1.

Marketing
The process of planning and executing the conception, pricing, and distribution of ideas,
goods, and services to create exchanges that satisfy individual and organizational
objectives.
2. Consumer/customers
Individuals who have needs/wants that can be satisfied by the marketer's product or service.
3. Transaction
An exchange between the person with the need and the organization selling the needsatisfying thing, inherently economic-based.
4. Internal marketing
Attempting to ensure that all employees are positive ambassadors of the organization.
5. Competitive advantage
Convince buyers (potential customers) that what you have to offer them comes closest to
meeting their particular want or need at that point in time.
6. Marketing concept
Understanding the consumer and working from the customer back rather than factory
forward.
7. Market aggregation (undifferentiated marketing)
Treating an entire market uniformly, making little or no attempt to differentiate marketing
effort.
8. Product differentiation
A marketing strategy that emphasizes distinctive product features without recognizing
diversity of consumer needs.
9. Market segmentation
Dividing a total market into several submarkets or segments, each of which is homogeneous
in all significant aspects, for the purpose of selecting one or more target markets on which to
concentrate marketing effort.
10. Concentration strategy
Used by an organization that chooses to focus its marketing efforts on only one market
segment.
11. Multi-segment strategy
Used by an organization that chooses to focus its marketing effort on two or more distinct
segments.
12. Ultimate user
An individual or organization that buys and/or uses products or services for their own
personal consumption.
13. Industrial user
An organization that buys products or services for use in their own businesses, or to make
other products.

14. Demographic characteristics

Statistical characteristics of a population often used to segment markets, such as age, sex,
family lifecycle, income, or education.
15. Usage rate
A segmentation base that identifies customers on the basis of the frequency of use of a
product.
16. Purchase occasion
A segmentation base that identifies when they use the product.
17. User status
A segmentation base that identifies customers on the basis of patterns of use, such as onetime or regular use.
18. Loyalty
A segmentation base that identifies customers on the basis of purchase patterns of particular
brands.
19. Stage of readiness
A segmentation base that identifies customers on the basis of how ready a customer is to
buy.
20. Psychological segmentation
The use of attitudes, personality, motives, and lifestyle to identify customers.
21. Attitude
A predisposition to behave in a certain way to a given stimuli.
22. Personality
All the traits of a person that make him/her unique.
23. Motive
A reason for behavior.
24. Lifestyle
A pattern of attitudes, interests, and opinions held by a person.
25. Organizational markets
A market consisting of those organizations who buy products or services for their
businesses, for use in making other products, or for resale.
26. Standard industrial classification (SIC)
A U.S. Government publication that classifies business firms by the main product or service
provided.
27. Single-base segmentation strategy
The use of a single base to segment markets.
28. Multi-base segmentation strategy
The use of two or more bases to segment markets.

29. Clarity of identification

The degree to which one can identify those inside and those outside the market segment.
30. Actual need
Overt demand for existing goods or services.
31. Potential need
A need that can be changed into perceived wants through such means as education or
persuasion.
32. Effective demand
Actual or potential needs existing along with purchasing power (income, savings, and credit)
belonging to members of a market segment.
33. Economic accessibility
Members of a market segment must be reachable and profitable.
34. Marketing research
The scientific and controlled gathering of no routine marketing information undertaken to
help management solve marketing problems.
35. Informal assessment
An unstructured search of the marketing environment.
36. Research design
Plan proposed for testing the research questions as well as collecting and processing
information.
37. Experimental approach
Variable interest must be manipulated ami everyone participating in the experiment must
have a known and equal chance of being selected.
38. Survey approach
Marketing information is collected either from observation or by questionnaire interview.
39. Secondary source - data Information that has been previously published and can come
from within or outside the business.
40. Primary information - Information gathered to address a particular problem.
41. Data processing - Procedures for sorting, assembling, and reporting data.
42. Market -A group of potential buyers with needs and wants and the purchasing power to
satisfy them.
43. Need - A basic deficiency given a particular situation.
44. Want - Placing certain personal criteria as to how a need should be fulfilled.
45. Information search - Involves the mental as well as physical activities that consumers must
perform in order to make decisions and accomplish desired goals in the marketplace.
46. Attitude - An opinion we hold toward a person, idea, place, or thing.
47. Cognitive dissonance - Negative feelings the consumer has after purchase.
48. High-involvement decisions - Decisions that are important to the buyer because they are
closely tied to self-image and have an inherent risk.
49. Low-involvement decisions - Decisions that are not very important to the buyer because
ego is not involved and risk is low.
50. Culture - A large group of people with a similar heritage.

