DmvMarketing2.txt

These are nonprofit organizations sponsored by local businesses. They currently number 150 and offer a variety of consumer education programs and materials, handle consumer inquiries,mediate and arbitrate complaints,andmaintain records of consumer satisfaction and dissatisfaction with individual companies.

A form of automated bid management that allows you to increase your bids when ads are served to someone whose age orgendermatches your target market. This level of demographic focus and the "bid boosting" tool are current Microsoft adCenter offerings. Source: SEMPO

Software that manages PPC campaigns automatically, called either rules-based (with triggering rules or conditions set by the advertiser) or intelligent software (enacting real-time adjustments based on tracked conversions and competitoractions). Both types ofautomatic bid management programs monitor andchange bid prices, pause campaigns, manage budget maximums,adjust multiple keywordbids based on CTR, positionranking andmore. Source: SEMPO

An unconditional order in writing addressed by one person (the drawer) to another(the drawee),signed by the person giving it, requiring the person to whomitis addressed to pay ondemand,orat a fixed or determinable future time, a sum certain in moneyto,ortothe orderof,a specified person or to bearer.

1. (global marketing definition) A vital documentin international trade that is required to establish legal ownership and facilitate financial transactions. The bill of lading serves the following purposes: (1) as a contract for shipment between the carrierand the shipper; (2) as a receiptfrom the carrier for shipment; and (3) as a certificate of ownership or title to the goods. 2.(physical distribution definition) The basic documentinthe purchase of transportation services. It describes commodities and quantities shipped as well as the terms and conditions of carrier liability. Current law allows the bill of lading to be electronically generated and transmitted.

An assessment of the combination ofassemblies, subassemblies, parts, and materials needed to support planned production as detailed in the materials requirement plan.

An individual who, for a fee, provides sales leads to a salesperson. The individual also is called a spotter.

The availability of merchandise at higher than ordinary prices when difficult or impossible to purchase it under normal market circumstances. This commonly involves illegal transactions.

A general order placed with a manufacturer without specifying detailed instructions, such as sizes, styles, and shipping dates, all of which are to be furnished later, often in several orders for specific shipments.

The printads orbrochures 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.

A method used by salespeople to respond to customer objections by turning the objection into a reason for acting immediately.

The movement ofconsumers to higher and higher income tax brackets during periods ofinflation regardless of the lackof any real increase in income. This phenomenonis less serious since the 1986 tax reform, which greatly reduced the number of tax brackets.

A brand is a customer experience represented by a collection of images and ideas; often, it refers to a symbol such as a name,logo,slogan,and design scheme.Brand recognition and other reactions are created by the accumulation of experiences with the specific product or service, bothdirectly relating to its use, and through the influence of advertising, design,andmediacommentary." (Added definition) "A brand often includes an explicit logo, fonts,colorschemes,symbols,sound which may be developed to represent implicit values, ideas, and even personality." Source: SEMPO and Wikipedia

Brandawareness is a marketing concept that enables marketers to quantify levels and trends in consumer knowledge and awareness of a brand's existence. At the aggregate (brand) level,it refers to the proportion of consumers who know of the brand. Source: The MASB CommonLanguage Project. http://www.themasb.org/common-language-project/ http://en.wikipedia.org/wiki/Brand_awareness

These stochastic models of individual brand choice focus on the brand that will be purchased on a particular purchase occasion,given that a purchase eventwill occur. This type of model includes Bernoulli processes and Markov models. Models in this category vary in their treatment of population heterogeneity, purchase event feedback, and exogenous marketfactors (Lilien and Kotler 1983).

A measure of the extent to which the sales of products ina market category have captured the total potentialina geographicalarea,based on the population of that area and the average consumption per user nationally.The brand development index is usually calculated for separate metropolitan areas, and is used to determine high-potential(underdeveloped) areas for new product entries or for primary demand promotions.

Brandequity is a phrase used in the marketing industry to try to describe the value of having a well-known brand name, based on the idea that the ownerofa well-known brand name can generatemore moneyfrom 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. 2. 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.

A product line extension marketed underthe same general brand as a previous itemoritems. To distinguish the brand extension from the otheritem(s) underthe primarybrand, one can either add a secondary brand identification or add a generic.Thus an EpsonFX-85printeris an extension of Epson that used the secondary brand of FX-85, while Jello Instant Pudding is an extensionofthe Jello brand that uses a generic term. A brand extensionis usually aimed at anothersegmentofthe general market for the overall brand.

