1. Marketing term: Marketing

Marketing is the activity, set of institutions, and

processes for creating, communicating, delivering,

and exchanging offerings that have value for

customers, clients, partners, and society at large.

(Source: AMA)

2. Marketing term: First-degree Price

Discrimination

The firm sells each unit at the maximum amount

each customer is willing to pay, so prices differ

across customers, and a given customer may pay

more for some units than for others. Also known as

'perfect price discrimination'.

3. Marketing term: Second-degree Price

Discrimination

A firm charges a different price for large quantities

than for small quantities, but all customers who buy

a given quantity pay the same price. Also known as

'Quantity Discrimination'.

4. Marketing term: Third-degree Price

Discrimination

A firm charges different groups of customers

different prices but charges a given customer the

same price for every unit sold. Also known as

'Multimarket Price Discrimination'.

5. Marketing term: Keep-Out Pricing

A pricing practice, common in oligopolistic market

situations, in which the large companies maintain

very low prices to discourage smaller competitors

and thus protect their own market shares.

6. Marketing Term: Umbrella Pricing

A pricing situation common in oligopolistic market

situations where the larger firms, by keeping prices

high, create room for smaller companies to operate

profitably below them.

7. Marketing term: Tie-in-sale

A customer may buy one good only he or she agrees

to buy another good or service. Vacation package

deals, for example, may include airfare and a hotel

room for a single price.

8. Marketing term: Wildcat

A business with a high level of opportunity and a

high level of threat.

9. Marketing term: KISS Principle

Acronym for 'Keep It Simple and Straightforward'

10. Marketing Term: ‘SoLoMo’

Definition: SoLoMo is the blend of social, local and

mobile. It represents the growing marketing trend of

targeting consumers based on their current location

with content or promotions designed to be shared

via social networks.

11. Marketing Term: ‘Tradigital’

Definition: Tradigital is the fusion of traditional and

digital. When applied to marketing, it effectively

means applying traditional principles of marketing

and branding to the digital space in order to gain

competitive advantage.

12. Marketing Term: After-market

Definition: The potential future sales generated by

owners of equipment for repair and replacement

parts.

13. Marketing Term: Vertical market

Definition: A situation in which an industrial product

is used by only one or a very few industry or trade

groups. The market is narrow but deep in the sense

that most prospective customers in the industry may

need the article.

14. Marketing Term: Red Oceans Vs. Blue Oceans

Red Oceans are all the industries in existence today

– the known market space. In the red oceans,

industry boundaries are defined and accepted, and

the competitive rules of the game are known. Here

companies try to outperform their rivals to grab a

greater share of product or service demand. As the

market space gets crowded, prospects for profits

and growth are reduced. Products become

commodities or niche, and cutthroat competition

turns the ocean bloody. Hence, the term red oceans.

Blue oceans, in contrast, denote all the industries

not in existence today – the unknown market space,

untainted by competition. In blue oceans, demand is

created rather than fought over. There is ample

opportunity for growth that is both profitable and

rapid. In blue oceans, competition is irrelevant

because the rules of the game are waiting to be set.

Blue Ocean is an analogy to describe the wider,

deeper potential of market space that is not yet

explored. (Thanks to Wikipedia)

15. Marketing Term: Bait and Switch Advertising

Strategy

A deceptive sales practice whereby a low-priced

product is advertised to lure customers to a store,

where they are then induced to buy higher priced

models by disparaging the less-expensive product.

16. Marketing Term: Raincheck

A promise given to customers when merchandise is

out of stock to sell them merchandise at the sale

price when the merchandise arrives.

17. Marketing term: Market fragmentation

The emergence of new market segments with

distinct needs and requirements out of previously

homogenous segments. These new segments limit

the usefulness of mass marketing and erode brand

loyalty.

18. Marketing Term: Zapping

The act of using a remote control to change

television channels when an advertisement begins.

19. Marketing Term: Weber's law

This states that product purchasers and users are

more interested in the relative differences between

products than in the absolute characteristics of

products standing alone.

20. Marketing Term: Hedonistic consumption

A focus on the sensory pleasures or hedonic benefits

provided by interaction with products or services.

21. Marketing Term: Outshopping

A practice whereby residents of smaller communities

travel to larger communities to shop when prices

become too high or assortments are not available in

the smaller communities. A situation in which

customers are shopping in other areas because their

needs are not being met locally.

22. Marketing Term: Junket

A publicity device in which members of the media

are brought to a company to observe the product

being made, research facilities, and the like.

23. Marketing Term: Engel's Law

The observation that the proportion of income spent

on food de-clines as income rises with given tastes

or preferences. This law or tendency was formulated

by Ernst Engel (1821-1896) in a paper published by

him in 1857.

24. Marketing term: Bleed advertisement

The print ads or brochures for which the color,

graphics, and/or artwork extends to the edge of the

page. Such pages have no unprinted margins or

borders and are usually sold at a premium price.