51. Social class - People grouped together because of similar occupation, wealth, income,
education, power, and prestige.
52. Reference groups - Individuals who share common attitudes and behavior.
53. Family Lifecycle - Predictable stages experienced by families.
54. Learning Changes - Behavior resulting from previous experiences.
55. Socialization - The process by which persons acquire the knowledge, skills, and
dispositions that make them more or less able members of their society.
56. Motivation - An inner drive or pressure to take action to satisfy a need.
57. Personality - A term used to summarize all the traits of a person that makes him/her unique.
58. Lifestyle - A profile of an individual as reflected in their attitudes, interests. And opinions.
59. External environment - Forces external to the organization that affect organization and
marketing decision making.
60. External analysis - The identification of trends, opportunities, and threats that will influence
marketing strategy and tactics.
61. Marketing research supplier - An external agency that specializes in the conduct of
marketing research demography-the study of important population statistics such as age,
income, sex, and location of people.
62. Business cycle - The pattern that is generally followed by a fluctuating economy.
63. Prosperity - A period of time during which the economy is growing.
64. Recession - A period of time that is characterized by a decrease in the rate of growth of the
economy.
65. Depression - A long-lasting recession during which unemployment is very high, buying
power is very low, and consumers are unwilling to spend.
66. Recovery - A period of time in which unemployment begins to decline, buying power
increases, and consumers become more willing to purchase products.
67. Technology - The knowledge of how to accomplish tasks and goals.
68. Buying power - The ability of a consumer to make purchases.
69. Regulators - The set of laws, agencies, and policies established to ensure that marketers
compete international marketing the marketing of a company', products and/or services
outside of that company's home nation.
70. Multinational marketing - Firms that are involved in marketing as well as production,
research, human resource management and the employment of a foreign work force.
71. Dumping - A practice in which a firm attempts to sell discontinued products, seconds, or
repaired products in overseas markets at below domestic prices.
72. Exchange rate - The value of one nation's currency in relation to that of another country.
73. Tariff - A tax placed on imported goods.
74. Expropriation - The act of a government taking ownership of a firm's plants.
75. Indirect exporting - Occurs when all of a firms foreign sales are made through the firm's
domestic sales department.
76. Semi direct exporting - Occurs when a firm sells products in foreign markets through
agents, merchant middlemen, or other manufacturers.
77. Combination export manager - A domestic agent intermediary that acts as an exporting
department for several noncompeting firms.
78. Manufacturers export agent Similar to manufacturer's agents in domestic product setting.
79. Piggyback exporting - A situation in which one manufacturer that has export facilities and
overseas channels of distribution will handle the exporting of another firm's noncompeting
but complementary products.
80. Direct exporting - Occurs when a firm establishes an export department to sell directly to a
foreign firm