This is the second half of a product's identifying title. Brand is the firsthalf, and identifies one seller's version, while the generic is the second half and identifies the general class of item. [Example: Jello (brand) gelatindessert (generic)]. This is not to be confused with generic brand (such as on some low-price items in supermarkets), for which there is no individual brand.

The perception of a brand in the minds of persons. The brand image is a mirror reflection(though perhaps inaccurate)of the brand personality or product being. Itis what people believe about a brand-their thoughts, feelings, expectations.

A purchasing pattern characterized by a low degree of brand loyalty.

A measurable increase in consumer recall for a specific, branded company, product or service. For example,brand lift might show an increase in respondents who think of Dell for computers, or WalMart for "every household thing." Source: SEMPO

Brand mapping is a research technique to identify and visualize the core positioning of a brand compared to competing brands on various dimensions.

The brand mark is that part of a brand name that cannotbe spoken.Itmostcommonlyis a symbol, picture, design,distinctive lettering,color,ora combination of these.

Creative messaging that presents and maintains a consistent corporate image across all media channels, including search. Source: SEMPO

This is the psychological nature of a particular brand as intended byits sellers, though persons in the marketplace may see the brand otherwise (called brand image). These two perspectives compare to the personalities of individual humans: what we intend ordesire,and what others see or believe

A brand tribe is a formal or informal group of consumers whomshare the same awareness, passion and loyalty for a brand or a portfolio of brands.Brand tribe scan be identified as strong drivers of brand strengthsformany international brands like LEGO, Bang & Olufsen, Nike, Giorgio Armani, Banyan Tree Hotels and Resorts, Singapore Airlines, Timberland and many other unique brands. The consumer decision process involves brand attributes and brand associations, which are largely image driven,intangible and symbolic. The group as a social institution serves as an important part of these consumer decisions as the importance and strengths of intangible brand attributesandbrand values are relatedto how these factors are perceived andranked ina group or clusters of groups of which the consumer is part of

A decision support system for determining the marketing mix for a particular brand. The model has submodels dealing with advertising spending level, price, and salesperson effort (i.e., dollars per customer per year). Its parameters can be calibrated by combining historical data (e.g.,on sales, market share, advertising spending, etc.) with structured subjective judgments (Little 1975).

The attemptto develop a strong brand reputation on the web to increase brand recognition and create a significant volume of impressions. Source: SEMPO

Using separate brands for each product,without a family brand to tie them to other brands of that firm. Individual brands are used when the products are different physically, are of different quality levels, are targeted for different users or uses, or vary in some otherwaythat might cause confusionor loss of sales if brought together undera family brand umbrella

Using a family brand to cover only some of a firm's products. It contrasts with those cases where the term family brand is used only to designate the firm's entire product line.

A two-way table that indicates which brands a sample of people purchased in one period and which brands they purchased in a subsequent period,thus highlighting the switches occurring amongandbetween brands as well as the number of persons who purchased the same brand in both periods.

A method of examining the relationships between fixed costs, variable costs, volume, and price. The objective of the analysis is to determine the break-even point at alternative prices and a given cost structure.

Merchandise in the consumer electronic audiovisual field, such as televisions, radios, stereo sets, etc. The name came from the brown (furniture color) cases in which such merchandise is frequently manufactured. At one time the term also included all furniture.

Offering several complementary products together or offering additional services in a single "package deal." The price of the bundle is typically lower than the sum of the prices of the individual products or services included init. Groups of services or products may be bundled in different combinations appealing differently to different segments in order to price discriminate amongthese segments and to avoid cherry picking

This term is associated with government, where official decision making is circumscribed by laws, rules, and regulations which often result in inflexibility, "red tape", and slowness to act. The term is sometimes applied to the hierarchical business structure, which is thought to lead to slow decision making and slow response to change. It should be noted,however,that business-unlike government operates ina competitive environment that does not reward slow decisionmaking if it results in poor sales or customer service. Comment: To combatany tendencytowards bureaucracy,particularly in large corporations, companies have speeded up decision making by measures such as decentralized and flatter organization structures along with computerized information and communicationsystems that alert management quickly to problems requiring resolution.

This a term of many meanings, and in marketing it is usually associated in some way with the evaluation of new product proposals. In format, it may consist of a five-year, discounted cash flow, net present value-type of financial analysis, or it may be a more comprehensive analysis of the entire situation surrounding the proposed product.Chronologically, it may come early in the developmentprocess (when it is used to decide whether expensive research and development should be undertaken),and/or late in the product developmentcycle when the commercialization decision is being made.

