Page 556 - Foundations of Marketing

Glossary G-11

production factors, and has a common and resources to address key environment, including all biological
external tariff and commercial policy stakeholders’ interests and achieve entities, as well as the interaction
among member nations in South both organizational and social benefits among nature and individuals,
America strategic planning The process of organizations, and business strategies
special-event pricing Advertised sales establishing an organizational mission sustainable competitive advantage An
or price cutting linked to a holiday, a and formulating goals, corporate advantage that the competition cannot
season, or an event strategy, marketing objectives, and copy
specialty products Items with unique marketing strategy SWOT analysis Assessment of an
characteristics that buyers are willing strategic windows Temporary periods organization’s strengths, weaknesses,
to expend considerable effort to obtain of optimal fit between the key opportunities, and threats
specialty-line wholesalers Full-service requirements of a market and the tactile communication Communicating
wholesalers that carry only a single particular capabilities of a company through touching
product line or a few items within a competing in that market target audience The group of people at
product line stratified sampling A type of probability whom advertisements are aimed
stakeholders Constituents who have a sampling in which the population is target market A specific group of
“stake,” or claim, in some aspect of divided into groups with a common customers on whom an organization
a company’s products, operations, attribute and a random sample is focuses its marketing efforts
markets, industry, and outcomes chosen within each group target public A collective of individuals
statistical interpretation Analysis of what styling The physical appearance of a who have an interest in or concern
is typical and what deviates from the product about an organization, product, or
average subculture A group of individuals whose social cause
storyboard A blueprint that combines characteristics, values, and behavioral team selling The use of a team of experts
copy and visual material to show patterns are similar within the group from all functional areas of a firm,
the sequence of major scenes in a and different from those of people in led by a salesperson, to conduct the
commercial the surrounding culture personal selling process
straight commission compensation supermarkets Large, self-service stores technical salespeople Support
plan Paying salespeople according that carry a complete line of food salespeople who give technical
to the amount of their sales in a given products, along with some nonfood assistance to a firm’s current customers
time period products technology The application of knowledge
straight rebuy purchase A routine superregional shopping center A type of and tools to solve problems and
purchase of the same products under shopping center with the widest and perform tasks more efficiently
approximately the same terms of sale deepest product mixes that attracts telemarketing The performance of
by a business buyer customers from many miles away marketing-related activities by
straight salary compensation plan Paying superstores Giant retail outlets that carry telephone
salespeople a specific amount per time food and nonfood products found in telephone depth interview An interview
period, regardless of selling effort supermarkets, as well as most routinely that combines the traditional focus
strategic alliance A partnership that purchased consumer products group’s ability to probe with the
is formed to create a competitive supply chain All the activities associated confidentiality provided by telephone
advantage on a worldwide basis with the flow and transformation of surveys
strategic business unit (SBU) A division, products from raw materials through to telephone survey A research method
product line, or other profit center the end customer in which respondents’ answers to
within the parent company supply-chain management A set of a questionnaire are recorded by an
strategic channel alliance An agreement approaches used to integrate the interviewer on the phone
whereby the products of one functions of operations management, television home shopping A form of
organization are distributed through the logistics management, supply selling in which products are presented
marketing channels of another management, and marketing channel to television viewers, who can buy
strategic marketing management The management so products are produced them by calling a toll-free number and
process of planning, implementing, and distributed in the right quantities, paying with a credit card
and evaluating the performance of to the right locations, and at the right test marketing A limited introduction of a
marketing activities and strategies, time product in geographic areas chosen to
both effectively and efficiently supply management In its broadest form, represent the intended market
strategic performance refers to the processes that enable the time series analysis A forecasting
evaluation Establishing performance progress of value from raw material method that uses historical sales data
standards, measuring actual to final customer and back to redesign to discover patterns in the firm’s sales
performance, comparing actual and final disposition over time and generally involves trend,
performance with established support personnel Sales staff members cycle, seasonal, and random factor
standards, and modifying the who facilitate selling but usually are analyses
marketing strategy, if needed not involved solely with making sales total budget competitors Firms that
strategic philanthropy The synergistic use sustainability The potential for the compete for the limited financial
of organizational core competencies long-term well-being of the natural resources of the same customers

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