81. Licensing - An agreement in which a firm (licensor) provides some technology to a foreign
firm (licensee) by granting the firm the right to use the licensor's manufacturing process
Brand name, or sales knowledge in return for some payment.
82. Joint venture - A partnership between a domestic firm and a foreign firm.
83. Straight extension - The introduction of the same product and the same message in every
foreign market.
84. Communication adaptation - A strategy used in foreign markets when the same product
can be used to satisfy different needs, or if a product is used in a different way in foreign
market
85. Product adaptation - A product is changed to meet individual foreign target market needs.
86. Product - Anything, either tangible or intangible, offered by the firm as a solution to the
needs and wants of the consumer, that is profitable or potentially profitable and meets the
requirements of the various publics governing or influencing society.
87. Consumer goods - Products purchased for personal consumption with no intention of
selling to others.
88. Industrial goods - Products purchased by an individual or organization in order to modify
the product or distribute it for a profit
89. Packaging - Provides protection, containment, communication, and utility for the product.
90. Product lifecycle - A product planning tool that parallels the stages of the human lifecycle.
91. Brand Identifies of the product and distinguishes it from competitors.
92. Position - A strategic management decision that determines the place a product should
occupy in a given market.
93. Advertising (consumer's perspective) - One of several incoming messages directed at the
consumer, the salience of which is influenced by the emotional, physical, and need state of
the individual, and the benefit of which can be information, motivation, and entertainment.
94. Advertising (societal perspective) - An institution of society that has the capability of
informing the citizen, stimulating economic growth, and providing knowledge useful in
decision making, as well as the tendency both to misallocate scarce economic resources
and lead consumers to engage in behavior that may not be in their best interest.
95. Advertising (business perspective) - Advertising's function is primarily to inform potential
buyers of the problem-solving utility of a firm's market offering, with the objective of
developing consumer preferences for a particular brand.
96. Advertising campaign - The culmination of all the strategic, creative, and operational efforts
of the people working towards a particular set of advertising objectives.
97. Creative strategy - Concerns what an advertiser is going to say to an audience, based on
the advertising objectives. Strategy should outline what impressions the campaign should
convey to the target audience.
98. Creative tactics - Specific means of implementing strategy.
99. Sales promotion - Temporary special offers intended to provide a direct stimulus to produce
a desired response by customers.
100.
Price deals - Short-term reductions in the price of a product to stimulate demand
that has fallen off.
101.
Coupon - Offers, certificates for a specified amount off a product.
102.
Combination offers - Link two products together for a price lower than the products
purchased separately.
103.
Contest - A promotion that involves the award of a prize on the basis of chance or
merit.
104.
Rebates - A refund of a fixed amount of money for a certain amount of time.

105.
Premium offers - A tangible reward received for performing a particular act, usually
purchasing a product.
106.
Consumer sampling - Getting the physical product into the hands of the consumer.
107.
Push money - A monetary bonus paid by a manufacturer to a retail salesperson for
every unit of a product sold.
108.
Dealer loader - A premium that is given to a retailer by a manufacturer for buying a
certain amount of a product.
109.
Trade deals - Strategies intended to encourage middlemen to give a manufacturer's
product special promotional efforts that it would normally not receive.
110.
Public relations - Public relations practice is the art and social science of analyzing
trends, predicting their consequences, counseling organization leaders, and implementing
planned programs of action that serve both the organization's and the public interest.
111.
Internal publics - People connected with an organization with whom the
organization normally communicates in the ordinary routine of work.
112.
External publics - People not necessarily closely connected with an organization.
113.
Campaign - Planned series of promotional efforts designed to reach a
predetermined goal through a single theme or idea.
114.
Communication - A process in which two or more persons attempt to consciously or
unconsciously influence each other through the use of symbols or words in order to satisfy
their respective needs.
115.
Marketing communication - Includes all the identifiable efforts on the part of the
seller that are intended to help persuade buyers to accept the seller's message and store it in
retrievable form.
116.
IMC mix - Various combinations of elements in a promotional plan: advertising, sales
promotion, personal selling, public relations.
117.
Demand curve - Quantity demanded at various price levels.
118.
Non-price competition - Organization uses strategies other than price to attract
customers.
119.
Price war - Pricing significantly lower than competition.
120.
Penetration pricing - Accepting a lower profit margin during the introduction of a
product.
121.
Price skimming - Price set relatively high to generate a high profit margin.
122.
Price lining - Selling a product with several price points.
123.
Quantity discounts - Reduction in base price given as the result of a buyer
purchasing some predetermined quantity of merchandise.
124.
Seasonal discounts - Price discount given on out-of-season merchandise.
125.
Cash discounts - Reduction on base price given to customers for paying cash or
paying within a short period of time.
126.
Trade discount - Price reductions given to middlemen to encourage them to stock
and give preferred treatment to an organization's product.
127.
Spiffs - Prize money given to retailers to pass on to the retailer's sales personnel for
selling certain items.
128.
Price bundling - Grouping similar complementary products and charging a total
price that is lower than if they were sold separately.
129.
Mark-up - Difference between the average cost and price of a product.
130.
Break-even price - Price that will produce enough revenue to cover all costs at a
given level of production.
131.
Value-based pricing - What that product is worth to that customer at that point in
time.