25. Marketing term: Baby boom

The period from the end of World War II until the

early 1960s when the number of births increased

significantly, resulting in a population surge

characterized as "the baby boom generation."

26. Marketing Term: Backgrounder sheet

A brief review of an organization's history, mission,

financial support, or other information provided to

the media with other publicity materials in order to

supply basic information that may be used in a news

story. It is also known as a fact sheet.

27. Marketing Term: Boomerang method

A method used by salespeople to respond to

customer objections by turning the objection into a

reason for acting immediately.

28. Marketing Term: Economic man

A model of human behavior assumed by economists

in analyzing market behavior. The economic person

is a rational person who attempts to maximize the

utility received from his/her monetary outflows and

sacrifices.

29. Marketing Term: Cannibalization

The loss of sales in established products experienced

by a firm resulting from its own introduction of new

products that are partial or complete substitutes.

That is, the new product "steals" some of the sales

of the established product.

30. Marketing Term: Market Basket Analysis

An algorithm that examines a long list of

transactions in order to determine which items are

most frequently purchased together. The end result

of the analysis should help companies determine

how to grow each customer's "basket."

31. Marketing Term: Fighting brand

A line extension of a main brand that is marketed by

one producer to compete directly with the lower-

priced products of other producers in a given

market. The fighting brand usually has a separate

brand identity and a low price. Its quality is usually

lower than that of the main brand; it may only be

temporarily on the market; and its purpose is to hold

customers without having to lower the price of the

main brand.

32. Marketing Term: Market rollout

The introduction of a new product into a market

sequentially. The rollout may be by geographical

areas, by applications or uses, or by individual

customers. Over time, depending on the speed of

the rollout, the entire market is covered.

33. Marketing Term: Residual market value

The image enhancing communication about the

product or service that remains with the consumer

after the sales promotion event is over.

34. Marketing Term: Acculturation

The process by which people in one culture or

subculture learn to understand and adapt to the

norms, values, life styles, and behaviors of people in

another culture or subculture.

35. Marketing Term: Bird dog

An individual who, for a fee, provides sales leads to a

salesperson. The individual also is called a spotter.

36. Marketing Term: Flea market

A flea market or swap meet is a type of bazaar that

rents space to people who want to sell or barter

merchandise ranging from low quality items to

bargain priced items of the highest quality or used

goods.

37. Marketing Term: DAGMAR

A process of establishing goals for an ad campaign

such that it is possible to determine whether or not

the goals have been met. It stands for Defining

Advertising Goals for Measured Advertising Results.

38. Marketing Term: Homeostasis

A state of physiological balance within the individual.

For example, lack of water leads to the

uncomfortable sensation of thirst. The individual

seeks products, such as soft drinks, that reduce the

ensuing tension to return to a state of physiological

balance or homeostasis.

39. Marketing Term: Captive market

The potential clientele of retail or service businesses

located in hotels, airports, railroad stations, etc.,

where consumers do not have reasonable

alternative sources of supply.

40. Marketing Term: Viral marketing

A marketing phenomenon that facilitates and

encourages people to pass along a marketing

message. Nicknamed viral because the number of

people exposed to a message mimicks the process of

passing a virus or disease from one person to

another.

41. Marketing Term: Canned story

A standardized sales presentation that includes all

the key selling points arranged in the order designed

to elicit the best response from the customer

42. Marketing Term: Choice rule

A method by which an individual is hypothesized to

make choices or decisions. A choice rule specifies the

manner in which the individual evaluates each

alternative under consideration.

43. Marketing term: Consumer Sentiment Index

The Index of Consumer Sentiment (ICS) was

developed at the University of Michigan Survey

Research Center to measure the confidence or

optimism (pessimism) of consumers in their future

well-being and coming economic conditions. The

index measures short- and long-term expectations of

business conditions and the individual's perceived

economic well-being. Evidence indicates that the ICS

is a leading indicator of economic activity as

consumer confidence seems to precede major

spending decisions.

44. Marketing term: Cold-canvassing

A method of prospecting under which a salesperson

calls on totally unfamiliar organizations and

prospects.

45. Marketing term: Metamarket

Metamarket describes a cluster of complementy

products and services that are closely related in the

minds of consumers but are spread across a diverse

set of industries.

46. Marketing term: Erratic demand

A pattern of demand for a product that is varied and

unpredictable - e.g., the demand for large

automobiles.

47. Marketing term: Dating

1. (sales promotion definition) A type of trade sales

promotion in which the retailer is allowed to buy a

certain amount of product from the manufacturer

and then pay for that product over a prolonged

period of time.

2. (Retailing definition) The dates in which discounts

can be taken or the full invoice amount is due.

48. Marketing term: Fashion

An accepted and popular style.

