New product marketing

A/B testing

comparing two versions of a web page to see which one performs better; sometimes known as split testing

Ad hoc research

a research project that focuses on a specific problem, collecting data at one point in time with one sample of respondents

administered vertical marketing system

a channel situation where a manufacturer that dominates a market through its size and strong brands may exercise considerable power over intermediaries even though they are independent

advertising agency

an organization that specializes in providing advertising services to its clients

advertising

any paid form of non personal communication about an organization, product, service, or idea by an identified sponsor

Advertising Message

the use of words, symbols and illustrations to communicate to a target audience using prime media

advertising platform

the aspect of the seller's product that is most persuasive and relevant to the target consumer

ambient advertising

any out-of-home display advertising that does not fall into normal outdoor categories

Ambush Marketing

any activity where a company tries to associate itself or its products with an event without paying any fee to the event owner

attitude

the degree to which a customer or prospect likes or dislikes a brand

awareness set

the set of brands that the consumer is aware may provide a solution to a problem

beliefs

a descriptive thought that a person holds about something

benefit segmentation

the grouping of people based on the different benefits they seek from a product

bonus pack

pack giving the customer extra quantity at no additional cost

bounce rate

the percentage of visitors to a particular website who navigate away from the site after viewing only one page.

brand

a distinctive product offering created by the use of a name, symbol, design, packaging, or some combination of these, intended to differentiate it from its competitors

brand equity

a measure of the strength of the brand in the marketplace

brand extension

the use of an established brand name on a new brand within the same broad market

brand stretching

the use of an established brand name for brands in unrelated markets

brand values

the core values and characteristics of a brand

business analysis

a review of the projected sales, costs and profits for a new product to establish whether these factors satisfy company objectives

business mission

the organization's purpose, usually setting out its competitive domain, which distinguishes the business from others of its type

buying centre

a group that is involved in the buying decision; also known as a decision-making unit (DMU) in industrial buying situations

Catalogue Marketing

the sale of products through catalogues distributed to agents and customers,. usually by mail or at stores

causal research

the study of cause-and-effect relationships

cause-related marketing

the commercial activity by which businesses and charities or causes form a partnership with one another to market an image, product or service for mutual benefit

chain of marketing productivity

the processes through which marketing activities contribute to the performance of the firm

channel integration

the way in which the players in the channel are linked

channel intermediaries

organizations that facilitate the distributiono of products to customers

channel of distribution

The means by which a product is passed from the producer to the ultimate consumer

channel strategy

the selection of the most effective distribution channel, the most appropriate level of distribution intensity and the degree of channel integration

choice criteria

the various attributes (and benefits) people use when evaluating products and services

classical conditioning

the process of using an established relationship between a stimulus and a response to cause the learning of the same response to a different stimulus

cognitive dissonance

post-purchase concerns of a consumer arising from uncertainty as to whether a decision to purchase was the correct one

cognitive learning

the learning of knowledge, and development of beliefs and attitudes without direct reinforcement

communications-based co-branding

the linking of two or more existing brands from different companies or business units for the purposes of joint communication

competitive bidding

drawing up detailed specifications for a product and putting the contract out to tender

competitor analysis

an examination of the nature of actual and potential competitors, their objectives and strategies

concept testing

testing new product concepts with groups of target consumers

Consumer Culture Theory (CCT)

views consumption less as a rational or conscious activity and more as a socio-culturalor experiental activity that is laden with emotion

consumer decision journey

the information search, decision making and consumption journey undertaken by a consumer making a purchase

consumer panel

consumers who provide information on their purchases over time

consumer pull

the targeting of consumers with communications (e.g. promotions) designed to create demand that will pull the product into the distribution chain

Consumer-generated advertising

advertising messages created by brands for consumers

contextual targeting

a form of targeted advertising whereby advertisements are served by automated systems based on the identity of the user and the content displayed

continuous research

conducting the same research on the same sample repeatedly to monitor the changes that are taking place over time

contractual vertical marketing system

a franchise arrangement (e.g. a franchise) tying producers and resellers together

control

the stage in the marketing planning process or cycle when the performance against plan is monitored so that corrective action can be taken if necessary

cookie

Pieces of information generated by a Web server and stored in the user's computer, ready for future access; embedded in the HTML information flowing back and forth between the user's computer and the servers; were implemented to allow user-side customization of Web information.

corporate vertical marketing system

a channel situation where an organisation gains control of distribution through ownership

culture

Beliefs, customs, and traditions of a specific group of people.

custom research

research conducted for a single firm to provide specific information its managers need

customer analysis

a survey of who the customers are, what choice criteria they use, how they rate competitive offerings and on what variables they can be segmented

customer benefits

those things that a customer values in a product; customer benefits derive from product features

customer brand engagement

the level of a customer's cognitive, emotional and behavioural investment in specific brand interactions

customer insight

Knowledge about customers' needs, profile, preferences, and digital experiences from analysis of qualitative and quantitative data.

