Design and Marketing Dictionary

Industrial analysis

2012-01-23T11:53:00.000-08:00

The assessment of thepotential attractiveness of a market. It involves analyzing a particular industry, including competing firms,intermediaries, suppliers and the labour force.

Burke Day-After Recall test

2012-01-23T10:53:00.000-08:00

A popular method of post-testing television commercials using a day-after recall test.

Spatial maps

2012-01-22T22:48:00.001-08:00

One of the statistics and terms associated with multidimensional scaling procedure. Spatial maps are the perceived relationships among brands or other stimuli are represented as geometric relationships among points in a multidimensional space.

Balance-of-trade deficit

2012-01-19T12:30:00.000-08:00

A situation where the monetary value of a country’s imports exceeds its exports

Boutique layout

2012-01-19T07:42:00.001-08:00

A form of free-flow layout often adopted by large retailers that create mini-stores aimed at specific target groups within a larger store. Each mini-store is aimed at a specific market and is often a grouping of merchandise from a single country, company or designer.

Structure (questionnaire)

2012-01-18T11:25:00.001-08:00

Degree of standardizationimposed on the data collection instrument. A highly structured questionnaire, for example, is one in whichthe questions to be asked and the responses permitted subjects are completelypredetermined, while a highly unstructured questionnaire is one in which the questions to beasked are only loosely predetermined and respondents are free to respondin their own words and in any way they see it.

Enterprise marketing management (EMM)

2012-01-17T05:08:00.001-08:00

A new term, which refers to the automation of certain repetitive processes that are repetitive in nature and commonly used in marketing management. The other names are marketing resource management (MRM), and marketing automation systems (MAS)

Material culture

2012-01-15T22:00:00.000-08:00

The standard of living or level of economic development, which a society has achieved.

Market profile

2012-01-15T08:57:00.000-08:00

A demographic and psychographic description of the people or the households of a product’s market. It may also include economic retailing information about a territory.

Balance of payments

2012-01-13T06:41:00.001-08:00

The account that details all the economic transactions involving goods, services and investments that occur between one nation and other nations in a given period.

More usage strategy

2012-01-12T18:24:00.000-08:00

A market expansion strategy where a company tries to convince people to use more product per use occasion. For example, shampoo manufacturers may convince consumers to use more shampoo by printing the directions on the label of the package.

Stereotypes

2012-01-12T01:23:00.000-08:00

A standardized and oversimplified mental picture of various kinds of stimuli or a group. These stereotypes serve as expectations of what specific situations or people or events will be like and are important determinants of how such stimuli are subsequently perceived.

Characteristic profile

2012-01-11T02:04:00.001-08:00

Used in the context of marketing research projects, this is an aid to interpreting discriminant analysis results by describing each group in terms of the group means for the predictor variables. If the important predictors have been identified, then a comparison of the group means on these variables can assist in understanding the intergroup differences.

Problem - solver stage

2012-01-10T15:34:00.001-08:00

A stage of personal selling in which the seller obtains the participation of buyers in identifying their problems, translates these problems into needs, and then presents a selection from the supplier’s offerings that can solve those problems.

Market minimum forecast

2012-01-10T13:25:00.000-08:00

The base level sales that would take place without any demand stimulating expenditures. For this reason, it can be called market minimum.

Product form

2012-01-09T22:30:00.000-08:00

The physical shape or nature of a good or the sequential steps in a services is provided by one or more technologies and yields benefits to the user; for example, front-wheel-drive form of an automobile, sedan, SUV, etc. Differences in form of service include discount and full-service stockbrokers.

Measurement

2012-01-09T13:20:00.001-08:00

It refers to assigning of numbers to objects to represent quantities of attributes according to certain specified rules. What is measured is not the object, but some characteristic of it. Thus in marketing research, one does not measure consumers—only their perceptions, attitudes preferences, or other relevant characteristics. These numbers permit statistical analysis of the resulting data.

Buyer-readiness stages

2011-12-06T18:14:00.000-08:00

The stages consumers normally pass through on their way to purchase, including awareness, knowledge, liking, preference, conviction, and purchase.

Imitation barrier

2011-12-06T02:19:00.000-08:00

A structure of organizational design and capability that must be adapted for Web use, and can be a competitive advantage.

Loss leader pricing

2011-12-05T18:10:00.000-08:00

A pricing strategy used by supermarkets and departmental stores when they drop the price on well-known brands and advertise in local media to attract additional store traffic. This strategy works when the revenue on the additional sales compensate for the lower margins on the loss-leader items.

Subsidies

2011-12-05T11:10:00.000-08:00

Direct or indirect financial assistance from governments to companies, making them more competitive in the foreign markets. Government subsidies may help companies be competitive to overcome market imperfections, which are least controversial. However, there is little agreement on what a subsidy is. There has been a recent increase in export-credit assistance.

