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<div align="center"><font face="Arial, Helvetica, sans-serif" size="3"><b>over
200 marketing terms by our experts</b></font></div>
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<p align="left" class="unnamed1"><span class="unnamed1"> <b><a name="a"></a>ABC
Analysis - an effective way of classifying customer accounts and target
customers into three categories, A, B & C where A = most attractive accounts
and C = least attractive accounts. </b></span></p>
<p><b><span class="unnamed1"> <span class="unnamed1Copy">Adoption process
(the buying process) - any method that explains the step-by-step way that
consumers behave in buying products where they begin with ignorance of
a product and move through the 'steps or stages' to purchasing. </span></span></b>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Advertising - the
placing of a persuasive announcement in audio, video, electronic or printed
form with for the purposes of promotion of products or services. </b>
</span></span>
<p><span class="unnamed1Copy"><b><span class="unnamed1"> <span class="unnamed1Copy">Advertising
agency - an organisation providing a range of services related to advertising
(see marketing agency to compare and contrast the two) and design. Generally
the larger ones (found primarily in London and Manchester) will have marketing
expertise and provide a multimedia service - however this is often 'farmed
out' to specialist multimedia agencies. </span></span></b></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Anchor effect -
where consumers compare product prices against an established product,
like the market leader. The bias created attracts consumers towards this
price - the anchor effect. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Ansoff matrix -
a four box matrix used for looking at taking existing products / services
into new markets new products into existing markets. </b></span></span>
<p> <span class="unnamed1Copy"><span class="unnamed1"><b>Antitrust laws
- US policy forbidding monopolies, unfair competition and restraints of
trade. The laws also forbid lessening of competition by exclusive dealing
and price discrimination. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Average lifetime
- the average time (in days, months or years) a customer buys from your
business. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Average lifetime
value - the amount of money spent during the average lifetime (see average
lifetime) by a customer. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Average-cost pricing
- basing product pricing by using a method of adding a fixed percentage
onto the total cost of producing the product. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Bait & switch advertising
- a misleading advertising offer intended to mislead the prospective customer
into thinking that the company is selling a product at a price which the
company has no intention of doing so. The purpose is to increase inquiries
and thus switch the consumer to buy from the company. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Balance of trade
- the difference between a country's exports and imports. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Banner advertising
- a small rectangular banner placed by companies on other web sites The
hosting web site owner is paid revenue for the number of page impressions
or the number of click throughs to the client web site </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Banner exchange
schemes - method of networking whereby companies with complimentary products
or services exchange banner adverts to increase traffic to their respective
web sites. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Barriers to competition
- market forces which make entering the market difficult. Branding, advertising
& promotion, patents, market entry restrictions and tariffs are examples
of this. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Barriers to market
entry - the factors making successful new product development difficult
to bring to market like the economy, laws and technical knowledge and
ability. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Below-the-line cost
- Any cost that is not itemised in a production budget. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Benefit segmentation
- dividing prospects and customers into groups based on what benefit they
are looking for from a product. For example, some people choose bottled
beers due to their perceived better taste whereas others may choose to
drink them for 'trend or image' reasons. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Benefit selling
- where a salesperson states product benefits that closely match the prospective
customers needs in order to win the sale. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Beta product testing
- where software companies like Microsoft will freely distribute an early
working version of a new product so that a mass user group can identify
glitches and report back the problems to the product development team.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Block plan - a store
layout plan with actual sizes, shapes and locations off all store goods.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Body copy - the
main text in an advert, company literature or web site</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Bonus pack - a pack
or carton giving extra away for free or a reduced price.</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Boomerang method
- A salesperson's method of turning an objection into a reason for acting
immediately with the intention of strengthening the possibility of winning
the sale. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Boston Growth Matrix
- an analytical tool used in portfolio management to categorise products
into four areas - cash cows, stars, problem child (question mark) and
dogs. This tool developed by the Boston Consulting Group is used to look
for possible problems and helps with divesting and harvesting of products.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand - The brand
is the name, logo and any special property that identifies a product or
service in its own right. Legally it is referred to as a trademark. The
brand can be a single product, a group of products or the entire offer
of a company (e.g., Macdonalds). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand awareness
- the level of customer awareness of a brand's existence within a market.