Economic conditions that favor the position of the retail buyer (or merchandiser) rather than the vendor.In otherwords,economic conditionsare 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.

The communication network between all individuals involved in a buying decision and the actions that take place during the course of making the purchase decision.

A conceptual model that describes the organizational buying process.It consists of two dimensions: buy classes and buy phases. The buy classes are new task purchase, modified rebuy, and straight rebuy. The buy phases are need recognition,needdefinition, need description,selleridentification,proposal solicitation, proposal evaluation and selection, ordering procedures, and performance review.

A form of trade sales promotion in whichthe retailer is offered a discount on the purchase of the product at a particular point in time. The discount is often tied to the purchase of a particular number of units.

The process of improving the quality of data by modifying its form orcontent, for example,by removing or correcting data values that are incorrect.

1. (sales promotion definition) A type of trade sales promotion in which the retailer is allowed to buy a certain amount ofproduct from the manufacturer and then payforthat product overa prolonged period of time. 2. (retailing definition) The dates in which discounts can be taken or the full invoice amount is due.

A method of testing the performance ofan ad ora commercial whereby members of the audience are surveyed one day after their exposure to an ad or commercial in an advertising vehicle to discover how many of the audience members remember encountering that specific ad or commercial in the advertising vehicle

A product that a seller may offer at a reduced price or that may have been specially bundled, processed, or manufactured for a limited period of time.

A description of the behavior of that group of consumers who make product purchase decisions on the basis of whether or not a particular product is being sold under some sort of deal condition

A premium or other reward that is used to encourage a retailer to develop a special display or product offering. Commonly,the itemis a reusable product that forms the basis forthe display.When the eventis over, the retailer is allowed to keep the premium.

Savings claims, price comparisons, "special" sales, "two-for-one"sales, "factory" prices, or "wholesale" prices are unlawful if false or deceptive. When these terms are used, the terms and conditions of the sale must be made clear at the outset. False preticketing--the practice of marking merchandise witha price higher than that for which it is intended--is unlawful.

The quantitative models of a process that are calibrated by examining subjective judgments about outcomes ofthe process (e.g.,marketshare or sales of a firm) under a variety of hypothetical scenarios (e.g., advertising spending level, promotion expenditures). Once the modellinkingprocess outcomes to marketing decision variables has been calibrated, it is possible to derive an optimal marketing recommendation (Little 1970; Chakravarthi, Mitchell, and Staelin 1981; Little and Lodish 1981). Examples for advertising decisions includeADBUDG,ADMOD, andMEDIAL.Examplesfor overall brand/productdecisions are BRANDAID and STRATPORT. Examples for salesforce decisions include CALLPLANandDETAILER

1. (consumer behavior definition) The process of selecting from several choices, products, brands, or ideas. The decision process mayinvolve complex cognitive or mental activity, a simple learned response, or an uninvolved anduninformed choicethat mayeven appear to be stochastic or probabilistic, i.e., occurring by chance. 2. (consumer behavior definition) The process by which consumers collect information about choice alternatives and evaluate those alternatives in order to make choices among them.

These correspond to the major marketing functions that influence revenue and profit. They are summarized in the well-known fourP's:product,price, promotion,andplace (distribution). Other marketing decision variables may include service policies, credit, and so forth.

The fourth stage of a product life cycle. Sales of the product fall off from their levels during the maturity (third) stage. This may lead to abandonment or efforts at rejuvenation of the product.

A model representing customers' brand choice decisions as a functionofbrand attributes. Key features include the incorporation ofheterogeneous customer preferences and the representation of attribute levels in a "perdollar"multiattribute space. Based on the model, several qualitative, normative implications hold regarding the optimal competitive response by"defending"brands against a newmarket entrant (HauserandGaskin1984;Hauser andShugan 1983).

A billing method that enables customers to buy merchandise and not pay for it for several months,with no interest charge.

An economic condition characterized by a continuous downward movement of the general price level.

A graph of the quantity of a product taken by buyers in the market at various prices, given that all other factors are held constant.

A measure of the extent to which potential demand for the retailer's goods and services is concentrated in certain census tracts, ZIP codes, or other geographic parts of the community.

The elements that determine the consumers' willingness and ability to pay for products.