49. Marketing term: Market attractiveness

A measure of the profit potential inherent in the

structure of a market or industry. There are a

multitude of factors contributing to (and which can

be used to measure) market attractiveness. The

major categories and some examples from each of

the categories are provided in the following:

(1) Market factors-market growth rate, market size,

and life cycle stage;

(2) Economic and technological factors-invest-ment

intensity, industry capacity, bar-riers to entry or

barriers to exit, and access to raw materials;

(3) Competitive forces-types of direct rivals,

structure of competition and substitution threats,

bargaining power of buyers and suppliers; and

(4) Environmental factors-regulatory climate, degree

of social acceptance, and human factors. (Thanks to

AMA)

50. Marketing term: Selective demand

The demand for a specific brand marketed by a firm.

51. Marketing term: Sellers market

A combination of economic conditions that favor

sellers in negotiated transactions, usually because of

high levels of demand, scarcity of supply, etc. It is

the opposite of buyers market.

52. Marketing term: Buyers market

Economic conditions that favor the position of the

retail buyer (or merchandiser) rather than the

vendor. In other words, economic conditions are

such that the retailer can demand and usually get

concessions from suppliers in terms of price,

delivery, and other market advantages. It is the

opposite of a sellers’ market.

53. Marketing term: Cherry picking

A buyer selection of only a few items from one

vendor's line and others from another line, failing to

purchase a complete line or classification of

merchandise from one resource. It also sometimes

describes a customer's tendency to buy only items

on sale.

54. Marketing term: Cooperative marketing

The process by which independent producers,

wholesalers, retailers, consumers, or combinations

of them act collectively in buying or selling or both.

55. Marketing term: Kinesics

The study of body motions, such as gestures, facial

configurations, and other movements of the body.

56. Marketing term: Macromarketing

The study of marketing processes, activities,

institutions, and results from a broad perspective

such as a nation, in which cultural, political, and

social, as well as economic interaction are

investigated. It is marketing in a larger context than

any one firm.

57. Marketing term: Fashion cycle

The process by which a particular design, activity,

color, etc., comes into some popularity and then

phases out. This cycle of adoption and rejection is

quite similar to the product life cycle, but the fashion

cycle uses different terms to describe its phases: (1)

distinctiveness phase, in which the style is eagerly

sought; (2) emulation stage, in which its popularity

grows; and (3) economic stage, in which it becomes

available at lower prices to the mass market.

58. Marketing term: Value Proposition

A customer value proposition is the sum total of

benefits a customer is promised to receive in return

for his or her custom and the associated payment (or

other value transfer). A customer value proposition

is what is promised by a company's marketing and

sales efforts, and then fulfilled by its delivery and

customer service processes.

59. Marketing term: Soldiering

Working at much slower pace than the one of which

a person is capable.

60. Marketing term: Majority fallacy

A marketing strategy that directs a new product to

an entire market, or to the largest segment in it,

solely because of its size. Today, this "shotgun"

approach is felt to be almost always inferior to the

alternative strategy of targeting to smaller segments.

61. Marketing term: Telescoping error

Telescoping error is an error resulting from the

tendency of people to remember events as occurring

more recently than they actually did.

62. Marketing term: Evoked set

A group of relevant brands that a prospective

consumer is favorably familiar with when they are

thinking about making a purchase.

63. Marketing term: Inert set

Brands that a buyer is aware of when considering a

purchase but has no interest in.

64. Marketing term: Inept set

Brands that a buyer is aware of when considering a

purchase, thinks poorly of , but uses in some way as

a source of information.

65. Marketing term: Puppy-Dog Close

A closing technique in which a salesperson urges an

indecisive prospect to "take it home, play with it

overnight", believing that once the product is in the

customer's keeping he or she will be unwilling to

part with it.

That means Let the customer try the product for free

in the hopes the customer will fall in love with it.

Example: "We’ll give you the product free for your

evaluation and only charge you if you don’t return

it."

Expected Outcome: The customer loves the product

and never thinks to return it.

Actual Outcome: The customer uses the product for

the trial period, returns it, then gets your competitor

to give them another trial period, and so forth.

66. Marketing term: Fast Moving Consumer Goods

(FMCG)

A term used in reference to frequently purchased

consumer goods, such as foodstuffs, toiletries, etc.

67. Marketing term: T-O technique

A closing technique commonly used in retailing

where one salesperson 'turns over' the customer to

another if he or she fails to close the sale.

68. Marketing term: Yuppie

Commonly used term to describe a lifestyle-based

market segment consisting of 'young, urban

professionals'.

69. Marketing term: Baby Bouncers

The generation of people who are the children of the

'baby boomers'; also referred to as Yuppie Puppies.

70. Marketing term: Browngoods

A classification of consumer durables which includes

television sets, radios and hi-fi equipment.

71. Marketing term: Whitegoods

A classification of consumer durables which includes

refrigerators, dishwashers, clothes dryers, washing

machines, etc.

72. Marketing term: Ho-Hum Products

A colloquial term used in reference to common,

everyday items (such as paper clips, drawing pins,

staples and scribble-pads) which cannot be

differentiated significantly from those of

competitors; purchasers of 'ho-hum' products will

generally favor the cheapest available.