132.
Exchange function - Sales of the product to the various members of the channel of
distribution.
133.
Physical distribution function - Moves the product through the 'Ox change
channel, along with title and ownership.
134.
Marketing channel - Sets of independent organizations involved in the process of
making a product or service available for use or consumption as well as providing a payment
mechanism for the provider.
135.
Routinization - The right products are most always found in places where the
consumer expects to find them, comparisons are possible, prices are marked, and methods
of payment are available.
136.
Retailing - Involves all activities required to market consumer goods 8nd services to
ultimate consumers.
137.
Non-store retailing - Sales made to ultimate consumers outside a traditional retail
store selling.
138.
Wholesaling - Includes all activities required to market goods and services to
businesses, institutions or industrial users.
139.
Conventional channel - A group of independent businesses, each motivated by
profit, and having little concern about any other member of the distribution sequence.
140.
Vertical marketing system - Come about when a member of the distribution
channel assumes a leadership role and attempts to coordinate the efforts of the channel.
141.
Channel role - Defines what the behavior of the channel member should be.
142.
Channel conflict - Personal and direct friction; often suggest a potential
confrontation.
143.
Channel power - A willingness to use force in a relationship.
144.
Brand audit - A brand audit is effectively a health check of the brand to
identify and address problems areas with a net result of helping you turn things
around and grow your bottom line. Brands are like living entities with life cycles.
The purpose behind a brand audit is plain and simple: to gain a fundamental
understanding of where your brand stands in its current state. A brand audit can
help you see how consumers currently perceive your organization.
145.
Brand equity - Brand equity is a phrase used in the marketing industry
which describes the value of having a well-known brand name, based on the idea
that the owner of a well-known brand name can generate more money from
products with that brand name than from products with a less well-known name,
as consumers believe that a product with a well-known name is better than
products with less well-known names.
146.
Breakeven analysis - An analysis to determine the point at which
revenue received equals the costs associated with receiving the revenue. Breakeven analysis calculates what is known as a margin of safety, the amount that
revenues exceed the break-even point. This is the amount that revenues can fall
while still staying above the break-even point. Break-even analysis is a supplyside analysis; that is, it only analyzes the costs of the sales. It does not analyze
how demand may be affected at different price levels.
147.
Brick and Click companies - Bricks and clicks is a jargon term for a
business model by which a company integrates both offline (bricks) and online
(clicks) presences, sometimes with the third extra flips (physical catalogs).
Additionally, many will also offer telephone ordering and mobile phone apps or at
least provide telephone sales support. The advent of mobile web has made

businesses operating bricks and clicks businesses especially popular, because it

means customers can do tasks like shopping when they have spare time and do
not have to be at a computer. Many of these users prefer to use mobile shopping
sites. A company with a physical presence in the real world as well as online.
148.
Pure Click companies - Pure click companies are companies, which have
their business segments only in online markets. The most prominent companies
are Ebay and Amazon. These companies have ONLY an online model and no
offline model. Ebay does not sell products offline and neither does amazon. There
are several kinds of pure click companies - Search engines, Internet Service
Providers (ISPs), commerce sites, transaction sites, content sites etc.
149.
Business database Business database is most comprehensive, up-todate resource for finding business sales leads and mailing lists. Search by
industry, business sizes, sales volume, geography, and other firm graphics to
create a customized list that will help. Communicating, promoting, and selling
activities based on a database management system (DBMS), Database marketing
is a systematic approach to the gathering, consolidation, and processing of
consumer data (both for customers and potential customers) that is maintained
in a company's database.
150.
Convenience goods - A consumer item that is widely-available
purchased frequently and with minimal effort. Because a convenience good can
be found readily, it does not require the consumer to go through an intensive
decision-making process. Examples of convenience goods include newspapers
and candy. Convenience goods are different than specialty goods, such as a car,
which are more expensive and often carry a greater opportunity cost to the
consumer. Convenience Goods The items which are bought frequently,
immediately and with minimum shopping efforts are convenience goods.
151.
Core benefits - The core benefit is what consumers feel they are getting
when they purchase a product. Core products are a company's products or
services which are most directly related to their core competencies. They refer to
the use, benefit or problem-solving service that the consumer is really buying
when purchasing the product.
152.
Core Competency - A core competency is a company's unique
characteristic or capability that provides a competitive advantage in the
marketplace, delivers value to customers, and contributes to continued
organizational growth. Core competencies are the combination of pooled
knowledge and technical capacities that allow a business to be competitive in the
marketplace. Theoretically, a core competency should allow a company to
expand into new end markets as well as provide a significant benefit to
customers. A unique ability that a company acquires from its founders or
develops and that cannot be easily imitated
153.
Corporate Culture - Corporate culture refers to the beliefs and behaviors
that determine how a company's employees and management interact and
handle outside business transactions. Corporate culture refers to the shared
values, attitudes, standards, and beliefs that characterize members of an
organization and define its nature. Corporate culture is rooted in an
organization's goals, strategies, structure, and approaches to labor, customers,