Brand choice - the purchase of one brand instead of another where a choice
exists. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand dilution -
weakening of brand image by launching too many line extensions or using
the brand name across a wide variety of areas. There are rare examples
of this actually working in practise like Virgin, however, other factors
have contributed to the success of brands like Virgin. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="Brandequity"></a>Brand
equity - the value or perception of the qualities of a brand within a
market, based on attitudes, beliefs and favourable consequences of using
the brand. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand extension
(also called line extension) - The process of launching a new product
line using an existing brand name and adding a 'tag' to identify it with.
For example Blackcurrant Tango is a line extension of the Tango brand.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand generic -
not the same as generic brand! A brand generic is the latter half of a
brand identity. Hoover vacuum cleaner , Hoover the brand and vacuum cleaner
the generic. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand image - perception
of the brand in the mind of a prospective customer. People's beliefs,
expectations and feelings about a brand. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand indifference
- this is where the customer has no preference for one brand over another
for whatever reason. Often these customers will purchase brands based
on convenience, price or by chance (for further reading on chance try
looking up the Bernoulli Principle in marketing textbooks). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand logo - The
'badge' of the brand, which may or may not include the brand name. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="loyalty"></a>Brand
loyalty - the bond of habit or tendency of a customer to buy a brand based
on their beliefs, perception, attitudes and experience of use of that
brand. Brand loyal customers have a very high barrier to 'switching' products
(see brand switching). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand management
- the management process carried out by a company and / or its agency
responsible for developing all aspects of the brand. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brand name - The
part of a brand represented in letters or numerals. This does not include
the logo. Brand positioning (see positioning) </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="brandswitching"></a>Brand
switching - where a customer changes to another brand or exhibits buying
behaviour that possesses no loyalty to buying one brand over another.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Break-even point
- the period in time from product launch when the sales of a product equal
the total cost of production, marketing administration and distribution
of that product. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Break-even profit
point - the time period when total sales costs since launch equals the
total cost of product development and all other associated costs since
launch. This time period always comes later than the break-even point.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Broadcast quality
- the quality of video needed for TV broadcast - this is a much higher
quality production (and therefore more expensive) than needed for multimedia
or VHS use. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>B-roll - a term
used when a company produces a corporate or product video. The B-roll
is footage not included in the original video and is given to TV and the
media with the intention of providing a more detailed insight into aspects
of the new image or product. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Brown goods - consumer
electronic goods like TVs video's hi-fi. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Budget - Companies
refer to the budget as 'sales budget' or 'marketing budget'. Sales budget
refers to the amount of sales forecasted over a given period and marketing
budget is the amount of money allocated to spend on marketing the product.