73. Marketing term: Deal proneness

A consumer's general inclination to use promotional

deals such as buying on sale or using coupons.

74. Marketing term: Bagman

An eighteenth century term of British origin for a

salesperson

75. Marketing term: Price Fixing

The practice of two or more sellers agreeing on the

price to charge for similar products or services.

76. Marketing term: Radio wrap-around

The radio equivalent of a video news release, a radio

story lasting 90 seconds or less and including an

announcer who introduces sound bits from one or

more news sources.

77. Marketing term: Natural selection theory

A theory of retail institutional change that states

that retailing institutions that can most effectively

adapt to environmental changes are the ones most

likely to prosper or survive.

78. Marketing term: Pareto's Principle

The idea or notion in business, commonly known as

'the 80:20 rule', which says that eighty per cent of

the revenue comes from twenty per cent of the

products, that eighty per cent of the sales volume is

derived from twenty per cent of the customer

accounts, etc; named after Vilfredo Pareto, the

nineteenth century economist and sociologist.

79. Marketing term: Rapport

A close, harmonious relationship between a

salesperson and customer.

80. Marketing term: Terminal values

Terminal values represent preferred end states of

being or global goals that consumers are trying to

achieve in their lives.

81. Marketing term: Instrumental values

Instrumental values represent preferred modes of

conduct or preferred patterns of behavior.

82. Marketing term: Marketing myopia

Refers to focusing on products rather than

customers.

83. Marketing term: 4Cs & 4Ps of Marketing

1. Customer solution (Product) 2. Customer cost

(Price) 3. Convenience (Place) 4. Communication

(promotion)

84. Marketing Term: The Extended Marketing Mix

(7ps of Marketing)

1. Product 2. Price 3. Place 4. Promotion 5. People 6.

Process 7. Physical Evidence

85. McKinsey's 7s Framework

The McKinsey 7S model involves seven

interdependent factors which are categorized as

either "hard" or "soft" elements:

Hard Elements: Strategy Structure Systems

Soft Elements: Shared Values Skills Style Staff

The 7S model can be used in a wide variety of

situations where an alignment perspective is useful,

for example to help you:

* Improve the performance of a company. * Examine

the likely effects of future changes within a

company. * Align departments and processes during

a merger or acquisition. * Determine how best to

implement a proposed strategy.

86. Michael Porter's 3 Generic Strategies:

1. Overall Cost leadership 2. Differentiation 3. Focus

87. Sunk Cost:

A past expenditure that can not be recovered.

88. Marketing term: Investomer

An investomer is a person who buys products from

the same organizations in which he or she hold

shares

89. Marketing term: Low-end market

Low-end market consists of lower-priced products

suitable for customers who are not willing or able to

spend large amounts of money.

90. Marketing term: Engagement marketing

Sometimes called "experiential marketing," "event

marketing", "live marketing" or "participation

marketing," is a marketing strategy that directly

engages consumers and invites and encourages

consumers to participate in the evolution of a brand.

Rather than looking at consumers as passive

receivers of messages, engagement marketers

believe that consumers should be actively involved

in the production and co-creation of marketing

programs, developing a relationship with the brand.

(Source: Wikipedia)

91. Marketing term: Attack marketing

Attack marketing is a form of marketing that

incorporates a series of creative and strategic

techniques used to build and maintain public

awareness surrounding a person, place, product, or

event

92. Marketing term: Double-loop marketing

Double-loop marketing is based upon the notion

that in today's information-rich world, marketing

must of necessity be people and knowledge-driven

rather than product driven. A company must first

develop "mind share” by building a site that offers

genuinely- useful information and advice to

consumers. This is the first loop of the firm's

interaction with customers. Only after such a site

achieves credibility among its community of readers

can the company, in the second loop of customer

interaction, try to convert that "mind share" into

"wallet share." (Source: Wikipedia)

93. Marketing term: Article marketing

Article marketing is a type of advertising in which

businesses write short articles about themselves,

their company or their field of expertise as a

marketing strategy.

94. Marketing term: Article video marketing

is a new type of internet marketing and advertising

in which business create 2-5 minute short videos

about specific topics using content from articles and

other text sources. The videos are then uploaded to

various video sharing websites like youtube for

distribution and exposure.

95. Marketing term: Soft launch

A soft launch is the release of a website, hotel, or

other product or service to a limited audience. Soft-

launching is a method for gathering data on a

product's usage and acceptance in the marketplace,

before making it generally available as a hard launch

or grand opening. Companies may choose a soft

launch to test the viability of a product or to fine

tune a product before implementing a larger

marketing effort. (Source: WiKi)

96. Marketing term: Consumer confusion

Consumer confusion is a state of mind that leads to

consumers making imperfect purchasing decisions or

lacking confidence in the correctness of their

purchasing decisions

97. Marketing term: Mall intercept

A method of data collection in which interviewers in

a shopping mall stop or intercept a sample of those

passing by to ask them if they would be willing to

participate in a

research study; those who agree are typically taken

to an interviewing facility that has been set up in the

mall where the interview is conducted.