The demand includes the goods and services that are required by all individuals and organizations that are engaged in the production of othergoods and services.

A method of pricing inwhichthe seller attempts to set price at the level that the intended buyers are willing to pay. It is also called value-in-use pricing or value-oriented pricing.

The act of setting a price by starting with the estimated price consumers will pay and working backwards with retail and wholesale margins.

Innovation that is caused orat least stimulated by the needs, wants, or desires of customers. This contrasts with supply pushed innovation. Other terms for these two ideas are market- or customer driven innovation and technology-driven innovation.

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.

The study of total size, sex, territorial distribution, age, composition,and other characteristics of human populations;the analysis of changes in the make-up of a population.

The process of classifying merchandise into somewhat homogeneous groups known as departments.

The demand for one product that is derived from the purchase of another. The demand for industrial products is created by the purchase of consumer products that use or incorporate industrial products in them or in their manufacture.

A research design in which the major emphasisis on determining the frequency with which something occurs or the extent to which two variables co-vary

A country with semi developed markets whose 1987GNPpercapita ranged from $1,001 to $2,500. The characteristics of this category of country are: (1) more than 33 percent of the population is engaged in agriculture and less than 30 percent of the population is urban;(2) at least 50 percent of the population is literate; and (3) there are often highly developed industrial sectors and consumer markets are also of significant size on a per capita basis.

1. (product developmentdefinition) A property of any product that is able to claim a unique-ness over otherproducts in its category.To be a differential advantage, the uniqueness must be communicable to customers and have value for them.The differential advantage of a firm is often called its distinctive competences. 2. (economic definition) An ad-vantage unique to an organization; an advantage extremely difficult to match by a competitor.

An oligopoly that produces and markets products that consumers consider close, but less than perfect, substitutes. e.g., automobiles

A modelrepresenting the contagionorspreadofsomething through a population. Diffusion models in marketing often are applied to the adoption of a new product,or the exposure of potential customers tosome in-formation about a product (e.g., an advertising message). Numerous specific mathematical formulations have been applied to diffusion processes, and these are reviewed by Lilien and Kotler (1983 Chapter19)andMahajan and Wind (1986). The most widely cited of these models was introduced to marketing by Bass (1969). It incorporates explicitly an innovation effect and an imitation effect.When botheffects are present, the time path of adoption follows an S- shaped curve.

The process by which the use of an innovation is spread within a market group, over time and over various categories of adopters.

The process by which new ideas and products become accepted by a society

A mass or quantity promotion,not inan advertising medium,but issued from the advertiser by mail or personal distribution to individual customers or prospects.Also,itis the advertising literature appearing in folders,leaflets, throw-aways, letters, and delivered to prospective customers by mail, salespeople, dealers, or tucked into mailboxes

A channel whereby goods and services are solddirectlyfrom producer to final user without involvement of other independent middlemen.

Costs incurred by and solely for a particular product, department, program, sales territory, or customer account. These may be fixed costs or variable costs. They also are called traceable costs or attributable costs.

A method for answering prospect objects by making strong statements indicating that the prospecthas made an error.

Direct digital marketing is defined as a digital marketing method that provides relevant marketing communications that are address able to a specific individual with an email address, a mobile phone number or a Web browser cookie. Traditional direct marketing uses an individual’s postal address. With the evolutionof direct marketing todirect digital marketing, address ability comes in the form ofthe three primary digital channels.

1. (physical distribution definition) A system whereby goods are delivered to the buyer's store instead of going through a warehouse or distribution center. This can result in less handling and faster de-liveries, but does not necessarilyresult in lower costs. 2. (retailing definition) Delivery by a vendordirectlytoa retail store of a customer, as opposed to delivery to a distribution center operated by the customer.

In consumer satisfaction theory, disconfirmation refers to a situation in which a product performs differently than expected priorto purchase. Positive disconfirmation occurs when the product performs better than expected; negative disconfirmation occurs when the product performs worse than expected

An inventory management technique to help determine order quantities. The procurement objective is to obtain a quantity of components that equals the net requirement needed at a specific time. Purchase quantities will vary from order to order because of fluctuations in component requirements.

1. (physical distribution definition) The managerial accounting practice of allocating costs to specific products. It is a method of evaluating distribution alter-natives such as direct store delivery. It is also used to allocate shelf space in retail stores based on profitability. 2. (retailing definition) The profit on sale of a product after de-ducting the cost of the goods andonlythe expenses directly related to that particular product or product line.

