Page 547 - Foundations of Marketing

G-2 Glossary

buildup approach Measuring company cash discount A price reduction given to local sellers and negotiate sales in
sales potential by estimating how much buyers for prompt payment or cash large, central markets
of a product a potential buyer in a payment communication A sharing of meaning
specific geographic area will purchase catalog marketing A type of marketing through the transmission of information
in a given period, multiplying the in which an organization provides a communications channel The medium
estimate by the number of potential catalog from which customers make of transmission that carries the coded
buyers, and adding the totals of all the selections and place orders by mail, message from the source to the receiver
geographic areas considered telephone, or the Internet community shopping center A type
bundle pricing Packaging together two category killer A very large specialty store of shopping center with one or two
or more complementary products and that concentrates on a major product department stores, some specialty
selling them at a single price category and competes on the basis of stores, and convenience stores
business analysis Evaluating the potential low prices and product availability company sales potential The maximum
impact of a product idea on the firm’s category management A retail strategy percentage of market potential that an
sales, costs, and profits of managing groups of similar, often individual firm within an industry can
business (organizational) buying behavior substitutable products produced by expect to obtain for a specific product
The purchase behavior of producers, different manufacturers comparative advertising Compares the
government units, institutions, and cause-related marketing The practice of sponsored brand with one or more
resellers linking products to a particular social identified brands on the basis of one or
business cycle A pattern of economic cause on an ongoing or short-term basis more product characteristics
fluctuations that has four stages: centralized organization A structure in comparison discounting Setting a price at
prosperity, recession, depression, and which top-level managers delegate a specific level and comparing it with a
recovery little authority to lower levels higher price
business market Individuals, cents-off offers Promotions that allow competition Other organizations that
organizations, or groups that purchase buyers to pay less than the regular market products that are similar to
a specific kind of product for resale, price to encourage purchase or can be substituted for a marketer’s
direct use in producing other products, channel capacity The limit on the volume products in the same geographic area
or use in general daily operations of information a communication competition-based pricing Pricing
business products Products bought to use channel can handle effectively influenced primarily by competitors’
in a firm’s operations, to resell, or to channel captain The dominant leader of a prices
make other products marketing channel or a supply channel competition-matching
business services Intangible products channel power The ability of one channel approach Determining an advertising
that many organizations use in their member to influence another member’s budget by trying to match competitors’
operations goal achievement advertising outlays
buy-back allowance A sum of money client-based relationships Interactions competitive advantage The result of a
given to a reseller for each unit bought that result in satisfied customers who company matching a core competency
after an initial promotion deal is over use a service repeatedly over time to opportunities it has discovered in the
buying allowance A temporary price client publics Direct consumers of a marketplace
reduction to resellers for purchasing product of a nonprofit organization competitive advertising Tries to stimulate
specified quantities of a product closing The stage in the personal selling demand for a specific brand by
buying behavior The decision processes process when the salesperson asks the promoting its features, uses, and
and actions of people involved in prospect to buy the product advantages relative to competing brands
buying and using products co-branding Using two or more brands on component parts Items that become part
buying center The people within an one product of the physical product and are either
organization who make business codes of conduct Formalized rules and finished items ready for assembly or
purchase decisions standards that describe what the items that need little processing before
buying power Resources, such as money, company expects of its employees assembly
goods, and services, that can be traded coding process Converting meaning into a concentrated targeting strategy A market
in an exchange series of signs or symbols segmentation strategy in which an
buzz marketing An attempt to incite cognitive dissonance A buyer’s doubts organization targets a single market
publicity and public excitement shortly after a purchase about whether segment using one marketing mix
surrounding a product through a the decision was the right one concept testing Seeking a sample of
creative event combination compensation plan Paying potential buyers’ responses to a
captioned photograph A photograph with salespeople a fixed salary plus a product idea
a brief description of its contents commission based on sales volume conclusive research Research designed
captive pricing Pricing the basic product commercialization Refining and finalizing to verify insights through objective
in a product line low, while pricing plans and budgets for full-scale procedures and to help marketers in
related items higher manufacturing and marketing of a making decisions
cash-and-carry wholesalers Limited- product consideration set A group of brands within
service wholesalers whose customers commission merchants Agents that a product category that a buyer views as
pay cash and furnish transportation receive goods on consignment from alternatives for possible purchase

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