for a specified organizational division or major product.


  • Arbitrage- The purchase and sale of a product in different markets to benefit from the unequal prices.


  • Asia-Pacific Economic Cooperation forum (APEC)- A trade pact among 21 Pacific Rim nations that seeks the elimination of major trade barriers.


  • Association of Southeast Asian Nations (ASEAN)- An agreement creating a free-trade zone among Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singnapore, Thailand and Vietnam.


  • Attitude- A learned predisposition to respond to an object or class of objects in a consistently favorable or unfavorable way.


  • Auction company- An agent wholesaling middleman that helps assembled buyers and sellers complete their transactions by providing auctioneers who do the selling and physical facilities for displaying the sellers' products.


  • Automatic vending- A form of nonstore retailing where the products are sold through a machine with no personal contact between the buyer and seller.


  • Average fixed cost- the total fixed cost divided by the number of units produced.


  • Average fixed cost curve- A graph of average fixed cost levels showing a decline as output increases because the total of the fixed costs is spread over an increasing number of units.


  • Average revenue- The unit price at a given level of unit sales. It is calculated by dividing total revenue by the number of units sold.


  • Average total cost- The total cost divided by the number of units produced.


  • Average total cost curve- A graph of average total costs, which starts high, then declines to its lowest point, reflecting optimum output with respect to total costs (not variable costs), and then rises because of diminishing returns.


  • Average variable cost- Total variable cost divided by the number of units produced.


  • Average variable cost curve- A graph of average variable cost levels, which starts high, then declines to its lowest point, reflecting optimum output with respect to variable costs (not total costs), and then rises.


  • Baby boomers- Americans born during the 20 years following World War II.


  • Balance of payments- The accounting record of all of a country's transactions with all the other nations of the world.


  • Banner ad- A boxed-in promotional message often appearing at the top of a Web page.


  • Barter- The exchange of goods and/or services for other products.


  • Base price- The price of one unit of the product at its point of production or resale. Same as list price.


  • BCG matrix- Boston Consulting Group (BCG) matrix.


  • Behavioral segmentation- Market segmentation based on consumers' product-related behavior, typically the benefits desired from a product and the rate at which the consumer uses the product.


  • Blogs- Weblogs.


  • Boston Consulting Group (BCG) Matrix- A strategic planning model that classifies strategic business units or major products according to market shares and growth rates.


  • Boycott- A refusal to buy products from a particular company or country.


  • Brand- A name and/or mark intended to identify and differentiate the product of one seller or a group of sellers.


  • Brand equity- The value a brand adds to a product.


  • Brand label- The application of the brand name alone to a product or package.


  • Brand licensing- Trademark licensing.


  • Brand manager- Product manager.


  • Brand mark- The part of a brand that appears in the form of a symbol, design, or distinctive color or type of lettering.


  • Brand name- The part of a brand that can be vocalized-words, letters, and/or numbers.


  • Breadth- The number of product lines offered for sale by a firm.


  • Break-even analysis- A method of calculating the level of output at which total revenue equals total costs, assuming a certain selling price.


  • Broker- an agent wholesaling middleman that brings buyers and sellers together and provides market information to either party and that ordinarily neither physically handles products being distributed nor works on a continuing basis with those sellers or buyers.


  • Browser- A program that enables its users to access electronic documents included in the World Wide Web on the Internet.


  • Business analysis- One stage in the new-product development process, consisting of several steps to expand a surviving idea into a concrete business proposal.


  • Business cycle- The four (4) recurring stages in an economy, typically prosperity, recession, depression, and recovery.


  • Business format franchising- An agreement, covering an entire method (or format) for operating a business, under which a successful business sells the right to operate the same business in different geographic areas.


  • Business market- The total of all business users.


  • Business marketer- A firm performing the activity of marketing goods and services.


  • Business marketing- The marketing of goods or services to business users rather than to ultimate consumers.


  • Business product- A product that is intended for purchase and resale or for purchase and use in producing other products or for providing services in an organization.


  • Business services market- The total set that deals in data and information such as marketing research firms, ad agencies, public utilities, and financial, insurance, legal, or real estate firms.


  • Business-to-business advertising- Adertising that is directed at businesses.


  • Business-to-consumer advertising- Consumer advertising.


  • Business users- Business, industrial, or institutional organizations that buy goods or services to use in their own organizations, to resell, or to make other products.


  • Buy classes- Three typical buying situations in the business market- namely new-task buying, modified rebuy, and straight rebuy.


  • Buying center- In an organizaton, all  individuals or groups involved in the process of making a purchase decision.


  • Buying motive- The reason why a person or an organization buys a specific product or makes purchases from a specific firm.


  • Buying roles- The users, influencers, deciders, gatekeepers, and buyers who make up a buying center.


  • Cannibalization- Situation in which a firm introduces new products to stimulate sales but the profit comes at the expense of other products sold by that firm.


  • Cartel- A group of companies that produce similar products and act collectively to restrain competition in manufacturing and marketing. OPEC is considered a cartel.


  • Cash discount- A deduction granted to buyers for paying their bills within a specified period.


  • Category-killer store- A type of retail institution that has a narrow but very deep assortment, low prices, and few to moderate customer services. It is designed to "destroy" all competition in a specific prodcut category.


  • Category management- A distribution practice in which a retailer allows a large supplier to manage an entire product categroy in a store or chain, with the supplier deciding which items will be placed on a retailer's shelves and in what quantities and locations.


  • Cause-related marketing- A source of promotion  for nonbusiness organizations in which an alliance between a for-profit and a nonprofit organization helps to generate sales for the firm and publicity for the nonprofit organization.


