Marketing (Fach) / Terminology (Lektion)

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• Term used in United Kingdom describing a bulk distribution of a unsolicited marketing material. See also spamming. mail shot
• Unsolicited mail sent out usually by direct marketing or direct mail firms. Used mainly for introducing new products, books and magazines, investment opportunities, merchandise catalogs, etc., junk mail is big business in industrialized countries especially the US, UK, and Canada. Unsolicited email is called spam. junk mail
• A commercial or advertisement on TV. This is generally the most hated term for this, and will often get you bitch-slapped. Try "commercial" or "advertisement" first. TV/radio spot
• A span of television programming produced and paid for by an organization, which conveys a message, typically to market a product or service. TV commercial
• 1.Individual or entity who organizes and is committed to the development of a product, program, or project. 2.Advertiser who pays (in part or in full) the cost of broadcasting a radio or television program, by running commercials during the program's broadcast. 3.Donor firm that underwrites a part or whole of the expense of staging a public event through contributions in cash or kind, and is allowed to display advertising banners or to otherwise promote itself or its products during the sponsored event. 4.General partner who organizes and promotes a general partnership or limited partnership. sponsorship
• Oral or written recommendation by a satisfied customer to the prospective customers of a good or service. Considered to be the most effective form of promotion, it is also called word of mouth advertising which is incorrect because, by definition, advertising is a paid and non-personal communication. word-of-mouth advertising
• Non-personal channels of broadcasting a message to the general public, principally the national newspapers, radio, and television. mass media
• Incentive offered by a seller to a buyer for purchasing or ordering greater than usual or normal quantity of goods or materials, to be delivered at one time or over a specified period. quantity discount
• Four distinct but not wholly-predictable stages every product goes through from its introduction to withdrawal from the market: (1) introduction, (2) growth in sales revenue, (3) maturity, during which sales revenue stabilizes, and (4) decline, when sales revenue starts to fall and eventually vanishes or becomes too little to be viable. As a product moves through these stages, its pricing, promotion, packaging, and distribution are re-evaluated and changed if required to prolong its life. In summary, it is the journey from "new and exciting" to "old and dated." product life cycle
• The path through which goods and services travel from the vendor to the consumer or payments for those products travel from the consumer to the vendor. A distribution channel can be as short as a direct transaction from the vendor to the consumer, or may include several interconnected intermediaries along the way such as wholesalers, distributers, agents and retailers. Each intermediary receives the item at one pricing point and movies it to the next higher pricing point until it reaches the final buyer. Coffee does not reach the consumer before first going through a channel involving the farmer, exporter, importer, distributor and the retailer. Also called the channel of distribution. channel of distribution
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• Real or perceived benefit of a good or service that differentiates it from the competing brands and gives its buyer a logical reason to prefer it over other brands. USP is often a critical component of a promotional theme around which an advertising campaign is built. USP
• A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. Sometimes the first P (Product) is substituted by presentation. See also marketing and mega marketing. marketing mix
• Popular for over a hundred years as a sales training tool, it stands for Attention, Interest, Desire and Action as the names for steps to be taken in sequence in a selling process. The salesperson must (1) first make the prospect aware of the product, (2) foster any interest shown, (3) stimulate the desire to buy and possess the product and, finally, (4) encourage action to purchase. AIDA
• A superiority gained by an organization when it can provide the same value as its competitors but at a lower price, or can charge higher prices by providing greater value through differentiation. Competitive advantage results from matching core competencies to the opportunities. competitive advantage
• Economics: Rivalry in which every seller tries to get what other sellers are seeking at the same time: sales, profit, and market share by offering the best practicable combination of price, quality, and service. Where the market information flows freely, competition plays a regulatory function in balancing demand and supply. competitive environment
• Any person or entity which is a rival against another. In business, a company in the same industry or a similar industry which offers a similar product or service. The presence of one or more competitors can reduce the prices of goods and services as the companies attempt to gain a larger market share. Competition also requires companies to become more efficient in order to reduce costs. Fast-food restaurants McDonald's and Burger King are competitors, as are Coca-Cola and Pepsi, and Wal-Mart and Target. competitor/competition
• A retail store that sells discounted price items that are irregular, outdated or have been produced in excess quantities. A factory outlet store specializing in selling goods from a particular business might be located in physical proximity to its manufacturing facilities or in association with other factory outlet stores. factory outlet 
