Page 239 - Marketing the Basics 2nd

glossary 231
Self-cannibalization A consequence of a product-filling strategy where the new product introduced eats into the sales or profits of other products offered by the same vendor.
Social network marketing An online marketing strategy entailing building brand awareness via customers’ social networks.
Social network potential A measurement of an individual’s ability to pass along messages that appeal to them.
Straight extension Taking an existing product-line from a domestic market to one overseas.
Strategic business unit (SBU) A semi-autonomous unit of a large-sized company, often in charge of setting its own corporate strategy.
Strategic plan The road map that outlines how the goals and objectives will be achieved.
Strategic planning A process of developing and maintaining a plan of action that coordinates the activities of every business unit to ensure the long-term goals of an organization are fulfilled.
Strategic scents A marketing strategy that entails using fragrances to differentiate a product offering from the competition.
Sunk cost An irrecoverable expense.
Supply chain A linear process that maps the transformations of a
raw material into a finished good.
Sustained competitive advantage An enduring core competency that provides lucrative returns for a company over time.
T-Test A test applied to a null hypothesis claiming a sample size of less than 30 is a t-distribution.
Target market The group to which the firm decides to market their product.
Target-return pricing A method of pricing that ensures the total profit will equal the expected return on investment.
Telephone marketing A form of direct marketing where the seller uses the telephone to contact customers.