It can be confusing sometimes. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Buying signal -
Salespeople identify buying signals in order to 'close' a sale. These
are often key phrases or visual signals given by customers. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>CAD - Computer Aided
Design</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Captive market -
where a customer is in an environment like a motorway service station
or airport and has no other alternative source from which to purchase.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Cartel - an immoral
arrangement where like minded businesses fix or set prices to maximise
profit. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Category killer
- A large store (physical or virtual) that concentrates solely on a very
narrow range of products and offers poor service but prices the products
very low. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Cause related marketing
- a marketing policy using an approach which appeals to the greater good
of humanity. For example organic foods or Body shop. </b></span></span><span class="unnamed1Copy"><span class="unnamed1"><b>These
companies aim to do business and protect and respect animal life or the
planet. A company adopting this approach must ensure that all of its activities
are carried out in a way which supports their claim to be green and eco-friendly.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="channel"></a>Channel
(also called distribution channel) - the network of organisations and
systems for getting the product from the producer to purchaser. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Close - the point
at which the salesperson attempts to finish the deal when selling.Club
plan selling - using existing customers or members to gain reward for
'introducing another person' to a product or service. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Comparative advertising
- an advert in which reference or inference to another competitive product
is made and compares or invites the customer to compare the two. Taking
the 'Pepsi challenge' is a good example of this. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Competitive advantage
- where one company has an advantage over another because of things like
lower production costs, superior product quality or uniqueness. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Contingency planning
- making back-up plans in case the main plan fails. Corporate image -
the image that a company portrays to the outside world.</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Corporate strategy
- The main company plan containing a 'mission' human and financial resource
strategies together with all the business strategies of the company in
priority order. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"> <b>Cost-plus pricing
- selling a range of products by setting the price on the basis of adding
a fixed mark-up to the total costs of production and associated costs</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Crisis management
- an organised method of minimising the impact of a serious event, product
failure or adverse publicity.</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="customepromiscuity"></a>Customer
promiscuity - the number or proportion of customers who defect from buying
your brand every year. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="customerretention"></a>Customer
retention -the number or proportion of customers who are retained (stay
doing business with a company) every year. This is usually expressed as
a percentage or by using the average customer lifetime value (see above)</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Customer satisfaction
- the study of looking at customers experience of a product or service
against their expectations. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="d"></a>Database
marketing - the management process of developing relationships with existing
customers and new business prospects by electronically storing and analysing
data to produce useful information on which to make future marketing decisions.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="d-commerce"></a>d-commerce
- using new technologies like digital TV to sell products and services.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Decision Making
Unit (DMU) - The individual or team responsible for making the final buying
decision (see also influencers). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Demand curve - a
graph showing how price affects the sales of a product with all other
variables being constant. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Demand oriented
pricing - setting the price on the basis of demand at various prices.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Demographics - Human
factors such as age, sex, education, religion, earnings, occupation and
geography which are used to classify customers for building target customer
groups. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Depth interview
- A detailed interview used in market research where the individual expresses
a range of views rather than answering yes or no. These are used to a
gain deep insight and understanding of issues. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Dichotomous question
- a market research question where the answer can either be one choice
or another, e.g., yes or no. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="digitalprint"></a>Digital
Print - a very cheap way of printing when only a low number of printed
material is required. It differs from lithographic (standard) printing
in both quality and cost. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Direct advertising
- a mass promotion where the advertising material goes to a known target
audience, like direct mail. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Direct channel -
selling goods from the producer direct to the end user without a middleman.
Divesting - where the company sells or 'divests' a product service or
category for strategic reasons. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>DMA - Direct Marketing
Association</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Downsizing - Reducing
the number of employees and restructuring the company in order to increase
profitability. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Early Adopters -
people who buy a product at a very early stage after launch - before mass
take-up of a product but after the innovators who will buy at an earlier
stage. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Early and late majority
- people who will wait to buy a product until after it has been tried
and tested by the innovators and early adopters but buy before the product
has become well-established. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="e-commerce"></a>e-commerce
- The exchange of monies (and data) via the Internet to buy goods, gain
information from remote sources and transfer money (on-line banking).
