Page 557 - Foundations of Marketing

G-12 Glossary

total cost The sum of average fixed designs a single marketing mix and warehouse clubs Large-scale,
and average variable costs times the directs it at the entire market for a members-only establishments
quantity produced particular product that combine features of cash-and-
trade (functional) discount A reduction uniform geographic pricing Charging all carry wholesaling with discount
off the list price a producer gives to an customers the same price, regardless of retailing
intermediary for performing certain geographic location warehouse showrooms Retail facilities
functions universal product code (UPC) A series in large, low-cost buildings with large
trade name The full legal name of an of electronically readable lines on-premises inventories and minimal
organization identifying a product and containing services
trade sales promotion methods Methods inventory and pricing information warehousing The design and operation
intended to persuade wholesalers and unsought products Products purchased of facilities for storing and moving
retailers to carry a producer’s products to solve a sudden problem, products goods
and market them aggressively of which customers are unaware, and wealth The accumulation of past income,
trade salespeople Salespeople involved products that people do not necessarily natural resources, and financial
mainly in helping a producer’s think of buying resources
customers promote a product validity A condition that exists when a wholesaler An individual or organization
trademark A legal designation of research method measures what it is that sells products that are bought for
exclusive use of a brand supposed to measure resale, for making other products, or
trading company A company that links value A customer’s subjective assessment for general business operations
buyers and sellers in different countries of benefits relative to costs in wholesaling Transactions in which
traditional specialty retailers Stores that determining the worth of a product products are bought for resale, for
carry a narrow product mix with deep value analysis An evaluation of each making other products, or for general
product lines component of a potential purchase business operations
transfer pricing Prices charged in sales value conscious Concerned about price width of product mix The number of
between an organization’s units and quality of a product product lines a company offers
transportation The movement of variable costs Costs that vary directly wiki Type of software that creates an
products from where they are made to with changes in the number of units interface that enables users to add
intermediaries and end users produced or sold or edit the content of some types of
trend analysis An analysis that focuses on vendor analysis A formal, systematic websites
aggregate sales data over a period of evaluation of current and potential willingness to spend An inclination to
many years to determine general trends vendors buy because of expected satisfaction
in annual sales venture team A cross-functional group from a product, influenced by
truck wholesalers Limited-service that creates entirely new products that the ability to buy and numerous
wholesalers that transport products may be aimed at new markets psychological and social forces
directly to customers for inspection vertical channel integration Combining word-of-mouth communication Personal
and selection two or more stages of the marketing informal exchanges of communication
tying agreement An agreement in which channel under one management that customers share with one another
a supplier furnishes a product to a vertical marketing system (VMS) A about products, brands, and companies
channel member with the stipulation marketing channel managed by a World Trade Organization (WTO) An
that the channel member must single channel member to achieve entity that promotes free trade among
purchase other products as well efficient, low-cost distribution aimed at member nations by eliminating trade
unaided recall test A posttest in which satisfying target market customers barriers and educating individuals,
respondents are asked to identify viral marketing A strategy to get companies, and governments about
advertisements they have seen recently consumers to share a marketer’s trade rules around the world
but are not given any recall clues message, often through e-mail or zone pricing Pricing based on
undifferentiated targeting strategy A online videos, in a way that spreads transportation costs within major
strategy in which an organization dramatically and quickly geographic zones

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