investors, and the greater community. The values and behaviors that contribute
to the unique social and psychological environment of an organization
154.
Focus Group - A focus group is a form of qualitative research in which a
group of people are asked about their perceptions, opinions, beliefs, and
attitudes towards a product, service, concept, advertisement, idea, or packaging.
A group of people assembled to participate in a discussion about a product before
it is launched, or to provide feedback on a political campaign, television series,
etc.
155.
Global firm - A Global Firm (AKA an International Firm) is a company with
multi-national branches and headquarters such as Wal-mart, Coke, Toyota, GE,
Siemens, FedEx, Sony, and Microsoft. Not to be mistaken with Global Market or
Global Economy whereas a locally based company sells their products globally to
other countries such as companies selling thru E-bay and the internet.
156.
Exploratory research - Exploratory research is research conducted for a
problem that has not been clearly defined. It often occurs before we know
enough to make conceptual distinctions or posit an explanatory relationship.
Exploratory research helps determine the best research design, data collection
method and selection of subjects.
157.
Descriptive Research - Descriptive research is used to describe
characteristics of a population or phenomenon being studied. It does not answer
questions about how/when/why the characteristics occurred. Descriptive research
is a study designed to depict the participants in an accurate way. More simply
put, descriptive research is all about describing people who take part in the study.
158.
Causal Research - Research that involves finding the effect of one thing
on another or the effect of one variable on another is called Causal Research. To
conduct this type of research, one must hold one variable (the one that is
suspected to cause the change in the other variables) constant so the other
variables can be measured. Causal research might be used in a business
environment to quantify the effect that a change to its present operations will
have on its future production levels to assist in the business planning process.
159.
Marketing Research - Marketing research is "the process or set of
processes that links the consumers, customers, and end users to the marketer
through information information used to identify and define marketing
opportunities and problems; generate, refine, and evaluate marketing actions;
monitor marketing performance; and improve understanding of marketing as a
process. Marketing research specifies the information required to address these
issues, designs the method for collecting information, manages and implements
the data collection process, analyzes the results, and communicates the findings
and their implications
160.
Consumer Behavior - Consumer Behavior is the study of individuals,
groups, or organizations and the processes they use to select, secure, use, and
dispose of products, services, experiences, or ideas to satisfy needs and the
impacts that these processes have on the consumer and society.
161.
Holistic marketing - A holistic marketing concept is based on the
development, design, and implementation of marketing programs, processes,
and activities that recognize their breadth and interdependencies.