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>EDI (Electronic
Data Interchange) - exchange of data between companies to facilitate day-to-day
business. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>EFTPOS (Electronic
Fund Transfer at Point-of-Sale) - selling products to consumers by electronically
taking money at the point of sale , e.g., supermarket checkout. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Elasticity - elasticity
measures how increasing or decreasing the price affects demand for a product.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Export marketing
- the process of marketing goods or services outside the parent companies
home country. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="extranet"></a>Extranet
- a closed computer network link to share information between different
companies. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="fragmentation"></a>Fragmentation
- the fine splitting of markets into segments then fragments as consumers
become more selective in their buying behaviour or where there is a plethora
of product choice. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="frequency"></a>Frequency
- The number of times you get your promotional message across to the average
target customer during the period of a campaign. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Full-line pricing
- Where there is a dependency of pricing between one product and another
in a line of goods sold by that company. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="g"></a>Gap
Analysis - A complex process identifying the gap between what is being
done now in the marketing of a product and where it should be to fall
into line with overall strategic objectives. Gap analysis identifies what
needs to be done and assesses the cost and probability of achieving it.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>GATT - General Agreement
on Tariffs and Trade GDP (Gross Domestic Product) - The total value of
goods and services produced by a country over a given time. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Generic advertising
- advertising aimed not at growing a particular brand but at persuading
usage of a particular product area. Generic brand - a product named by
its generic class, e.g., DVD player, video etc.</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Global advertising
- an advertising campaign that is run across many countries and continents
with a similar message, modified only slightly for each target country.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Global brand - a
brand name used world-wide (like Coca Cola). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>GNP (Gross National
Product) - a country's total financial output and services output over
a given period of time.</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="grouptesting"></a>Group
testing - an expression used in market research where many people are
gathered together in the same environment to discuss, taste or test products,
services or advertising. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Halo effect - an
expression used in data management and general business. </b></span></span><span class="unnamed1Copy"><span class="unnamed1"><b>Data
collection defines the term as the carry-over effect seen when data with
sample error is used in other calculations. In business, the term often
refers to the added effect of one thing upon another. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Hard goods - goods
like home furnishings, hardware, finishing and appliances. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Harvesting - a strategy
used when a company is in need of money or forecasts a downturn in the
long-term market. The company usually maximises the amount of turnover
from a product by a variety of ways, such as lowering the price, saturating
the market etc. to achieve this. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Headline - the main
heading of an advert. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Hierarchy of needs
(See Maslow) Hit rate - a sales ratio term used to express the number
of customers converted for every call made. Hits - the number of times
a particular web site or page on a web site has been visited by people
surfing the web. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Horizontal integration
- the acquisition of businesses in the same market place to strengthen
the business and reduce competition. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>IDM - Institute
of Direct Marketing</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Impulse purchase
- a quick buying decision that is made without the customer going through
an 'adoption process' first. An example of this is the buying of chocolate
at a supermarket checkout. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Influencers - the
individuals in a company that have a direct influence on the final decision
of any buying choice. These people may be end users, lower management
in large companies or any individual that has the ear of anyone on the
Decision Making Unit (see Decision Making Unit). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Innovators - people
who buy a product soon after launch and without the need for seeking other
opinions or experience. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="intranet"></a>Intranet
- a company's internal communication network on which employees can access
information and newsletters via a graphics interface such as a browser
like Internet Explorer or Netscape. </b></span></span><span class="unnamed1Copy"><span class="unnamed1"><b>The
Intranet may be connected to the Internet for employees to access information,
however, people outside the company cannot gain access to the Intranet.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>JIT (Just in Time)
- a manufacturing method used to reduce stock levels by planing to receive
goods exactly when they are needed.</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>JIT II (Just in
time II) - an advanced version of JIT where there is a greater relationship
between the manufacturer and its suppliers. Often the suppliers will have
their personnel working within the manufacturers plant. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Joint venture -
a collaboration between two or more companies to make a business project
successful. Key account - a company's major account holders. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="k"></a>KVI
(Known Value Items) - a set of key brands within a retail environment
where their prices are well known by the average consumer. Consumers cannot
be aware of every price and so the KVIs are the brands that will make
a store look cheap or expensive. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Laggards - people
who will not buy a product until after it has become well established
and owned by a great number of people </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Law of diminishing
return - this states that there is a point after which adding things like
product features or increasing quality will not be worthwhile as there
will be a low return for the company in doing this. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="lifecycle"></a>Life
cycle - the evolution of a brand from its launch (birth), through to the
end of its natural life where the product is deleted from a company's
portfolio. There are different kinds of product life cycle depending on
the market however and life cycles can range from as little as one year
in a high tech environment like computers through to many decades. The
