Page 550 - Foundations of Marketing

Glossary G-5

F.O.B. destination A price indicating the globalization The development of investments, pensions, and subsidy
producer is absorbing shipping costs marketing strategies that treat the payments for a given period
F.O.B. factory The price of merchandise at entire world (or its major regions) as a individual branding A branding strategy
the factory before shipment single entity in which each product is given a
focus-group interview An interview that good A tangible physical entity different name
is often conducted informally, without government markets Federal, state, industrial distributor An independent
a structured questionnaire, in small county, or local governments that business organization that takes title
groups of 8 to 12 people, to observe buy goods and services to support to industrial products and carries
interaction when members are exposed their internal operations and provide inventories
to an idea or a concept products to their constituencies inelastic demand Demand that is not
franchising An arrangement in which a green marketing A strategic process significantly altered by a price increase
supplier (franchiser) grants a dealer involving stakeholder assessment or decrease
(franchisee) the right to sell products in to create meaningful long-term information inputs Sensations received
exchange for some type of consideration relationships with customers while through sight, taste, hearing, smell, and
free merchandise A manufacturer’s maintaining, supporting, and touch
reward given to resellers that purchase enhancing the natural environment in-home (door-to-door) interview A
a stated quantity of products gross domestic product (GDP) The market personal interview that takes place in
free samples Samples of a product given value of a nation’s total output of goods the respondent’s home
out to encourage trial and purchase and services for a given period; an innovators First adopters of new products
freight absorption pricing Absorption of overall measure of economic standing inseparability The quality of being
all or part of actual freight costs by the growth stage The product life-cycle stage produced and consumed at the same
seller when sales rise rapidly, profits reach a time
freight forwarders Organizations that peak, and then they start to decline installations Facilities and nonportable
consolidate shipments from several heterogeneity Variation in quality major equipment
firms into efficient lot sizes heterogeneous market A market made institutional advertising Advertising that
full-service wholesalers Merchant up of individuals or organizations with promotes organizational images, ideas,
wholesalers that perform the widest diverse needs for products in a specific and political issues
range of wholesaling functions product class institutional markets Organizations with
functional modifications Changes homesourcing A practice whereby charitable, educational, community, or
affecting a product’s versatility, customer contact jobs are outsourced other nonbusiness goals
effectiveness, convenience, or safety into workers’ homes intangibility The characteristic that a
General Agreement on Tariffs and Trade homogeneous market A market in which service is not physical and cannot be
(GATT) An agreement among nations a large proportion of customers have perceived by the senses
to reduce worldwide tariffs and similar needs for a product integrated marketing
increase international trade horizontal channel integration Combining communications Coordination of
general-merchandise retailer A retail organizations at the same level of promotion and other marketing efforts
establishment that offers a variety operation under one management for maximum informational and
of product lines that are stocked in hypermarkets Stores that combine persuasive impact
considerable depth supermarket and discount store intensive distribution Using all available
general-merchandise wholesalers shopping in one location outlets to distribute a product
Full-service wholesalers with a wide hypothesis An informed guess or intermodal transportation Two or
product mix but limited depth within assumption about a certain problem or more transportation modes used in
product lines set of circumstances combination
general publics Indirect consumers of a idea A concept, philosophy, image, or internal reference price A price
product of a nonprofit organization issue developed in the buyer’s mind through
generic brand A brand indicating only the idea generation Seeking product ideas to experience with the product
product category achieve organizational objectives internal search An information search in
generic competitors Firms that provide illustrations Photos, drawings, graphs, which buyers search their memories
very different products that solve the charts, and tables used to spark for information about products that
same problem or satisfy the same basic audience interest in an advertisement might solve their problem
customer need import tariff A duty levied by a nation on international marketing Developing and
geodemographic segmentation A method goods bought outside its borders and performing marketing activities across
of market segmentation that clusters brought into the country national boundaries
people in zip code areas and smaller importing The purchase of products from introduction stage The initial stage of a
neighborhood units based on lifestyle a foreign source product’s life cycle; its first appearance
and demographic information impulse buying An unplanned buying in the marketplace, when sales start at
geographic pricing Reductions for behavior resulting from a powerful zero and profits are negative
transportation and other costs related urge to buy something immediately inventory management Developing and
to the physical distance between buyer income For an individual, the amount of maintaining adequate assortments of
and seller money received through wages, rents, products to meet customers’ needs

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