162.
Joint Venture - A joint venture (JV) is a business agreement in which the
parties agree to develop, for a finite time, a new entity and new assets by
contributing equity. They exercise control over the enterprise and consequently
share revenues, expenses and assets. A joint venture is a business deal in which
two or more people combine their expertise and share the risk, profits and
liabilities.
163.
Market Demand - Market demand is the sum of the individual demand
for a product from buyers in the market. If more buyers enter the market and
they have the ability to pay for items on sale, then market demand at each price
level will rise. The total demand for a product or service in the market as a whole,
a market demand schedule for a product indicates that there is an inverse
relationship between price and quantity demanded.
164.
Market Opportunity Analysis - An extension of the business planning
process that focuses on identifying future opportunities and assessing the
organization's financial, technological and competitive readiness to exploit them.
The process includes identifying unmet or underserved customer needs,
identifying target markets, assessing competitive advantages, and assessing the
company's resource capacity in meeting the market's needs.
165.
Market Positioning - An effort to influence consumer perception of a
brand or product relative to the perception of competing brands or products, its
objective is to occupy a clear, unique, and advantageous position in the
consumer's mind. Positioning is a marketing strategy that aims to make a brand
occupy a distinct position, relative to competing brands, in the mind of the
customer.
166.
Market Penetration Pricing - Market penetration pricing is a pricing
strategy that sets a low initial price for a product. The goal is to quickly attract
new customers based on the low cost. The strategy is most effective for
increasing market share and sales volume while discouraging competition. A
strategy adopted for quickly achieving a high volume of sales and deep market
penetration of a new product. Penetration pricing is the practice of offering a low
price for a new product or service during its initial offering in order to attract
customers away from competitors.
167.
Service - Intangible products such as accounting, banking, cleaning,
consultancy, education, insurance, expertise, medical treatment, or
transportation are services. Sometimes services are difficult to identify because
they are closely associated with a good; such as the combination of a diagnosis
with the administration of a medicine. No transfer of possession or ownership
takes place when services are sold, and they (1) cannot be stored or transported,
(2) are instantly perishable, and (3) come into existence at the time they are
bought and consumed.
168.
Social Marketing - Social marketing is an approach used to develop
activities aimed at changing or maintaining people's behavior for the benefit of
individuals and society as a whole. Kotler and Andreasen define social marketing
as "differing from other areas of marketing only with respect to the objectives of
the marketer and his or her organization. Social marketing seeks to influence

social behaviors not to benefit the marketer, but to benefit the target audience
and the general society."
169.
Strategic Business Units - An autonomous division or organizational
unit, small enough to be flexible and large enough to exercise control over most
of the factors affecting its long-term performance, Because strategic business
units are more agile (and usually have independent missions and objectives),
they allow the owning conglomerate to respond quickly to changing economic or
market situations A relatively autonomous division of a large company that
operates as an independent enterprise with responsibility for a particular range
of products or activities, "these strategic business units are responsible for their
own profit or loss but are answerable to the top management"
170.
Total Quality Management - Total Quality Management (TQM) is a
comprehensive and structured approach to organizational management that
seeks to improve the quality of products and services through ongoing
refinements in response to continuous feedback. A core definition of total quality
management (TQM) describes a management approach to longterm success
through customer satisfaction. In a TQM effort, all members of an organization
participate in improving processes, products, services, and the culture in which
they work, a system of management based on the principle that every member
of staff must be committed to maintaining high standards of work in every aspect
of a company's operations.
171.
Value Chain - A value chain is the whole series of activities that create
and build value at every step. Definition: A value chain is the whole series of
activities that create and build value at every step. The total value delivered by
the company is the sum total of the value built up all throughout the company. A
value chain is a set of activities that a firm operating in a specific industry
performs in order to deliver a valuable product or service for the market. A value
chain is the full range of activities that businesses go through to bring a product
or service to their customers
172.
Marketing Management - Marketing management is the organizational
discipline which focuses on the practical application of marketing orientation,
techniques and methods inside enterprises and organizations and on the
management of a firm's marketing resources and activities. Marketing
management is defined as the process of overseeing and planning new product
development, advertising, promotions and sales. An example of marketing
management is creating an advertising plan and implementing that plan.
173.
Co-branding - Co-branding marketing partnership between at least two
different brands of goods or services, Co-branding encompasses several different
types of branding partnerships, such as sponsorships. This strategy typically
associates the brands of at least two companies with a specific good or service.
Co-branding is the practice of using multiple brand names together on a single
product or service. Co-branding occurs when two or more brand names function
together in creating a new product.
174.
Customer Value - Customer value is the satisfaction a consumer feels
after making a purchase for goods or services relative to what she must give up