life cycle is characterised by a period of slow growth at launch, followed
quickly by fast exponential sales growth. The growth in sales slows at
the product reaches a maturity phase and later goes into decline. This
is then followed by product withdrawal for financial reasons. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="extension"></a>Line
extension - a new product that has carries the name of an existing brand
Normally new sizes, tastes, colours, models etc. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>List price - the
published price of an item, excluding any discount offered by a reseller.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Lithographic printing
- a term used to describe the process for printing what is called the
'traditional' way. Most printing of promotional brochures is done in this
way (see also digital printing). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="loyalty"></a>Loyalty
schemes - a method used for building relationship with customers by obtaining
detailed information about their habits, rewarding the for buying from
your business and attempting to stop them switching business to a competitor.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b> Macro / micro segmentation
- a mulitstep approach to business looking at a company's macro environment
such as its customers SIC code and size of the buying firm through to
micro issues such as order size and urgency. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Macromarketing -
this looks at larger marketing issues such as the economy, political situation,
changes in legislation etc. on a broad level. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Market coverage
- a measure of how many outlets in a given area (compared to the total
number of outlets) stock a product. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Market index - an
analytical technique used to express two or several factors into numerical
form. This is used for a number of reasons including targeting. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Market penetration
- a strategy that aims to increase businesses within a market or to maintain
business if defending competition from competitors. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="marketresearch"></a>Market
research - the process of selecting methods of gathering, recording and
analysing market data for marketing purposes. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="marketsegment"></a>Market
segment - a group of customers in a market with a defined set of needs.
Markets usually have a number of these groups and thus are called segments.
Further subdivision of segments is known as market fragments. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="segmentation"></a>Market
segmentation - The process of looking at the different customer needs
within a market and dividing them into different segments based on these
needs. (see market segments). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Market share - the
percentage of unit or £ sales of any product within its market. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="marketing"></a>Marketing
- (not the technical definition) the process of managing a company's products
or services to maximise the profitability of the company (unless the organisation
is non-profit making) . It evaluates current and changing customer needs
and market conditions to develop new products or services. The process
ensures that all aspects of the product, optimum places for selling, setting
prices and its promotion, are conducted in the best way. These same principles
are also applied to existing products and company portfolios. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="marketing mix"></a>Marketing
mix - assigning financial resources to the various elements of the marketing
of a product or service. The four P's , Product, Price, Place and Promotion
are all allocated a budget for marketing purposes (also see promotional
mix). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Marketing Agency
- Full-service and non full-service. The majority of marketing agencies
provide a high level of marketing advice and expertise on marketing matters.
A full service agency, like The Tip Top Think Tank provide a full service
in-house with expert understanding of strategy, design, e-business, multimedia,
web site development and direct marketing / database development. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="marketingplan"></a>Marketing
plan - a detailed instruction plan outlining the methods needed for a
product to be successful within a market. It evaluates market conditions,
previous sales history, SWOT (see SWOT analysis), and future promotion
plans. This document is usually for one product or a group of products,
however, in smaller businesses it may form the entire company plan. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Mark-up - the extra
price that the company sells its product using the cost of production
price for the basis of calculating the mark-up. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Maslow's hierarchical
needs - a well established theory of Abram Maslow that examines the way
humans are motivated and seeks to explain their aspirations. A good tool
for use in both marketing and sales. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Media buying - the
analysis of client needs by a marketing or advertising agency for subsequent
purchase of advertising space on behalf of the client. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Media mix - the
allocation of money for spending on media advertising such as TV, radio
and press. Micromarketing - the study of the marketing activities of a
company. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="missionstatement"></a>Mission
statement - a public statement of a company's intent. This includes the
purpose and strategic aims of the company. The mission forms the basis
for all company activities. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Multibrand strategy
- the act of a company having one or more products in the same competing
market. Soap powder and shampoo are good examples of this. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Multimedia agency
- An organisation providing 2-D and 3-D interactive presentations for
use with computers, web sites and touch-screen kiosks. These agencies
rarely deal with traditional design or marketing. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Multiple packaging
- a term used for various things including a product that has more than
one layer of packaging, such as a foil container inside a cardboard carton.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="mysteryshopping"></a>Mystery
shopping - a research method where a representative of the market research
company will pose as a customer to assess the level of service provided
by a company. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="n"></a>National
brand - a brand that is marketed throughout one country. However, a national
brand may be marketed in different countries under a different name. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Negative advertising
- a method of advertising aimed at exposing the weaknesses of competitor
products. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="npd"></a>New
product development - The process of identifying customer needs and bringing
a product or service to the market that matches these needs. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="nichemarketing"></a>Niche
marketing - a product aimed at a specific market segment or segments.