98. Marketing term: Reilly's law

A model used in trade area analysis to define the

relative ability of two cities to attract customers

from the area between them.

99. Marketing term: National character

The values, beliefs, and personality characteristics

that describe the people of a country in general

terms.

100. Marketing term: Car card

An advertising poster placed on buses, subways, etc.

101. Marketing term: Imitative strategy

An imitative strategy relies on the designs of other

companies in creating its designs. The imitative

company also may base its accompanying product

marketing strategy on the strategy of the market

leader or pioneer. Imitative strategies frequently are

used in the fashion goods, furniture, entertainment,

and food products industries.

102. Marketing term: Bangtail

Detachable advertisements on the reply envelop

commonly included with credit card or telephone

bills.

103. Marketing term: Brand equity

The value of a brand. From a consumer perspective,

brand equity is based on consumer attitudes about

positive brand attributes and favorable

consequences of brand use. (Source: AMA)

104. Marketing term: Brand Mapping

Brand mapping is a research technique to identify

and visualize the core positioning of a brand

compared to competing brands on various

dimensions.

105. Marketing term: Brand Tribe

A brand tribe is a formal or informal group of

consumers whom share the same awareness,

passion and loyalty for a brand or a portfolio of

brands.

106. Marketing term: Break-bulk

The process of dividing larger quantities into smaller

quantities in the transportation- warehousing

system as goods get closer to the final market.

107. Marketing term: Buying style

The way a customer buys a given product or service.

Buying styles range from deliberate buying to

impulsive buying.

108. Marketing term: Generic advertising

An approach to preparing advertising messages that

concentrates on the customer benefits that apply to

all brands in a product category, as opposed to

benefits that are unique to specific brands.

109. Marketing term: BRANDAID

A decision support system for determining the

marketing mix for a particular brand.

110. Marketing term: Parallel pricing

The practice of following the pricing practices of

other organizations, particularly competitors.

111. Marketing term: Ethnography

A detailed, descriptive study of a group and its

behavior, characteristics, culture, etc.

112. Marketing term: Acquisition value

The buyers' perceptions of the relative worth of a

product or service to them

113. Marketing term: Price sensitivity meter

A research method for establishing the range of

prices that buyers are willing to pay for a product or

service.

114. Marketing term: Brand Lift

A measurable increase in consumer recall for a

specific, branded company, product or service.

115. Marketing term: Weak product

A product in the decline stage of the product life

cycle or otherwise so short of market value that it is

destined for early abandonment.

116. Marketing term: Kotler's black box model

A model devised by U.S. marketing academic, Philip

Kotler, to explain the hidden nature of consumer

decision-making; using the well-established analogy

of the "black box" to represent the human mind,

Kotler describes the marketer's task as that of trying

to understand why, how, when and from whom,

consumers buy.

117. Marketing term: Negative advertising

The use of advertising messages that concentrate on

pointing out undesirable aspects of competing

products, services, organizations, or ideas. This

technique is frequently used in political advertising

to attack opposing politicians and political ideas.

118. Marketing term: Bingo card

Enquiry card bound into a magazine and containing

matrix of numbers or letters which correlate with

similar keys in advertisements or editorial items.

Facilitates reader enquiries and is usually prepaid for

return to publisher. May also be referred to as

readers' enquiry card.

119. Marketing term: Close-out

An offer at a reduced price to clear slow-moving or

incomplete stock.

120. Marketing term: Genericize

Colloquial term used to describe what happens to a

brand name when it becomes so well recognized by

consumers that the brand serves as the overall

category name. For example: Honda, Xerox, Scotch

tape, Post-it notes, Band-Aid etc

121. Marketing term: Gravity model

A theory about the structure of market areas. The

model states that the volume of purchases by

consumers and the frequency of trips to the outlets

are a function of the size of the store and the

distance between the store and the origin of the

shopping trip.

122. Marketing term: Network effect

The phenomenon whereby a service becomes more

valuable as more people use it, thereby encouraging

ever-increasing numbers of adopters.

123. Marketing term: Laggards

The fifth, and last, group of users to adopt an

innovation.

124. Marketing term: Transfer pricing

The pricing of goods and services that are sold to

controlled entities of the same organization, e.g.,

movements of goods and services within a

multinational or global corporation.

125. Marketing term: Adaptation pricing policy

A pricing for the rest of the world of adapting home

country prices to local competitive and market

circumstances. It also is known as polycentric pricing

policy.

126. Marketing term: Gift

An item of value that is offered by the seller as an

inducement to influence the consideration or

purchase of a product or service.

127. Marketing term: Gift

An item of value that is offered by the seller as an

inducement to influence the consideration or

purchase of a product or service.