  • Change agent- In the process of diffusion, a person who seeks to accelerate the spread of a given innovation.


  • Channel assembly- Strategy in which a distributer takes over the final assembly role, which allows products to be customized, thus shortening delivery time because manufacturers often delay custom projects so they don't disrupt their production processes.


  • Channel conflict- A situation in which one channel member perceives another channel member to be acting in a way that prevents the first member from achieving its distribution objectives.


  • Channel control- The actions of a firm to regulate the behavior of other companies in its distribution channel.


  • Channel power- The ability of a firm to influence or determine the behavior of another channel member.


  • Chargeback- A penalty that a retailer or wholesaler assesses to a vendor that actually or allegedly violates an agreed-upon distribution policy or procedure.


  • Client market- Individuals and/or organizations that are the recipients of nonprofit organization's money or services. Same as recipient market.


  • Clustering- Electronic research technique that tracks the pages visited, the amount of time at each page, and the items purchased by individuals as they navigate a site.


  • Cobranding- Agreement between two separate companies, or two divisions within the same company, or to place both of their respective brands on a particular product or enterprise; also called dual branding.


  • Collaborative filtering- Electronic research technique that compares a person's selections and the purchase of previous visitors and enables a site to recommend current products that may be of interest to the visitor.


  • Collaborative planning, forecasting, and replenishment (CPFR)- Method by which a producer or wholesaler and a customer, ordinarily a retail chain, jointly and interactively develop sales forecasts through a shared website and design marketing plans.


  • Co-location- Employees of a distributor are stationed at the manufacturer's site to arrange shipment of the finished product to the customers.


  • Combined Statistical Area (CSA)- An urban area that consists of an adjacent metropolitan area (at least 50,000 residents) and a micropolitan statistical area (between 10,000 and 50,000 residents).


  • Commercial information enviroment- As contrasted with the social information environment, all communications directed to consumer by organizations and individuals involved in marketing.


  • Common Market of the South (MERCOSUR)- An agreement between Argentina, Brazil, Paraguay, and Uruguay that allows 90% of trade among these countries to occur tariff free.


  • Communication- The verbal or nonverbal transmission of information between someone else expected or expecting to get that idea. The four elements are a message, a source of the message, a communication channel, and a receiver.


  • Comparison  advertising- A form of selective-demand advertising in which an advertiser either directly (by naming a rival brand) or indirectly (through inference) points out the differences amoung competing brands.


  • Competitive intelligence- The process of gathering and analyzing publicly available information about the activities and plans of competitors.


  • Consumer advertising- Advertising that is directed at consumers.


  • Consumer buying-decision process- The series of logical stages, which differ for consumers and organizations, that a prospective purchaser goes through when faced with a buying problem.


  • Consumer product- A product that is intended for pruchas eand use by household consumers for nonbusiness purposes.


  • Consumer Product Safety Act- Federal legislation that created the consumer Product Safety Commission (CSPC), which has authority to establish mandatory safety standards for many consumer products.


  • Containerization- A cargo-handling system in which shipments of products are enclosed in large metal or wood receptacles that are then transported unopened from the time they leave the shipper's facilities until they reach their destination.


  • Contract logistics- An arrangement under which a firm outsources various business tasks to one or more independent firms.


  • Contract manufacturing- An arrangement in which a firm in one country arranges for a firm in another country to produce the product in the foreign country.


  • Contracting- A legal relationship that allows a firm to enter a foreign  market indirectly, quickly establish a market presence, and experiance a limited amount of risk.


  • Contractual vertical marketing system- An arrangement under which independent firms-producers, wholesalers, and retailers, operate under contracts specifying how they will operate in order to improve their distribution efficiency and effectiveness.


  • Contribution-margin approach- In marketing cost analysis, an accounting method in which only direct expenses are allocated to each marketing unit being analyzed.


  • Convenience goods- A category of tangible consumer products that the consumer has prior knowledge of and purchases with minimum time and effort.


  • Convenience store- A type of retail institution that concentrates on convenience-oriented groceries and nonfoods, typically has higher prices than other grocery stores, and offers few customer services.


  • Cookie- An inactive data file placed on a computer's hard drive after the user connects to a particular website; used to record the vistitor's activties while connected to the site.


  • Cooperative advertising- Advertising promoting products of two or more firms that share its cost.


  • Corporate chain- An organization of two or more centrally owned and managed stores that generally handle the same lines of products.


  • Corporate vertical marketing system- An arrangement under which a firm at one level of distribution channel owns the firms at the next level or owns the entire channel.


  • Correlation analysis- A statistical refinement of the direct-derivation method, an approach to demand forecasting that takes into account how close the association is between potential sales of the product and the market factor affecting its sales.


  • Cost per thousand (CPM)- The media cost of gaining exposure to 1,000 persons with an ad.


  • Cost-plus pricing- A major method of price detemination in which the price of a unit of a product is set at a level equal to the unit's total cost plus a desired profit on the unit.


  • Countertrade- An arrangement under which domestically made products are traded for imported goods.


  • C2C design- "Cradle to cradle" product design that seeks to recycle parts and components as much as possible.


  • Culture- A complex set of symbols and artifacts created by a society and handed down from generation to generation as determinants and regulators of human behavior.


  • Cumulative discount- A quantity discount based on the total volume purchased over a specified period.


  • Customer relationship management (CRM)- An ongoning interaction between a buyer and a seller in which the seller continuously improves its understanding of the buyer's needs, and the buyer becomes increasingly loyal to the seller because its needs are being so well satisfied.


  • Customer specialization- One method of organizing selling activites in which each sales person is assigned a specific group of customers, categorized by type of industry or channel of distribution, to which to sell.