(see market segments). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Non-price competition
- marketing a product without focusing on price. In this situation there
will usually be focus on service levels, product choice etc. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Non-profit making
organisation - a Government or charity organisation with a remit to serve
the public or to benefit good causes. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>OEM - Original Equipment
Manufacturer - companies that buy other companies goods to make its products.
PC manufacturers (Digital, Dell, IBM etc.) are examples of an OEM. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="online"></a>On-line
- An activity that takes place over the Internet. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Organogram - a company's
organisation chart. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Parallel pricing
- pricing goods in line with the competition. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Perito's Principle
- also referred to as the 80:20 rule. 80% of your business comes directly
from 20% of your customers. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Point of sale advertising
- advertising features, display racks and cardboard cut-outs positioned
at the place where customers buy products. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="portal"></a></b></span><span class="unnamed1"><b>P</b></span><span class="unnamed1"><b>ortal
- a term often used to refer to a company that hosts a number of banner
adverts with the main aim of generating significant amounts of revenue.
</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="portfolio"></a>Portfolio
management - managing a range or 'portfolio' of products or services and
new developments in an integrated way, analysing the competitors in each
market and recommending methods for optimising the future portfolio. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="premarketing"></a>Pre-marketing
- marketing activities prior to product launch. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="premiumprice"></a>Premium
price - a product with a high price, usually sold on style, quality uniqueness
or rarity. These 'exclusive' products are normally sold through selected
outlets. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Product line - a
company's product or group of products with similar characteristics. Product
lines may contain a subdivision of further product lines. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Product manager/
product marketing manager - An individual in a company who is responsible
for the marketing of a product or group of products. In larger companies
this post reports into the marketing director. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="promotioalmix"></a>Promotional
mix - assigning financial resources to the various elements needed for
promoting a product or service. This 'mix' is used as a basis of promoting
the product. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Public relations
- the process of developing relations and finding positive angles for
gaining press and media exposure. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Public sector -
Governmental organisations set-up to meet the needs of the country. These
bodies generally exist to serve without making a profit. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="pullstrategy"></a>Pull
strategy - a method of gaining extra sales by use of point-of-sale advertising,
stocking offers to resellers etc. the purpose here is to pull the product
through the distribution channel and push it to customers. This is termed
'push-pull'. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="qualitative"></a>Qualitative
- market research used to generate detailed information rather than numbers
or percentages. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Qualitative into
quantitative research - a method of usage qualitative research as a primary
tool in order to develop the ideal way to carry out quantitative market
research. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="quantitative"></a>Quantitative
- market research used to generate a numerical evaluation of a given parameter
in a market place like 'awareness', number of times used etc. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>R&D (Research &
Development) - the process and team responsible for bringing new products
to market and improving existing products. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Rate card - the
published rate at which a newspaper, TV or radio station sells advertising
space or time. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Re-branding - changing
the name, image or logo of a current brand on the market. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="relational"></a>Relational
purchasing - the way customers buy products or services based on their
beliefs about a product or company and their relationship with that brand
or company. An 'emotional' purchase. (see transactional purchasing for
contrast). </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="relationshipmarketing"></a>Relationship
marketing - marketing by development of relationships with customers through
tactics like mailings, clubs, magazines etc. The marketing relies on building
an effective database of customer and their needs. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Respondent - an
individual or company who completes a request like filling in a form,
taking part in market research or returning a reply from a mailshot. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="response"></a>Response
driven mechanism - a reply paid card or device used to collect data or
gain further interest / sale of a product. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Retailing mix -