128. Marketing term: Joint Demand

a situation in which demand for a product rises and

falls with demand for another product with which it

is used.

129. Marketing term: Derived Demand

Demand for one good or service occurs as a result of

the demand for another intermediate/final good or

service. This may occur as the former is a part of

production of the second. For example, demand for

coal leads to derived demand for mining, as coal

must be mined for coal to be consumed.

130. Marketing term: Residual demand

The market demand that is not met by other sellers

at any given price.

131. Marketing term: Impression management

The process by which individuals attempt to control

the impression other form of them

132. Marketing term: Remarketing

Marketing activity intended to encourage renewed

use of a product in which market interest has

declined

133. Marketing term: Brand Bonding

Building a strong relationship between a brand and

consumers in order to grow and retain customers.

134. Marketing term: Need-directed consumers

Representing consumers, who are motivated by

need rather than by choice.

135. Marketing term: Inner-directed consumers

Representing consumers, who buy to meet their

own inner-needs rather than in response to social

norms.

136. Marketing term: Outer-directed consumers

Representing consumers, who buy something with

an eye to appearances and to what other people

think.

137. Marketing term: Network Externality

Good has a network externality if one person’s

demand depends on the consumption of a good by

others.

138. Marketing term: First-degree Price

Discrimination

The firm sells each unit at the maximum amount

each customer is willing to pay, so prices differ

across customers, and a given customer may pay

more for some units than for others. Also known as

'perfect price discrimination'.

139. Marketing term: Second-degree Price

Discrimination

A firm charges a different price for large quantities

than for small quantities, but all customers who buy

a given quantity pay the same price. Also known as

'Quantity Discrimination'.

140. Marketing term: Palletisation

The packing of goods on to small wooden platforms,

or pallets, for ease of handling in shipment.

141. Marketing term: Bad Question

In a survey or questionnaire, any question that

distorts the fundamental communication between a

researcher and respondent; examples of bad

questions are those that are incomprehensible,

unanswerable, ask for a response to more than one

issue, or are 'loaded' in that they lead the

respondent in a particular way.

142. Marketing term: Bachelor Stage

The first stage of the family life cycle.

143. Marketing term: Hard Sell Approach

An approach to selling in which the salesperson puts

pressure on the buyer to make a commitment to

purchase; an approach typical of the period of the

'selling era' from the 1930s to 1950s.

144. Marketing terms: C-Type Response

A response to an advertisement or an advertising

campaign which is immediately obvious.

145. Marketing term: S-Type Response

A response to an advertisement or an advertising

campaign which is slow to take effect but gradually

gathers pace.

146. Marketing term: Backward Invention

A product strategy in international marketing in

which a company produces a less complex version of

its domestic product for developing and less-

developed countries.

147. Marketing term: Majority fallacy

A marketing strategy that directs a new product to

an entire market, or to the largest segment in it,

solely because of its size. Today, this "shotgun"

approach is felt to be almost always inferior to the

alternative strategy of targeting to smaller segments.

148. Marketing term: Intangible Product Attributes

The unobservable characteristics which a physical

good possesses, such as style, quality, strength,

beauty, etc

149. Marketing term: Tangible Product Attributes

Elements of a product which have physical

dimensions or are discernible by the senses.

150. Marketing term: Balanced Product Portfolio

A product strategy in which a firm maintains an even

combination of new, growing and mature products.

151. Marketing term: Reverse Marketing Channel

A marketing channel in which goods (to be recycled

or reprocessed) flow backward from consumer to

intermediaries to producer; also called a Backward

Marketing Channel.

152. Marketing term: Deferred value

The value which a good or service will deliver at

some future time; for example, a university degree's

deferred value resides in the sum of the benefits it

will provide to the student during his or her lifetime.

153. Marketing term: Deceptive Packaging

Packaging intended to deceive the purchaser;

excessive ullage* creates the impression that the

volume of the contents is greater than it actually is.

*Ullage

The amount by which a bottle, box, packet, etc (of

soft drink, breakfast cereal, potato chips, or the like)

falls short of being full.

154. Marketing term: DIY Goods

Goods produced for the 'do-it-yourself' market.

155. Marketing term: Tactile Communication

A form of nonverbal communication or body

language in which touching, handshaking, kissing,

etc. conveys a message from sender to receiver.

156. Marketing term: Kennel-Keeper

A colloquial term used in reference to a marketer

whose products are largely 'dogs' - those with a

relatively small share of a slow-growth market.

157. Marketing term: Social advertising

The advertising designed to education or motivate

target audiences to undertake socially desirable

actions.

158. Marketing Term: Green Marketing

1. (Retailing definition) The marketing of products

that are presumed to be environmentally safe.

2. (Social marketing definition) The development and

marketing of products designed to minimize

negative effects on the physical environment or to

improve its quality.