Customer Relationship Management (CRM)

the methodologies, technologies, and e-commerce capabilities used by companies to manage customer relationsihps

customer satisfaction

fulfillment of the buyer's expectations and needs

customer value

perceived benefits minus perceived sacrifice

customer value proposition

a clear statement of the differential benefits offered by a product or service

customized marketing

A market coverage strategy where a company decides to target individual customers and to develop separate marketing mixes for each

Decision Making Process

the stages that organizaitons and people pass through when purchasing a physical product or service

depth interview

interviews with people knowledgeable about the general subject being investigated

Decriptive Research

the systematic examination of a marketing question in order to draw conclusions

differentiated marketing

a market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each

differentiation strategy

the selection of one or more customer choice criteria, and positioning the offering accordingly to achieve superior customer value

diffusion of innovation

the process whereby new products, services, and ideas are distributed to the members of society

direct marketing

(1) acquiring and retaining customers without the use of an intermediary; (2) the distribution of products, information and promotional benefits to target consumers through interactive communication in a way that allows response to be measured

disintermediation

the elimination of intermediaries such as wholesalers or distributers from a marketing channel

distribution analysis

an examination of movements in power bases, channel attractiveness, physical distribution and distribution behaviour

distribution push

the targeting of channel intermediaries with communications (e.g. promotions) to push the product into the distribution chain

Dwell time

the length of time a visitor spends on a webpage before moving to a new page

dynamic pricing

a strategy whereby prices are adjusted over time to maximize a company's revenues

e-WOM

electronic word of mouth

earned media

refers to publicity gained through promotional efforts other than advertising, as opposed to paid media, which refers to publicity gained through advertising.

economic value to the customer (EVC)

the amount a customer would have to pay to make the total life cycle costs of a new and a reference product the same

environmental scanning

the process of monitoring and analysing the marketing environment of a company

ethics

the moral principles and values that govern the actions and decisions of an individual or group

ethnographic research

an approach to research that emphasizes the observation/interviewing of consumers in their natural setting

event sponsorship

sponsorship of a sporting or other event

evoked set

the set of brands that the consumer seriously evaluates before making a purchase

exclusive distribution

an extreme form of selective distribution where only one wholesaler, retailer or industrial distributor is used in a geographical area to sell the products of a particular supplier

exhibition

an event that brings buyers and sellers together in a commercial setting

experiental marketing

the term used to describe marketing activities that involve the creation of experciences for consumers

experimentation

the application of stimuli to different matched groups under controlled conditions for the purpose of measuring their effect on a variable

exploratory research

the preliminary exploration of a research area prior to the main data collection stage

family brand name

a brand name used for all products in a range

focus group

a group brought together for a discussion focusing on an aspect of a company's marketing

focused marketing

a market coverage strategy where a company decides to target one market segment with a single marketing mix

franchise

a legal contract allowing an individual or group to operate a business in the name of a recognized company

full cost pricing

pricing so as to include all costs, and based on certain sales volume assumptions

geodemographics

the process of grouping households into geographic clusters based on such information as type of accommodation, occupation, number and age of children, and ethnic background

global branding

adopting a standardized approach to marketing in all the countries that the brand is available

going-rate prices

prices at the rate generally applicable in the market, focusing on competitors' offerings rather than on company costs

green marketing

a practice of marketing that markets environmentally firendly products and services

group discussion

a group, usually of six to eight consumers, brought together for a discussion focusing on an aspect of a company's marketing strategy

guerilla marketing

a techlnique that captures the attention of consumers by the creation of highly unusual and unexpected forms of promotional activity

hall tests

bringing a sample of target consumers to a room that has been hired so that alternative marketing ideas (e.g. promotions) can be tested

horizontal electronic marketplaces

online procurement sites that cross several industries and are typically used to source low-cost supplies such as MRO items

individual brand name

a brand name that does not identify a brand with a particular company