the development of a plan outlining the optimum way to attract customers,
including store position, layout, store design, services offered, advertising
and promotion budget. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="s"></a>Sample
- in market research, a selection of individuals for research that contains
a representative sample of the market. In promotion a sample is a small
pack of goods distributed to prospective customers in order to experience
the product. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Sampling error -
the difference between market research findings and actual outcomes -
normally this process takes time to see the outcomes before a comparison
can be made. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Search engines -
an Internet term for a site that can search for what you are looking for
when you insert a series of key words or phrases. The 'search engine'
uses meta tags to find your subject manner and lists their findings with
the most likely match first. It is possible to generate 1,000,000+ findings
from a search, so it needs to be done in a way that produces only a shortlist
of findings. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Selected outlets
- chosen agencies or resellers of a product or service - often to maintain
exclusivity of the product and a high price. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Service level agreement
- an agreement between two parties (either in the same company or with
suppliers or customers) that clearly defines the expectations required
from one or both parties. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="sharedvalues"></a>Shared
values approach - method of placing products of similar perceived quality
within the same promotional setting, or companies product portfolio. It
justifies the extra 'premium price' of relatively unknown brands. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="SIC"></a>SIC
(Standard Industrial Classification) - products and establishments are
divided into SIC codes depending on various factors. The system was developed
by the US Department of Commerce. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Strategic market
planning - the decision making process that examines and recommends the
best strategies for a company to market new and existing products. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Surfing - spending
time using the Internet visiting various sites. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="SWOT"></a>SWOT
analysis - a matrix used for examining the Strengths, Weaknesses, Opportunities
and Threats for companies, products or service within a market. The idea
is to maximise the strengths and opportunities and minimise the weaknesses
or threats. SWOT can also be in a quantitative form whereby weighting
factors are added to each element of the SWOT.</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Tactics - Detailed
short-term ways of achieving the marketing strategy. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="targetcustomers"></a>Target
customers - A list of customers with common interests that form the focus
of your promotion. The list can be individual names or in the case of
mass marketing just common characteristics like age, sex income etc. used
to generate campaigns that will get to these people. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="targetmarket"></a>Target
market - the chosen market for a particular product or service. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Test marketing -
using various geographical areas to test the likely uptake of a product
or service. Factors such as price, advertising campaigns and distribution
channels can be changed in the different areas to measure the optimum
route to market for product launch. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="transactional"></a>Transactional
purchasing - the way customers buy products or services based on facts
and availability like price. This way assumes that the customer has no
preference for supplier or brand. </b></span></span><span class="unnamed1Copy"><span class="unnamed1"><b>The
Internet has increased the level of transactional purchasing and as such
businesses require a different approach to Internet marketing in many
circumstances. A ' non-emotional' purchase decision (see relational purchasing
for contrast).</b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Unit pricing - a
product that is sold by weights or measures. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b><a name="USP"></a>USP
(Unique Selling Proposition, also referred to as Unique Selling Principle)
- a brand's unique property or characteristic that clearly differentiates
it from the competition. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Vertical integration
- the merger or acquisition of two companies within a market but compliment
each other because they are within different parts of the channel, e.g.,
a manufacturer merging with a retail chain, or a supplier merging with
a company that buys its products in order to market their goods. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Weak product - a
product in decline or easily vulnerable to attack due to its poor quality
or marketing power. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>White goods - Large
kitchen appliances so called because of their colour. Yield management
- The methods used in such industries as airlines and hotels to maximise
the amount of profit per unit sold. </b></span></span>
<p><span class="unnamed1Copy"><span class="unnamed1"><b>Zapping - the phenomenon
of consumers using the TV remote control during adverts, thus reducing
the effectiveness of advertising campaigns. </b></span></span>
<p>
</td>
</tr>
</table>
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