Marketing

Books

Jim Blythe

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  • Glossary

    Affect The emotional component of attitude. What one feels about a brand.

    Ambient advertising Commercial messages which become part of the environment.

    Aspirational group A group to which one wishes to belong. The need to belong is likely to lead to purchase of specific items to indicate membership of the group.

    Brand The medium through which marketing activities are focused.

    Call to action The part of the marketing communication which tells the audience what to do next in order to obtain the product.

    Classical conditioning Creating an automatic response in an individual or organism by repetition of a stimulus. This is used in some promotions.

    Cognition The intellectual component of attitude. What one knows about a brand.

    Conation Intended behaviour. What one intends to do about a brand (buy or not buy).

    Consideration set See evoked set.

    Consumer The individual who enjoys the benefits of the product.

    Customer The individual or firm who makes the decision to purchase.

    DELPHI An iterative research technique which elicits a consensus from a group of expert respondents.

    Deontology The philosophical belief that actions can be judged to be ethical or unethical independently of their outcomes.

    Differential pricing See second-market discounting.

    Dissociative group A group to which one does not wish to belong. The desire not to be seen as part of the group is likely to lead to the avoidance of some brands or products.

    Economic choice The decision made between spending money on one item rather than on another.

    Evoked set The group of brands which a consumer chooses between when buying a product.

    Focus group Several individual respondents brought together to discuss a product or brand.

    Formal group A group with a known, recorded membership list, and conditions for entry. These conditions are likely to include product purchases.

    Franchise An agreement for one company to use the brands and business format of another.

    Global Appertaining to the entire world rather than to individual nations.

    Grey market 1) Re-import of goods which have been discounted in a second market. 2) Older consumers.

    Hedonic Relating to the pleasurable aspects of ownership.

    Hypercompetition A state of affairs in which competition is so intense companies seek to destabilise the market rather than plan strategically.

    Indifference curve The trade-off in desirability between different quantities of one type of product and different quantities of another.

    Informal group A group with no fixed membership list, and arbitrary rules for entry. Groups of friends are typical of this group: associating with friends almost always involves shared consumption.

    Involvement Emotional attachment to a brand.

    Key account A strategically-important customer, either for reasons of profit or for reasons of access to other customers and markets.

    Logistics The process of moving raw materials through the value chain to finished products.

    Monopolistic competition A situation where one major company has strong influence on the market, but other firms can still enter.

    Monopoly A situation where one company controls the market.

    Need A felt lack of something.

    Normative compliance The pressure exerted by a group to ensure that norms of behaviour are adhered to. This can include ownership of particular interns or brands.

    Odd-even pricing Ending prices with ‘99c’ or ‘95p’.

    Oligopoly A situation where a small group of companies control the market between them.

    Operant conditioning Creating an automatic response in an individual or organism with the active co-operation of the subject. This is the basis of most sales promotion and a great deal of advertising.

    Perfect competition A situation where buyers and sellers have perfect knowledge of the market, and where no single buyer or seller can control the market.

    Planned obsolescence The deliberate addition to a product of features which will go out of date or wear out quickly in order to open up the possibility of selling new products.

    PLC Product lifecycle. The stages a product goes through from its introduction to its final withdrawal from the market.

    Price elasticity of demand The extent to which the customer's desire for a product is affected by its price.

    Primary group The people one sees on a daily basis: friends and family.

    Primary research Information collected for the topic currently being investigated.

    Publics Groups or organisations which impact on, or are impacted by, the organisation's activities.

    Qualitative data Research information which cannot be expressed numerically.

    Quantitative data Research information which can be expressed numerically.

    Reference group The people from whom the individual takes behavioural cues.

    Secondary group A group to which one belongs, but which is composed of people who are only infrequently seen. This may include professional associations, which often require specific purchase behaviour.

    Secondary research Research which was collected for a purpose other than the one currently under consideration.

    Second-market discounting Reducing prices charged to one or more segments of the market.

    Self-image The view an individual has of him or herself, moderated by behaviour.

    Teleology The philosophical belief that actions can be judged to be ethical or unethical according to their outcomes: the end justifies the means.

    Utilitarian Relating to the practical aspects of ownership.

    Want A specific satisfier for a need. A brand or product which will fulfil a basic need.


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