• A store that sells smaller quantities of products or services to the general public. A business that operates as a retail outlet will typically buy goods directly from manufacturers or wholesale suppliers at a volume discount and will then mark them up in price for sale to end consumers. retail shop
• stage at which a sale is made, the ownership (and usually the possession) is transferred from the seller to the buyer, and indirect taxes (such as VAT) become payable. Commonly, a retail outlet. point of sale
• Encouraging a customer who buys a product (gasoline, for example) to buy a related or complementary product (engine oil, for example). Cross-selling is generally illegal if there is a tie-in between the two products; where the customer must buy one in order to buy the other. cross selling
• Increasing the number of products within an existing product range with similar products that have additional or different features. When a business already has a well established brand, it can use line stretching to expand its product line and help increase its market share without having to develop substantially new products. line strechting
• A function of an item which is capable of gratifying a particular consumer need and is hence seen as a benefit of owning the item. In business, a product feature is one of the distinguishing characteristics of a product or service that helps boost its appeal to potential buyers, and might be used to formulate a product marketing strategy that highlights the usefulness of the product to targeted potential consumers. product features
• Particular group of people, identified as the intended recipient of an advertisement or message. Also called target population. target group
• custom-made; made-to-order; made-to-measure tailor-made products
• Alternative term for market. marketplace
• 1.Point at which a market is no longer generating new demand for a firm's products, due to competition, decreased need, obsolescence, or some other factor. 2.Measure of the extent of a product's sales volume relative to the number of total potential customers, expressed as a percentage. Formula: Sales volume of a product x 100 ÷ Number of total potential customers. market saturation
• A specific market is identified and its size and other characteristics are measured. marketresearch
• Unique price at which buyers and sellers agree to trade in an open market at a particular time. In formal markets (such stock exchanges) there are two market prices: the offer (selling) price which is higher, and bid (buying) price that is lower. The difference between these two price is called margin or spread. market price
• The total amount of a product (good or service) available for purchase at any specified price. market supply
• Newly identified need, want, or demand trend that a firm can exploit because it is not being addressed by the competitors. plural market-opportunities
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• The process of defining and subdividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. market-segmentation
• An identifiable group of individuals, families, businesses, or organizations, sharing one or more characteristics or needs in an otherwise homogeneous market. market-segment
• Characteristic of a market into which a firm is entering or into which a new product will be introduced, such as number of the competitors, level or intensity of competitiveness, and the market's growth rate. market-condition
• The debut of a product into the market. The product launch signifies the point at which consumers first have access to a new product. launch
• A percentage of total sales volume in a market captured by a brand, product, or company. market-share
• Brand, product, or firm that has the largest percentage of total sales revenue (the market share) of a market. market-leader
• The activity or fact of increasing the market share of an existing product, or promoting a new product, through strategies such as bundling, advertising, lower prices, or volume discounts. market-penetration
• Market situation where one producer (or a group of producers acting in concert) controls supply of a good or service, and where the entry of new producers is prevented or highly restricted. Market monopoly
• Point at which a market is no longer generating new demand for a firm's products, due to competition, decreased need, obsolescence, or some other factor. market-saturation
• The behavior in the marketplace. market-performance
• The estimated maximum total sales revenue of all suppliers of a product in a market during a certain period. market-potential
• A small but profitable segment of a market suitable for focused attention by a marketer. market-niche
• Broad category that covers mass-market items divided into consumer durables, consumer non-durables, and soft goods. consumer-goods
• Market dominated by products and services designed for the general consumer consumer-market
• Problems that customers intend to solve with the purchase of a good or service. consumer-needs
• Desire for certain good or service supported by the capacity to purchase it. consumer-demand
• A description of a customer or set of customers that includes demographic, geographic, and psychographic characteristics, as well as buying patterns, creditworthiness, and purchase history. consumer-profile
• Purchase of the same brand over and over again, more due to absence of dissatisfaction than because of a positive loyalty consumer buying habit
• A category of consumer goods, durables are products that do not have to be purchased frequently. consumer durables
• Statutes enacted to safeguard consumer rights by (1) enforcing or enhancing product safety standards, (2) increasing the availability of consumer interest related information, and/or (3) preventing use of deceptive marketing techniques. consumer-protection

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