comparing two versions of a web page to see which one performs better; sometimes known as split testing
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Ad hoc research
a research project that focuses on a specific problem, collecting data at one point in time with one sample of respondents
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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
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advertising agency
an organization that specializes in providing advertising services to its clients
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advertising
any paid form of non personal communication about an organization, product, service, or idea by an identified sponsor
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Advertising Message
the use of words, symbols and illustrations to communicate to a target audience using prime media
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advertising platform
the aspect of the seller's product that is most persuasive and relevant to the target consumer
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ambient advertising
any out-of-home display advertising that does not fall into normal outdoor categories
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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
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attitude
the degree to which a customer or prospect likes or dislikes a brand
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awareness set
the set of brands that the consumer is aware may provide a solution to a problem
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beliefs
a descriptive thought that a person holds about something
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benefit segmentation
the grouping of people based on the different benefits they seek from a product
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bonus pack
pack giving the customer extra quantity at no additional cost
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bounce rate
the percentage of visitors to a particular website who navigate away from the site after viewing only one page.
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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
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brand equity
a measure of the strength of the brand in the marketplace
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brand extension
the use of an established brand name on a new brand within the same broad market
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brand stretching
the use of an established brand name for brands in unrelated markets
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brand values
the core values and characteristics of a brand
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business analysis
a review of the projected sales, costs and profits for a new product to establish whether these factors satisfy company objectives
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business mission
the organization's purpose, usually setting out its competitive domain, which distinguishes the business from others of its type
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buying centre
a group that is involved in the buying decision; also known as a decision-making unit (DMU) in industrial buying situations
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Catalogue Marketing
the sale of products through catalogues distributed to agents and customers,. usually by mail or at stores
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causal research
the study of cause-and-effect relationships
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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
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chain of marketing productivity
the processes through which marketing activities contribute to the performance of the firm
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channel integration
the way in which the players in the channel are linked
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channel intermediaries
organizations that facilitate the distributiono of products to customers
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channel of distribution
The means by which a product is passed from the producer to the ultimate consumer
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channel strategy
the selection of the most effective distribution channel, the most appropriate level of distribution intensity and the degree of channel integration
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choice criteria
the various attributes (and benefits) people use when evaluating products and services
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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
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cognitive dissonance
post-purchase concerns of a consumer arising from uncertainty as to whether a decision to purchase was the correct one
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cognitive learning
the learning of knowledge, and development of beliefs and attitudes without direct reinforcement
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communications-based co-branding
the linking of two or more existing brands from different companies or business units for the purposes of joint communication
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competitive bidding
drawing up detailed specifications for a product and putting the contract out to tender
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competitor analysis
an examination of the nature of actual and potential competitors, their objectives and strategies
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concept testing
testing new product concepts with groups of target consumers
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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
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consumer decision journey
the information search, decision making and consumption journey undertaken by a consumer making a purchase
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consumer panel
consumers who provide information on their purchases over time
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consumer pull
the targeting of consumers with communications (e.g. promotions) designed to create demand that will pull the product into the distribution chain
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Consumer-generated advertising
advertising messages created by brands for consumers
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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
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continuous research
conducting the same research on the same sample repeatedly to monitor the changes that are taking place over time
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contractual vertical marketing system
a franchise arrangement (e.g. a franchise) tying producers and resellers together
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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
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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.
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corporate vertical marketing system
a channel situation where an organisation gains control of distribution through ownership
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culture
Beliefs, customs, and traditions of a specific group of people.
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custom research
research conducted for a single firm to provide specific information its managers need
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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
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customer benefits
those things that a customer values in a product; customer benefits derive from product features
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customer brand engagement
the level of a customer's cognitive, emotional and behavioural investment in specific brand interactions
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customer insight
Knowledge about customers' needs, profile, preferences, and digital experiences from analysis of qualitative and quantitative data.
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Customer Relationship Management (CRM)
the methodologies, technologies, and e-commerce capabilities used by companies to manage customer relationsihps
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customer satisfaction
fulfillment of the buyer's expectations and needs
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customer value
perceived benefits minus perceived sacrifice
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customer value proposition
a clear statement of the differential benefits offered by a product or service
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customized marketing
A market coverage strategy where a company decides to target individual customers and to develop separate marketing mixes for each
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Decision Making Process
the stages that organizaitons and people pass through when purchasing a physical product or service
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depth interview
interviews with people knowledgeable about the general subject being investigated
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Decriptive Research
the systematic examination of a marketing question in order to draw conclusions
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differentiated marketing
a market-coverage strategy in which a firm decides to target several market segments and designs separate offers for each
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differentiation strategy
the selection of one or more customer choice criteria, and positioning the offering accordingly to achieve superior customer value
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diffusion of innovation
the process whereby new products, services, and ideas are distributed to the members of society
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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
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disintermediation
the elimination of intermediaries such as wholesalers or distributers from a marketing channel
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distribution analysis
an examination of movements in power bases, channel attractiveness, physical distribution and distribution behaviour
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distribution push
the targeting of channel intermediaries with communications (e.g. promotions) to push the product into the distribution chain
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Dwell time
the length of time a visitor spends on a webpage before moving to a new page
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dynamic pricing
a strategy whereby prices are adjusted over time to maximize a company's revenues
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e-WOM
electronic word of mouth
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earned media
refers to publicity gained through promotional efforts other than advertising, as opposed to paid media, which refers to publicity gained through advertising.
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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
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environmental scanning
the process of monitoring and analysing the marketing environment of a company
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ethics
the moral principles and values that govern the actions and decisions of an individual or group
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ethnographic research
an approach to research that emphasizes the observation/interviewing of consumers in their natural setting
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event sponsorship
sponsorship of a sporting or other event
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evoked set
the set of brands that the consumer seriously evaluates before making a purchase
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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
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exhibition
an event that brings buyers and sellers together in a commercial setting
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experiental marketing
the term used to describe marketing activities that involve the creation of experciences for consumers
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experimentation
the application of stimuli to different matched groups under controlled conditions for the purpose of measuring their effect on a variable
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exploratory research
the preliminary exploration of a research area prior to the main data collection stage
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family brand name
a brand name used for all products in a range
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focus group
a group brought together for a discussion focusing on an aspect of a company's marketing
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focused marketing
a market coverage strategy where a company decides to target one market segment with a single marketing mix
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franchise
a legal contract allowing an individual or group to operate a business in the name of a recognized company
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full cost pricing
pricing so as to include all costs, and based on certain sales volume assumptions
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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
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global branding
adopting a standardized approach to marketing in all the countries that the brand is available
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going-rate prices
prices at the rate generally applicable in the market, focusing on competitors' offerings rather than on company costs
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green marketing
a practice of marketing that markets environmentally firendly products and services
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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
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guerilla marketing
a techlnique that captures the attention of consumers by the creation of highly unusual and unexpected forms of promotional activity
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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
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horizontal electronic marketplaces
online procurement sites that cross several industries and are typically used to source low-cost supplies such as MRO items
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individual brand name
a brand name that does not identify a brand with a particular company
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