Testimonials

2011-12-04T17:04:00.000-08:00

One of the popular formats of an advertising where a person praises the product or service on the basis of his or her experience. Testimonials also use celebrities for a product or service who speak highly of its benefits in order to influence consumers to buy.

Law of diminishing returns

2011-12-04T07:03:00.000-08:00

Additional units of input will first result in increasing, then diminishing, and finally negative returns.

Competitor analysis

2011-12-03T19:23:00.000-08:00

The process of identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction patterns; and selecting which competitors to attack or avoid.

Conservative decision rule

2011-12-03T13:23:00.000-08:00

A decision style characterized by an effort on the part of the buyer to minimise the risk in a purchase.

Consistent estimator

2011-12-03T13:21:00.001-08:00

A sample statistic that approaches the population parameter as sample size increases.

Unconscionable lies in advertising

2011-12-01T00:30:00.000-08:00

Deceptive advertisements in which completely false claims are made intentionally.

Profit margin

2011-11-30T22:59:00.000-08:00

The ratio of net profit to net sales, showing how much profit a company makes on sales after all expenses and taxes are paid.

Two-way exclusive dealing

2011-11-30T19:05:00.000-08:00

Supplier offers the retailer the Exclusive distribution of a merchandise line or product if, in return, the retailer will agree to do something for the supplier. This is usually not handling competing brands and is potentially illegal.

Marketing objectives

2011-11-30T17:44:00.000-08:00

Goals to be accomplished by an organization’s overall marketing program such as sales, market share, or profitability.

Traffic building premium

2011-11-30T15:03:00.000-08:00

A sales incentive given to the retailers to encourage the customers to come to a store where a sale can be closed.

Monopolistic competition

2011-11-30T11:02:00.000-08:00

Market in which several competitors offer products that are relatively heterogeneous to the consumer.

Third-party logistics provider

2011-11-29T03:20:00.000-08:00

An independent logistics provider that performs any or all of the functions required to get its clients' product to market.

Conjunctive decision rule

2011-11-27T11:54:00.000-08:00

A type of decision rule for evaluating alternative brands where consumers establish minimally acceptable levels of performance for each important product attribute and accept an alternative (brand) only, if it meets the cutoff level for each attribute.

Bait and switch pricing

2011-11-27T05:25:00.000-08:00

A form of deception in pricing practices that involves a low price offer intended to lure customers into a store where a salesperson tries to influence them to buy higher priced items.

Strap line

2011-11-27T02:58:00.000-08:00

Used in the context of advertising this refers to a slogan or signature slogan, usually placed at foot of an advertisement, e.g. The Ultimate Driving Machine (BMW), More Car Per Car (Indica).

Quality-price specialist

2011-11-26T10:39:00.000-08:00

A niche marketer that operates at the low or high quality ends of the market.

Rooky

2011-11-25T03:24:00.000-08:00

A name given to a new inexperienced salesperson.

Superego

2011-11-25T02:52:00.000-08:00

One of the components of Freud’s psychoanalytic theory. Superego is the leash on the id and works against its impulses. It does not manage the id but restrain it by punishing unacceptable behavior through the creation of guilt. It is that part of the personality that reflects society’s moral and ethical codes of conduct. The superego represents the ideal rather than the real. It motivate people to act in a moral way.

Triad strategy

2011-11-24T09:37:00.000-08:00

A strategy proposing that a multi national corporation (MNC) should have a presence in Europe, the United States, and Asia (especially Japan).

Upseling

2011-11-24T04:54:00.000-08:00

A telemarketing technique designed to sell additional merchandise to callers.

Order-to-payment cycle

2011-11-24T03:22:00.000-08:00

One of the issues faced by a company in market logistic decisions, which refers to the time elapsed time between the order’s receipt, delivery, and payment. This cycle involved many steps, including order transmission by the salesperson, order entry and customer credit check, inventory and production scheduling, order and invoice shipment, and receipt of payment. Company should try to reduce this cycle because the longer this cycle takes, the lower the customer’s satisfaction and the lower the company’s profits.

Trickle-down theory of fashion

2011-11-24T02:52:00.000-08:00

The perspective that fashions spread as the result of status symbols associated with the upper classes "trickling down" to other social classes as these consumers try to emulate those with greater status

Customer agents

2011-11-23T20:34:00.000-08:00

Software packages or online shopping services that go to different vendors and compare prices and terms of sale on behalf of a customer.

Reverse logistics

2011-11-23T15:19:00.000-08:00

Refers to all logistics that encompasses all merchandise flows from the retailer back through the supply channel.

Innovation-adoption model

2011-11-23T07:27:00.000-08:00

A model developed by Everett M. Rogers (1962) that represents the stages a consumer passes through in the adoption process for an innovation such as a new product. The series of steps includes: awareness, interest, evaluation, trial and adoption.

