Flight or “Wave”

The term in media planning indicating the active segments of delivering ad messages within an advertising campaign when periods of activity and inactivity succeed one another, i.e. when the advertising campaign follow Flighting or Pulsing.

See also: Drop

Closed-loop marketing

The kind of marketing relying on data based insights regarding leads and customers. Usually such data is provided by sales people who report to the marketing specialist within the company info on the status of a situation before reinforcements with certain actions and data on the change with situation after that, i.e. the “loop” lying between the stimuli and the effects.

Marginal rate of substitution (MRS)

1) The extension of the rate on the Indifference curve at which a consumer would give up using one product/ service and switch to another one. For example, the more frequent the consumption of a product with a certain brands name is, the more likely it becomes for the consumer to start using the same product with a new brand soon instead, i.e. in this case the MRS decreases. This example illustrates the principle that the more a good is used the less is satisfaction of each additional unit.
2) The number of units of one product (i.e. hamburgers) that a consumer is ready to give up in order to obtain 1 extra unit of another product (i.e. a beer).

Flighting (Flight scheduling)

The type of a pattern in media planning aimed at achieving certain saturations of ad messages over strategic short periods within an ad campaign instead of running them steadily over its entire continuity. The succession of heavy advertising delivery is usually over 2 weeks.

See also: Continuous pattern, Pulsing, Continuity, Flight

Differential marketing

Differential marketing strategies allowing marketers to tailor offers out of large product assortments and address efficiently the correspondent target audiences. This approach implies that different customers are treated differently in running marketing initiatives, i.e. direct mail offer designed in the looks and calling the action of a specific group of customers rather than sending out a typical offer to the whole mail list.

Product alliance (Service alliance)

Strategic partnership between two/ several companies that may be motivated by various reasons (lower production costs/ marketing costs). By virtue of such alliance two or more business entities agree to act jointly on the market for their new or existing products (or services)

Case rate (Case price)

Pricing estimation methodology providing account for marketing and production/ preparation costs for new products and services under ideation that usually feature certain specialization, for example, a telecom company estimating its associated costs for the possibility to launch newly packaged services in a bundle to the needs of a specific target group. Its consideration helps assessing possible revenues from a tailored offer to the market and whether it is worth the launch and maintenance; if it needs certain fixing of its parameters, or it would be better that the ideation is abandoned for some other, more profitable efforts.

Fashion cycle

Period of time during which a certain style of apparel and type of accessories in fashion industry go through certain stages of rise, peak and abandonment and after that preferences change into another fashion mode. Fashion traits first gain acceptance and after some time lose it with consumers’ needs for fresh and new methods in this field.

Marketing objective

Needed result to be achieved within a marketing campaign or within a period of time. Objectives are broader than goals, i.e. objectives comprise specific goals and steps for the desired effect to take place. Methods of tracking, control and evaluation of campaigns, as well as choosing most efficient marketing channels and marketing communications depend on the type of an objective that is being sought out as an outcome.

ACORN (A Classification Of Residential Neighborhoods)

System directory enabling quick marketing segmentation for UK (grouped  into 39 district types) and the US (39 district types). Classification is based on multiple criteria, such as average income, ownerships of home, area facilities, travel means, composition, demography, etc., etc. Segmentation is quick and easy under this directory by simply entering consumers' postcodes.

Target rating points (TRPs), Gross rating points (GRPs)

TRP as a measurement in marketing is focusing on that ratio of all recipients through the whole reached audience (i.e. through the Gross rating points – GPRs) that are considered to be the “right target” for a specific product and/or service. TRPs are thus subdivisions out of GPRs. For example, an advertiser spends in a campaign using radio as a channel to reach all men in a region (GPR) while the core target for his products are men 35-55 years of age (TRP). Determining both in a right way is critical to employment of marketing channels of communication

Marketing Opportunity Analysis (MOA)

In-depth study of existing and potential opportunities on the market, focusing on competition, demand trends and peculiarities of market segments.

Social Cost Benefit Analysis (SCBA)

Measuring the social impact of a private project or a state policy, i.e. how these would affect people’s lives is analyzed. Social Costs measure negative impact, while Social Benefits stand for the positive impact. SCBA focuses on factors like environmental effects, traffic, demography, i.e. aspects of no market pricing. It is typically used before launching larger project in building and construction. Sometimes SCBA may also affect projects pricing.

Competence scope

Full range of technological, industry and other quality shapers that a business could bring up and use as an advantage in front of its rivals on the market.

Regiocentrism

Orientation focusing on a particular region globally or within a nation. A regiocentric company shapes its product lines in accordance with regional consumers preferences and salient beliefs, i.e. Indian McDonald’s sells veggieburgers and chicken sandwiches as Indians don’t eat veal.

Reilly's law

Model of retail gravitation, defining the ability of two cities to attract customers to each of both locations. The law states that the larger cities influence and attract consumers better than smaller ones, i.e. people tend to travel longer to reach big cities.

Communications component

In the field of marketing communications, it refers to that portion of media plans that considers effectiveness of message delivery as contrasted to efficiency of audience delivery.

Net audience (Unduplicated audience)

The number of authentic individuals or household reached by a particular marketing communications message through media vehicle throughout a specific period of time.

Competitive assortments

Special product assortments offered by a retailer at discounted prices, aimed at attracting customers and generating traffic of buyers to the store as a core purpose rather than profit reasons.

Consumption constellation

The set of products and services used by consumers in order to sustain their social status. Consumers that belong to upper classes of society tend to purchase goods that confirm their position.