Page 236 - Marketing the Basics 2nd

228 glossary
Personality The sum of qualities and traits that are particular to a person.
Podcasts A free audio broadcast available for downloading onto portable listening devices (e.g. Mp3 players) or computers.
Points-of-difference Benefits associated to a brand that cannot be found in other products.
Points-of-parity Benefits associated to a brand that are found in other products.
Post-purchase behaviour The customer’s reaction to their purchase decision.
Pre-approaching Researching information about the prospect’s needs and concerns.
Presenting The step in the selling process in which the salesperson pitches the product to the prospect, highlighting the product’s benefits.
Prescriptive The way things should be.
Price discrimination A pricing method whereby a different price
is charged according to a customer’s willingness to pay.
Price escalation The inflation of price of a product sold in an international market compared to the local market.
Product A bundle of physical, psychological and experiential benefits that the customer receives that satisfies one or many wants or needs.
Product adaptation The changing of a product to suit local tastes and needs.
Product ladders A mental ranking system a consumer employs to sort products in a particular category.
Product-line The similarity between different product-lines. Product-line consistency A measurement of how closely related
each product-line is to each other in terms of benefits they offer
Product-line depth The number of different packaging sizes of a product.