3. (Environments definition) The efforts by

organizations to produce, promote, package, and

reclaim products in a manner that is sensitive or

responsive to ecological concerns. (Source: AMA)

159. Marketing Term: Customization VS.

Customerization

Customization means tailoring the product to the

special and unique needs of the customer. Each

buyer is potentially a unique segment. But,

Customerization is the customization of products or

services through personal interaction between a

company and the customer. A company is

customerized when it's able to dialogue with

individual customers and respond by customizing its

products, services, and messages on a one-to-one

basis. Customerization requires a company to shift

its marketing model from seller-centric to buyer-

centric. Here, customer becomes prosumer. (Source:

AMA, Wikipedia, Kotler)

160. Marketing term: Difference between Tagline

and Slogan

A tagline is a brief phrase that will help the

corporation be well known in its industry for years to

come. The main purpose of taglines is to help the

organization market its products or services to a

certain demographic. It also briefly states what the

organization’s goals are for the product. For

example, the tagline of Nokia: “Connecting People”.

Slogans are only used in certain advertising and

marketing campaigns that an organization decides to

take part in. The slogan changes all the time so that

the slogan can be current and resonate well with

consumers. Some slogans might make the consumer

feel safe and include phrases such as we put our

customers first or customer satisfaction guaranteed.

Nokia’s Lumia 900 Slogan: “Free Time Machine in

your Pocket”

Remember some companies may have same tagline

and slogan.

161. Marketing term: Below The Line (BTL)

Describes marketing which has a short-term

duration, such as non-media advertising, direct-mail,

e-mail, exhibitions, incentives, brochures, etc., which

is targeted directly at the consumer/customer. Often

used by companies on a limited budget.

162. Marketing term: PEST Analysis

Political Economical Social and Technological

Analysis. A business tool which is used in strategic

planning and helps to understand the environmental

influences on a business or orgasnisation.

163. Marketing term: Pester power

Pester power is a child's ability to affect their

parents' marketing decisions, often through the use

of nagging, or pestering.

164. Marketing term: Garbology

The study of consumer behavior and preferences for

foods and products by examining disposed goods

and other items found in the trash and garbage.

165. Marketing term: Horizontal buy

A purchase that is made from a direct competitor.

166. Marketing term: Top-of-mind awareness

(TOMA)

TOMA is a brand or specific product coming first in

customers' minds when thinking of a particular

industry.

167. Disruptive innovation

A disruptive innovation is an innovation that helps

create a new market and value network, and

eventually goes on to disrupt an existing market and

value network (over a few years or decades),

displacing an earlier technology.

168. Mojo

Magical or special power, referring to a charismatic

person, or a product with unusually seductive

qualities. Such people can be said to have their

'mojo working', an expression popularized by blues

singer Muddy Waters in his 1957 hit song 'Got My

Mojo Working'.

169. Five Forces Model

A tool developed by Michael Porter that analyzes an

industry in terms of five competitive forces:

bargaining power of suppliers, bargaining power of

buyers, threat of new entrants, threat of substitute

products, and rivalry between existing competitors.

170. Zapping

The act of using a remote control to change

television channels when an advertisement begins.

171. Geographical indications (GIs)

GIs are place names (in some countries also words

associated with a place) used to identify the origin

and quality, reputation or other characteristics of

products. For example, “Champagne”, “Tequila” or

“Roquefort”. -WTO/IPRs

172. Demarketing

1. (Economic definition) A term used to describe a

marketing strategy when the objective is to decrease

the consumption of a product.

2. (Social marketing definition) The process of

reducing the demand for products or services

believed to be harmful to society.

173. Gynocentrism

Promoting female-centered interests at the expense

of men.

174. Free rider

A person who receives the benefits of a good but

avoids paying for it.

175. Emotional Selling Proposition (ESP)

Marketing concept that seeks to create awareness

and acceptance by invoking specific emotional

attributes or feelings— e.g., sex appeal, nostalgia,

etc.

176. NILKIE

No Income, Lots of Kids - a demographic grouping.

177. Kidults

Adults who buy products that are predominantly

aimed at children.

178. Native Advertising

Native advertising is a web advertising method in

which the advertiser attempts to gain attention by

providing content in the context of the user's

experience.

179. Rainmaker

An employee, often an executive, who brings a lot of

business and income to a company.

180. Value Engineering

In manufacturing, a method of producing a product

at the lowest price but without sacrificing quality,

safety, etc., and at the same time meeting the

customers’ needs.

181. Political marketing

Marketing designed to influence consumers about

political issues, particular candidates for public

office, or public issues. Although political marketing

uses many of the same techniques that other forms

of marketing do, it is actually used to promote a

concept or an idea, rather than a specific product or

service, and to motivate people to vote for that idea.

182. Confusion Marketing

Controversial strategy of deliberately confusing the

customer. Examples are alleged to be found in the

telecommunications market, where pricing plans can

be so complicated that it becomes impossible to

make direct comparisons between competing offers.

