Page 549 - Foundations of Marketing

G-4 Glossary

depth of product mix The average number distribution centers Large, centralized exclusive dealing A situation in which a
of different products offered in each warehouses that focus on moving manufacturer forbids an intermediary
product line rather than storing goods from carrying products of competing
derived demand Demand for business drop shippers Limited-service manufacturers
products that stems from demand for wholesalers that take title to goods and exclusive distribution Using a single
consumer products negotiate sales but never actually take outlet in a fairly large geographic area
descriptive research Research conducted possession of products to distribute a product
to clarify the characteristics of certain dual distribution The use of two or more executive judgment A sales forecasting
phenomena to solve a particular marketing channels to distribute the method based on the intuition of one or
problem same products to the same target market more executives
differential pricing Charging different dumping Selling products at unfairly low experience qualities Attributes that can
prices to different buyers for the same prices be assessed only during purchase and
quality and quantity of product early adopters People who adopt new consumption of a service
differentiated targeting strategy A products early, choose new products experimental research Research that
strategy in which an organization carefully, and are viewed as “the allows marketers to make causal
targets two or more segments by people to check with” by later adopters inferences about relationships
developing a marketing mix for each early majority Individuals who adopt a expert forecasting survey Sales forecasts
segment new product just prior to the average prepared by experts outside the firm,
digital marketing Uses all digital media, person such as economists, management
including the Internet and mobile electronic data interchange (EDI) A consultants, advertising executives, or
and interactive channels, to develop computerized means of integrating college professors
communication and exchanges with order processing with production, exploratory research Research conducted
customers inventory, accounting, and to gather more information about
digital media Electronic media that transportation a problem or to make a tentative
function using digital codes; when we electronic marketing (e-marketing) The hypothesis more specific
refer to digital media, we are referring strategic process of distributing, exporting The sale of products to foreign
to media available via computers, promoting, and pricing products, and markets
cellular phones, smartphones, and discovering the desires of customers extended decision making A consumer
other digital devices that have been using digital media and digital decision-making process employed
released in recent years marketing when purchasing unfamiliar, expensive,
direct marketing The use of the telephone, embargo A government’s suspension of or infrequently bought products
Internet, and nonpersonal media to trade in a particular product or with a external reference price A comparison
introduce products to customers, who given country price provided by others
can then purchase them via mail, environmental analysis The process external search An information search in
telephone, or the Internet of assessing and interpreting the which buyers seek information from
direct ownership A situation in which a information gathered through sources other than their memories
company owns subsidiaries or other environmental scanning family branding Branding all of a firm’s
facilities overseas environmental scanning The process of products with the same name or part of
direct-response marketing A type of collecting information about forces in the name
marketing in which a retailer advertises the marketing environment family packaging Using similar packaging
a product and makes it available ethical issue An identifiable problem, for all of a firm’s products or packaging
through mail or telephone orders situation, or opportunity requiring a that has one common design element
direct selling Marketing products to choice among several actions that must feature article A manuscript of up to
ultimate consumers through face-to- be evaluated as right or wrong, ethical 3,000 words prepared for a specific
face sales presentations at home or in or unethical publication
the workplace European Union (EU) An alliance that Federal Trade Commission (FTC) An
discount stores Self-service, promotes trade among its member agency that regulates a variety of
general-merchandise stores that countries in Europe business practices and curbs false
offer brand-name and private-brand evaluative criteria Objective and advertising, misleading pricing, and
products at low prices subjective product characteristics that deceptive packaging and labeling
discretionary income Disposable income are important to a buyer feedback The receiver’s response to a
available for spending and saving everyday low prices (EDLP) Pricing decoded message
after an individual has purchased the products low on a consistent basis first-mover advantage The ability of an
basic necessities of food, clothing, and exchange controls Government innovative company to achieve long-
shelter restrictions on the amount of a term competitive advantages by being
disposable income After-tax income particular currency that can be the first to offer a certain product in the
distribution The decisions and activities bought or sold marketplace
that make products available to exchanges The provision or transfer of fixed costs Costs that do not vary with
customers when and where they want goods, services, or ideas in return for changes in the number of units
to purchase them something of value produced or sold

Copyright 2014 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s).
Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it.