to receive them. The difference between what a customers gets from a product,
and what he or she has to give in order to get it.
175.
Differentiated Marketing - A differentiated marketing strategy targets
different market segments with specific marketing mixes designed especially to
meet those segments' needs. Each mix includes a product, price, placement and
promotional program customized specifically for a particular segment.
Differentiated marketing is a type of marketing strategy where a firm offers
products or services to a number of market segments and develops separate
marketing strategies for each. Differentiated marketing combines the best
attributes of undifferentiated marketing and concentrated marketing. It appeals
to two or more distinct market segments, with a different marketing plan for
each. Typically differentiated marketing creates more total sales than
undifferentiated marketing, but it also increases the costs of doing business.
176.
Service Marketing - The service marketing mix is also known as an
extended marketing mix and is an integral part of a service blueprint design. The
service marketing mix consists of 7 Ps as compared to the 4 Ps of a product
marketing mix. Simply said, the service marketing mix assumes the service as a
product itself. However it adds 3 more Ps which are required for optimum service
delivery. The product marketing mix consists of the 4 Ps which are Product,
Pricing, Promotions and Placement. These are discussed in my article on product
marketing mix the 4 Ps.
177.
Technical Selling - While the majority of marketing is about the sale of
branded goods to consumers (so-called b2c or business to consumer) in contrast
there are many firms that sell the majority or all of their products or services to
other businesses. This category of marketing is referred to as business to
business marketing (or b2b). There is a third category business-to-government
(b2g) which is actually much the same as B2b but has some specific features that
make it worthy of a separate category.
178.
Trade Selling - A type of account management selling, mostly found in
consumer products industries, where salespeople first get distributors, such
wholesalers and retailers, to handle their products and once this is accomplished
help distributors sell their products by offering promotional and merchandising
support. A trade sale is a common way of exit to a trade buyer. This allows the
management to withdraw from the business and may open up the prospect of
collaboration on larger projects.
179.
Expropriation - The act of taking of privately owned property by a
government to be used for the benefit of the public. In the United States, the
government has the right to take property through eminent domain. The
Fifth Amendment to the Constitution provides that private property will not "be
taken for public use without just compensation." While there is compensation, the
expropriation occurs without the property owner's consent.
180.
Extortion - The term extortion refers to the crime of obtaining money or
property by using threats of harm against the victim, or against his property or
family. Extortion might involve threats of damage to the victims reputation, or to
his financial wellbeing. Anything obtained by the use of extortion, including

consent, has been illegally obtained, and the perpetrator has committed a felony.
To explore this concept, consider the following extortion definition.
181.
Price Escalation - A disparity in pricing where goods have higher costs in
a foreign market than in
the domestic market due to transportation and exporting costs. Price escalation
can also refer to the sum of cost factors in the distribution channels which add up
to a higher final cost for a product in a foreign market.
182.
Franchising - A continuing relationship in which a franchisor provides a
licensed privilege to the franchisee to do business and offers assistance in
organizing, training, merchandising, marketing and managing in return for a
monetary consideration. Franchising is a form of business by which the owner
(franchisor) of a product, service or method obtains distribution through affiliated
dealers (franchisees). In addition to a well-known brand name, buying a franchise
offers many other advantages that aren't available to the entrepreneur starting a
business from scratch. Perhaps the most significant is that you get a proven
system of operation and training in how to use it. New franchisees can avoid a lot
of the mistakes startup entrepreneurs typically make because the franchisor has
already perfected daily operations through trial and error.
183.
Gender Imbalance - Gender imbalance refers to unequal treatment or
perceptions of individuals based on their gender. It arises from differences in
socially constructed gender roles as well as biologically through chromosomes,
brain structure, and hormonal differences. Gender systems are
often dichotomous and hierarchical; gender binary systems may reflect the
inequalities that manifest in numerous dimensions of daily life. Gender imbalance
stems from distinctions, whether empirically grounded or socially constructed.
184.
Global Brands - Global brand is the brand name of a product that

