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Point of Purchase
A touchpoint or advertisement in a retail environment that enables a consumer to make a purchasing decision.
RFID Technology
Wireless technology that uses electromagnetic waves to track and identify objects
Brand Cue
An element within a consumer brand that enables consumers to instantly recognize that brand
Routine Decision making
Decisions that refer to frequent purchases with little thought put into them like grocery shopping.
Limited Decision Making
Decisions that refer to purchases of unknown brands within a familiar brand category or occasional purchases like a clothing brand
Extensive Decision Making
Decisions that refer to high involvement, infrequent purchases on expensive items like a car or a house.
Impulse Buying
Purchases that have no thought put into them, almost second nature like shopping sprees.
Viral Marketing
Marketing campaigns that use social media and word of mouth techniques that spreads rapidly to consumers almost like a virus.
Market Segmentation
Refers to the division of prospective buyers into smaller groups for more targeted marketing outreach.
Product Mix Width
Refers to the number of product lines a business or company offers, with each product line having a distinct number of products.
Primary Research
Research that is conducted by the business itself without third party sources
Secondary Research
Research that the business does not conduct itself or takes from previously made sources
Extensive Secondary Research
Research that the business uses from third party sources that are outside of the business.
Intensive Secondary Research
Research that the business uses from previously made reports from within the business
Quantitative Data
Qualitative Data