A probability mixture model commonly used to represent patterns of brand choice behavior. Over repeated occasions on which purchases are made from the product category,the set of brands chosen are assumed to follow the multinomial distribution for any given individual. The modelalso assumesthat individuals differ from each other in their set of brand choice probabilities. These probabilities are taken to have a Dirichlet distribution across individuals. The Dirichlet is a parsimonious distribution for the setof brand choice probabilities: for n brands there are n Dirichlet distribution parameters;n - 1 of which indicate the average share of choices for each brand,andthe nth indicating the amount of heterogeneity in preference across individuals. The model thus can be used to predict brand choicepatterns exhibited over time by a set of individuals (Jeuland, Bass, and Wright 1980; Goodhardt, Ehrenberg, and Chatfield 1984).

In consumer satisfaction theory, disconfirmation refers to a situation in which a product performs differently than expected prior to purchase. Positive disconfirmation occurs when the product performs better than expected; negative disconfirmation occurs when the product performs worse than expected.

A statistical technique employed to model the relationship between a dichotomous or multichotomous criterion variable anda set of continuous predictor variables

A wholesale middleman, especially in lines where selection or exclusive distribution is common at the wholesale level and the manufacturer expects strong promotional support. It is often a synonym for wholesaler

A brand that is owned and controlled by a reseller (distributor) such as a retailer or a wholesaler, as opposed to a brand ownedbythe manufacturer.The termapplies onlyto the brand itself,not tothe product or to its content. Itis often called a private brand or private label, and (with exceptions such as Sears' brands) is usually not advertised heavily.

A target audience asked to give money, goods,bodyorgans, or blood to an organization or individual without expecting a tangible benefit in return. Comment: Donormarketing can be carried out byfor-profit organizations. For-profit organizations can also be the recipients of the donations (althoughthis is rare).

Double jeopardy is an empirical law in marketing where, with few exceptions, the lower market share brands in a market have both far fewer buyers in a time period and also lower brand loyalty.

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." In other words, first community, then commerce. Double Loop Marketing is an idea of online-marketing consultant, Christian Sarkar. It is related to relationship marketing and Seth Godin's idea of permission marketing.

1. (physical distribution definition) Limited-function wholesalers known as drop shippers seldom take physical possession of the goods. They often specialize in heavy or bulky commodities that require the economies of volume shipment. The drop shipper buys the car-load, but does not take physical possession. The order, or drop shipment, is shipped direct from the supplier to the customer. 2. (retailing definition) A special type of wholesaler who deals in large lots shipped direct from the factory to the customer of the drop shipper, takes title to the goods, assumes responsibility for the shipment after it leaves the factory, extends credit, collects the account, and incurs all the sales costs necessary to secure orders.

1. (channels of distribution definition) This describes a wide variety of marketing arrangements by which a manufacturer or a wholesaler reaches its final markets by employing two or more different types of channels for the same basic product. 2. (retailing definition) Under this type of distribution program, manufacturers sell directly to contractors and other large accounts at prices equal to or less than those available to retailers in the same market who are reselling the manufacturers' products.

A market situation in which there are only two marketers of an economic good, while demand conditions re-main competitive.

A relationship between two interacting and mutually influencing organizational entities. Most buyer-seller relationships in organizational markets are dyadic, while in the consumer marketplace individual buyers rarely have the power to influence sellers.

The second identifiable subgroup within a population that be-gins use of an innovation. They follow innovators and precede the early majority. Their role is to be opinion leaders and have influence over the early majority.

The third identifiable subgroup within a population that adopts an innovation. They are pre-ceded by early adopters and innovators. The early majority like to await the out-come of product trial by the two earlier groups, yet are not as slow to adopt as the next two groups, late majority and laggards.

A term referring to a wide variety of Internet-based business models. Typically, an e-commerce strategy incorporates various elements of the marketing mix to drive users to a Web site for the purpose of purchasing a product or service

A term reflecting the maximum amount that can be spent by a retail store for yearly rent expenses. It is calculated by subtracting from planned sales all projected nonrent costs including a projected or planned profit figure

A philosophy, perspective, or belief that economic forces ultimately are determinants of social and political change.

The economic environment encompasses such factors as productivity, income, wealth, inflation, balance of payments, pricing, poverty, interest rates, credit, transportation, and employment; it is the totality of the economic surroundings that affect a company's markets and its opportunities.