Average quarter-hour share

2011-11-23T04:59:00.000-08:00

The percentage of the total listening audience tuned to each station as a percentage of the total listening audience in the survey area.

Media buyer

2011-11-23T01:59:00.000-08:00

Agency executive who negotiates purchase of space/time with advertisement manager of a publication / media.

Subliminal perception

2011-11-22T15:06:00.000-08:00

Perception of a stimulus below the conscious level. If the stimulus is beneath the threshold of conscious awareness but above the absolute threshold of perception, it is known as subliminal perception (The conscious level is referred to as the limen; thus perception below the conscious level is subliminal or below the absolute threshold.)

Limited decision making

2011-11-22T10:39:00.000-08:00

A type of buying situation where a consumer uses every step in the purchase process but does not spend a great deal of time on each of them.

Measurement timing error

2011-11-22T07:59:00.000-08:00

Occurs when the pre-or post-measurement is made at an inappropriate time to indicate the effect of the experimental treatment.

Bulkhead

2011-11-22T06:59:00.000-08:00

Spaces available for advertisements above windows of bus interior

Import deposit requirement

2011-11-20T16:18:00.001-08:00

Governmental requirement of a deposit prior to the release of foreign exchange.

Bundled pricing

2011-11-20T10:14:00.000-08:00

A strategy used by retailers where they pack together several complimentary products and offer them at one basic price. For example, packing a razor, blade, and a brush.

Action close

2011-11-20T06:14:00.000-08:00

One of the sales closing techniques that is suggestive of the sales representative taking an action, which may lead to getting the sales order from the prospective customer.

Payoff table

2011-11-19T18:24:00.000-08:00

Table concerning three elements; alternatives, states of nature, and consequences of each alternative under each state of nature.

Informative advertising

2011-11-19T14:21:00.000-08:00

A type of advertising, which is based on objectives to be achieved. Its basic aim is to create awareness and knowledge of new products or new features of existing products.

Inflation

2011-11-19T11:21:00.000-08:00

A general rise in price level that reduces consumer purchasing power. Inflation is a dimension of the economic environment that affects the interest rates, exchange rates, the cost of living, and the general confidence in a country’s political and economic system.

Income segmentation

2011-11-18T09:01:00.000-08:00

Dividing a market into different income groups.

Intrazonal trade

2011-11-17T20:40:00.000-08:00

Trade among countries that are part of a trade agreement, such as the EU.

Audience coverage

2011-11-17T10:37:00.000-08:00

A measure of the potential audience that might receive an advertising message through a particular media vehicle.

Private responses

2011-11-17T09:30:00.000-08:00

Complaints, which the consumer makes to friends or family about products or services.

Behavioral influence perspective

2011-11-17T06:40:00.000-08:00

The view that consumer decisions are learned responses to environmental cues.

Dimensional analysis

2011-11-17T06:37:00.000-08:00

An analytical attribute approach technique whereby new concepts are generated from an exhaustive listing of dimensions of products in a given category.

Terms of trade

2011-11-16T20:46:00.000-08:00

The quantity of imports that can be bought in a given quantity of a country’s export.

List broker

2011-11-16T15:45:00.000-08:00

In direct-mail advertising an agent who rents the prospect lists of one advertiser to another advertiser. The broker receives a commission from the seller for this service.

Buyer turnover

2011-11-16T08:46:00.000-08:00

A term which expresses the rate at which new buyers enter the market; the higher this rate the more continuous the advertising should be.

Sublimation

2011-11-16T08:45:00.000-08:00

The manifestation of repressed needs in a socially acceptable form of behavior: a type of defense mechanism.

Media schedule

2011-11-15T20:18:00.000-08:00

The detailed plan or calendar showing when ads and commercials will be distributed and in what media vehicles they will appear.

Maslow’s need hierarchy

2011-11-15T15:17:00.000-08:00

A theory of motivation that postulates that individuals strive to satisfy their needs according to a basic hierarchical structure, starting with physiological needs, then moving to safety needs, social needs, egoistic needs, and finally selfactualization needs.

Display outer

2011-11-15T10:16:00.001-08:00

Point-of-sale display piece in form of carton for small unit goods, which can be converted into a dispenser with a display panel when folded out of lid. Used for counter and shelf displays.

In-home tests of advertising effectiveness

2011-11-14T14:42:00.000-08:00

In broadcast media, a videotape of those advertisements which are to be tested are taken into
the homes of target consumers, who then view and rate the advertisement on some criteria.

Incremental innovation

2011-11-14T06:40:00.000-08:00

A strategy of producing a stream of new products, each of which is an improvement on earlier models. Mostly singles.