has worldwide recognition. A global brand has the advantage of

economies of scale in terms of production, recognition, and packaging.
Global branding involves extending all three aspects of a brand across
the world. While this is not possible for many products, some products
are more amenable to global branding. Products aimed at luxury and
youth segments seem ideally suited for global brands. In markets such
as telecom, airlines and hotels, where there is heavy consumer
mobility, global branding is more feasible. When the country of origin is
important, global branding is easier. Brands such as Marlboro, whose
identity focuses more on the product and its roots can more easily go
global. When there is an untapped market segment, a global brand
may fill the gap.
185.
Global Marketing Orientation - A company philosophy focused on
discovering and meeting the needs and desires of its customers through its
product mix. Unlike past marketing strategies that concentrated on establishing
selling points for existing products, market orientation works in reverse,
attempting to tailor products to meet the demands of customers. In essence,

market orientation can be thought of as a coordinated marketing

campaign between a company and its customers.
186.
Green Marketing - Marketing products and services based on
environmental factors or awareness. Companies involved in green marketing
make decisions relating to the entire process of the company's products, such as
methods of processing, packaging and distribution. Green marketing companies
seek to go above and beyond traditional marketing by promoting environmental
core values in the hope that consumers will associate these values with their
company or brand. Engaging in these sustainable activities can lead to creating a
new product line that caters to a new target market also known as sustainable
marketing, environmental marketing or ecological marketing.
187.
Grey Advertising - A market where a product is bought and sold outside
of the manufacturers authorized trading channels. The unofficial trading of a
company's shares, usually before they are issued in an initial public offering
(IPO). For example, if a store owner is an unauthorized dealer of a certain highend electronics brand, the product is considered to be sold in the grey market. If
the product is illegal, it would be selling on the "black market".
188.
Immigration -The action of coming to live permanently in a

foreign country. The place at an airport or country's border where

government officials check the documents of people entering that
country.
189.
Quotas - Quotas are numerical limits imposed on imported goods.
Consumers are harmed by quotas, while domestic and foreign producers benefit
by receiving higher prices.
190.
Tariffs - Tariffs are taxes imposed on imported goods; they will increase
the price of the good in the domestic market. Domestic producers benefit
because they receive higher prices. The government benefits by collecting tax
revenues.
191.
Multinational Corporations - A corporation that has its facilities and
other assets in at least one country other than its home country. Such companies
have offices and/or factories in different countries and usually have a centralized
head office where they co-ordinate global management. Very
large multinationals have budgets that exceed those of many small countries.
Nearly all major multinationals are either American, Japanese or Western
European, such as Nike, Coca-Cola, Wal-Mart, AOL, Toshiba, Honda and BMW.
Advocates of multinationals say they create jobs and wealth and improve
technology in countries that are in need of such development. On the other hand,
critics say multinationals can have undue political influence over governments,
can exploit developing nations as well as create job losses in their own home
countries.
192.
Mass media - Mass media is a term used to denote, as a class, that
section of the media specifically conceived and designed to reach a very large
audience such as the population of a nation state. It was coined in the 1920s with
the advent of nationwide radio networks, mass-circulation newspapers and
magazines, although mass media was present centuries before the term became
common.

193.
Perception - Perception the ability to see, hear, or become aware of
something through the senses. The normal limits to human perception the way in
which something is regarded, understood, or interpreted. Hollywood's perception
of the tastes of the American public.
194.
Promotion - Promotion refers to raising customer awareness of a product
or brand, generating sales, and creating brand loyalty. It is one of the four basic
elements of the market mix, which includes the four P's: price,
product, promotion, and place.
195.
Related marketing - This is a form of marketing in which a company and
a charity team up together to tackle a social or environmental problem and
create business value for the company at the same time.
196.
Repositioning - Changing a brand's status in comparison to that of
the competing brands. Repositioning is effected usually through changing
the marketing mix in response to changes in the market place, or due to
a failure to reach the brand's marketing objectives.
197.
Spot advertising - Television advertising occupying a short break during
or between programmers.
198.
Teaser campaign - Teaser campaign known as a pre-launch campaign, is
an advertising campaign which typically consists of a series of small, cryptic,
challenging advertisements that anticipate a larger, full-blown campaign for a
product launch or otherwise important event.
199.
Telemarketing - The marketing which of goods or services by means of
telephone calls, typically unsolicited, to potential customers
200.
Trade Advertisement - A trade advertisement is
an advertising undertaken by the manufacturer and directed toward the
wholesaler or retailer.