183. Wow Factor

The instant appeal of a product, property, etc.,

which impresses and surprises people the first time

they see it.

184. Goodvertising (good+ advertising)

A new approach to advertising based on 10 simple

principles: Transparency, Connection, Simplicity,

Collaboration, Passion, Creativity, Contagiousness,

Generosity, Insight, and Full Commitment.

185. Mouse Potato

Amusing modern slang term for a person who sits

for long periods in front of a computer, especially

using the internet, instead of engaging in more

active and dynamic pursuits. Mouse Potato is a

clever adaptation of the older 1970s slang 'couch

potato', referring to a person who spends too much

time sat watching TV, eating and drinking too. Both

terms originated in the USA, although these lifestyles

are certainly not restricted to the USA.

186. House Poor

A situation that describes a person who spends a

large proportion of his or her total income on home

ownership, including mortgage payments, property

taxes, maintenance and utilities. House poor

individuals are short of cash for discretionary items

and tend to have trouble meeting other financial

obligations like vehicle payments.

187. S-commerce

(social + commerce) a type of e-commerce driven by

social media. Some experts explain s-commerce as a

general term which includes all online sales

generated via Facebook, Twitter, Pinterest and other

social media websites.

188. Point of Purchase (POP) advertising

A retail in-store presentation that displays product

and communicates information to retail consumers

at the place of purchase.

189. Profiteering

The taking advantage of a situation such as 'pohela

boishakh' to charge exorbitant prices and realize

excessive profits.

190. Jingle

A short song used in a promotional announcement,

usually mentioning a brand name or product benefit.

191. Blue-Sky Thinking

Open-minded, original and creative thinking, not

restricted by convention.

192. Parallel marriage

When husband and wife both work and share

household tasks.

193. 4Cs, 4Ps & 4As of Marketing

1. Customer solution (Product) [Acceptability] 2.

Customer cost (Price) [Affordability] 3. Convenience

(Place) [Accessibility] 4. Communication (promotion)

[Awareness]

194. Engagement marketing

Sometimes called "experiential marketing," "event

marketing", "live marketing" or "participation

marketing," is a marketing strategy that directly

engages consumers and invites and encourages

consumers to participate in the evolution of a brand.

195. Metamarket

Metamarket describes a cluster of complementy

products and services that are closely related in the

minds of consumers but are spread across a diverse

set of industries.

196. Earned Media

Media coverage that is gained through relationship

building, story pitching, and media relations work, as

opposed to paid advertising or other paid media

placement methods.

197. Reverse Marketing Channel

A marketing channel in which goods (to be recycled

or reprocessed) flow backward from consumer to

intermediaries to producer; also called a Backward

Marketing Channel.

198. Outer-directed consumers

Representing consumers, who buy something with

an eye to appearances and to what other people

think.

199. Developmental Marketing

Marketing activity intended to increase demand for

a product that appears to meet an evident market

need.

200. Grey Market/Parallel market

A grey (gray) market or parallel market is the trade

of a commodity through distribution channels which,

while legal, are unofficial, unauthorized, or

unintended by the original manufacturer. The most

common type of grey market is the sale of imported

goods (brought by small import companies or

individuals not authorized by the manufacturer)

which would otherwise be more expensive in the

country to which they are being imported.

For details:

http://en.wikipedia.org/wiki/Grey_market

201. Astroturfing (astroturf marketing)

Astroturfing is the artificial creation of a grassroots

buzz for a product, service or political viewpoint.

Commercially-motivated astroturfing is called

"astroturf marketing." Astroturf marketing has a

negative connotation, primarily because

disreputable marketers have used deceptive tactics

to build their buzz by taking advantage of the

anonymity the Internet provides.

Astroturf marketers typically use blogs, message

boards, podcasts, wikis, vlogs, chat rooms and social

media Web sites like MySpace when building an

artificial buzz.

202. Intellectual property rights (IPRs)

IPRs are the rights given to persons over the

creations of their minds. They usually give the

creator an exclusive right over the use of his/her

creation for a certain period of time.

203. VRM

VRM stands for Vendor Relationship Management.

VRM tools provide customers with both

independence from vendors and better ways of

engaging with vendors. To vendors, VRM is the

customer-side counterpart of CRM ( Customer

Relationship Management).

For details:

http://cyber.law.harvard.edu/projectvrm/Main_Pag

e

204. S-commerce

( “social” + “commerce”) — a type of e-commerce

driven by social media. Some experts explain s-

commerce as a general term which includes all

online sales generated via Facebook, Twitter,

Pinterest and other social media websites.

205. Citysumers

(city + consumers) — a new type of urban

consumers which are more focused on experiences,

more sophisticated, more demanding and more

mature.

206. Experience Crammers

applies to description of a new consumer behavior.

As consumption gets more temporary and transient,

deconstructing products into shorter, easier to

digest and affordable versions and makes it possible

for consumers to collect even more experiences as

often as possible.