Brand communities

2011-11-14T02:38:00.000-08:00

Groups of consumers who feel a commonality and a shared purpose grounded or attached to a consumer good or service.

Continuous innovation

2011-11-12T08:43:00.000-08:00

A new product entry that is an improved or modified version of an existing product rather than a totally new product. A continuous innovation has the least disruptive influence on established consumption patterns.

Through-the-line agency

2011-11-10T17:24:00.000-08:00

A type of advertising agency, which offers both above-the-line and below-the-line advertising.

Channel management decisions

2011-11-10T08:37:00.000-08:00

One of the important channel decisions where a company selects, trains, motivates, and evaluates the channel performance. Channel management must be modified over a period of time in order to keep them economically viable.

Stakeholder

2011-11-10T01:23:00.001-08:00

Anyone who stands to gain or lose from the performance of a company. Stakeholders include customers, employees, suppliers, resellers, etc.

Mixed-effects model

2011-11-09T18:12:00.000-08:00

this term is used in the context of analysis of variance. A mixed-effect model results if some treatments are considered fixed and other random.

Morphing

2011-11-09T11:11:00.000-08:00

Special computer graphics effect often used in TV commercials, such as when a vacuum cleaner is shown sucking up objects. It is a technique that enables transforming of one object into another object. Creates bending and stretching or warping effects.

Space productivity

2011-11-09T00:11:00.001-08:00

A measure of store or retail outlet productivity. It is the net sales divided by total square feet of retail selling space.

Customer database

2011-11-08T10:55:00.000-08:00

An organized collection of comprehensive data about individual customers or prospects, including geographic, demographic, psychographic, and behavioral data.

Micro economic approach

2011-11-07T21:10:00.000-08:00

An analysis concerned with outputs and prices in individual markets.

Psychological tools in research

2011-11-07T18:57:00.000-08:00

All those psychological tools that marketing researchers use in probing a buyer’s deeper beliefs and feelings. These may include laddering techniques, depth interviews, and Rorshach tests.

Perfect/pure competition

2011-11-07T13:30:00.000-08:00

One of the possible market structures where many competitors offer the same product and service (stock market, commodity market). Because there is no basis for differentiation, competitors’ proices will be the same. No competitor will advertise unless advertising can create psychological differentiation in which case it would be more proper to describe the industry as monopolistically competitive.

Massed promotion effort

2011-11-07T10:00:00.000-08:00

A type of promotion, which is used by retailers that promote mostly in one or two seasons.

Activity management

2011-11-06T21:29:00.000-08:00

A sales management style that concentrates on the behaviour of salespeople rather than on the outcomes of the behavior.

Run of paper (ROP)

2011-11-06T18:19:00.000-08:00

The basic rate quoted by newspapers, which means that the paper can place the ad to appear on any page or in any position desired by the medium.

Environmental arousal

2011-11-06T11:11:00.000-08:00

Motives activated at a particular time by specific cues in the environment.

Quality cues

2011-11-06T08:14:00.000-08:00

Indicators or signs, which help the users gauge quality of a product/website/service.

Demographic characteristics

2011-11-06T08:09:00.001-08:00

Objective descriptors of individuals and households: include age, income, family size, and employment status.

Sticky site

2011-11-05T20:18:00.000-07:00

A web site at which a user spends a large amount of time. It has high visit duration.

At-home shopping channels

2011-11-05T18:20:00.000-07:00

One of the new advertising media that has emerged in the recent years. Here, some television channels are dedicated to selling goods and services by broadcasting 24-hours promotional programming. In return the viewers can give their orders on a toll free number and receive delivery in a stipulated time.

Statement of cash flow

2011-11-05T15:18:00.001-07:00

An accounting statement that gives the detailed list of the sources and types of all expenditures and revenues for a iven period.

Reidenbach and Robin scale

2011-11-05T11:20:00.000-07:00

It is a multi item, multi dimensional scale developed by Reidenbach and Robin used for measuring the ethical perceptions of managers.

Auction enabler

2011-11-04T18:00:00.000-07:00

A type of online service, which helps an auction house to run an effective physical auction.

Competitive advantage

2011-11-04T10:54:00.000-07:00

It refers to the edge one company or product enjoys over another. Competitive advantages may include superior product features or performance, lower pricing, better reputation, more available resources, proximity to markets, more flexibility and so forth. When attacking a market one of the first thing that should be studied is how to gain an advantage over the competition.

Prepaid expenses

2011-11-03T18:42:00.000-07:00

Goods and services that the retailer has already paid for but has not yet received.

Total customer value

2011-11-03T13:29:00.000-07:00

It is the perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given product or service.

Computerized database

2011-10-30T20:16:00.000-07:00

A collection of information or data that is available to users by means of a computer terminal. Many commercial computerized databases, such as mailing lists, industry analyses, and governmental indexes, are available for lease or outright purchase.