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Business and organizational customers
Any buyers who buy for resale or to produce other goods and services.
Purchasing managers
Buying specialists for their employers.
Multiple buying influence
Several people share in making a purchase decision—perhaps even top management.
Buying center
All the people who participate in or influence a purchase.
Requisition
A request to buy something.
Purchasing specifications
A written (or electronic) description of what the firm wants to buy.
New-task buying
When an organization has a new need and the buyer wants a great deal of information.
Straight rebuy
A routine repurchase that may have been made many times before.
Modified rebuy
The in-between process where some review of the buying situation is done—though not as much as in new-task buying or as little as in straight rebuys.
White paper
An authoritative report or guide that addresses important issues in an industry and offers solutions.
Competitive bids
Terms of sale offered by different suppliers in response to the buyer's purchase specifications.
Vendor analysis
Formal rating of suppliers on all relevant areas of performance.
Just-in-time delivery (JIT)
Reliably getting products there just before the customer needs them.
Negotiated contract buying
Agreeing to a contract that allows for changes in the purchase arrangements.
Outsource
When the buying organization chooses to contract with an outside firm to produce goods or services rather than producing them internally.
North American Industry Classification System (NAICS) codes
Codes used to identify groups of firms in similar lines of business.
Foreign Corrupt Practices Act
A law passed by the U.S. Congress in 1977 that prohibits U.S. firms from paying bribes to foreign officials.
Place
Making goods and services available in the right quantities and locations—when customers want them.
Channel of distribution
Any series of firms or individuals who participate in the flow of products from producer to final user or consumer.
Direct marketing
Direct communication between a seller and an individual customer using a promotion method other than face-to-face personal selling.
Discrepancy of quantity
The difference between the quantity of products it is economical for a producer to make and the quantity final users or consumers normally want.
Discrepancy of assortment
The difference between the lines a typical producer makes and the assortment final consumers or users want.
Regrouping activities
Adjusting the quantities or assortments of products handled at each level in a channel of distribution.
Accumulating
Collecting products from many small producers.
Bulk-breaking
Dividing larger quantities into smaller quantities as products get closer to the final market.
Sorting
Separating products into grades and qualities desired by different target markets.
Assorting
Putting together a variety of products to give a target market what it wants.
Traditional channel systems
A channel in which the various channel members make little or no effort to cooperate with one another.
Vertical channel conflict
Conflict that occurs between firms at different levels in the channel of distribution.
Horizontal channel conflict
Conflict that occurs between firms at the same level in a distribution channel.
Channel captain
A manager who helps direct the activities of a whole channel and tries to avoid, or solve, channel conflicts.
Vertical marketing systems
Channel systems in which the whole channel focuses on the same target market at the end of the channel.
Corporate channel systems
Corporate ownership all along the channel.
Vertical integration
Acquiring firms at different levels of channel activity.
Administered channel systems
Various channel members informally agree to cooperate with one another.
Contractual channel systems
Various channel members agree by contract to cooperate with one another.
Ideal market exposure
When a product is available widely enough to satisfy target customers' needs but not exceed them.
Intensive distribution
Selling a product through all responsible and suitable wholesalers or retailers who will stock or sell the product.
Selective distribution
Selling through only those intermediaries who will give the product special attention.
Exclusive distribution
Selling through only one intermediary in a particular geographic area.
Multichannel distribution
When a producer uses several competing channels to reach the same target market—perhaps using several intermediaries in addition to selling directly.
Multichannel shoppers
Shoppers who use different channels as they move through the purchase process.
Omnichannel
A multichannel selling approach where a single retailer provides a seamless customer shopping experience from desktop computer, mobile device, telephone, or brick-and-mortar store.
Reverse channels
Channels used to retrieve products that customers no longer want.
Waste Electrical and Electronic Equipment (WEEE) Directive
The European Community's law that requires producers to take back waste electrical and electronic equipment.
Exporting
Selling some of what the firm produces to foreign markets.
Licensing
Selling the right to use some process, trademark, patent, or other right for a fee or royalty.
Management contracting
The seller provides only management skills—others own the production and distribution facilities.
Joint venture
In international marketing, a domestic firm entering into a partnership with a foreign firm.
Direct investment
A parent firm has a division (or owns a separate subsidiary firm) in a foreign market.
Promotion
Communicating information between the seller and potential buyer or others in the channel to influence attitudes and behavior.
Personal selling
Direct spoken communication between sellers and potential customers, usually in person but sometimes over the telephone or even via an online conference.
Mass selling
Communicating with large numbers of potential customers at the same time.
Advertising
Any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor.
Sales promotion
Those promotion activities—other than advertising, publicity, and personal selling—that stimulate interest, trial, or purchase by final customers or others in the channel.
Publicity
Any unpaid form of nonpersonal presentation of ideas, goods, or services.
Sales managers
Managers concerned with managing personal selling.
Advertising managers
Managers of their company's mass-selling effort in television, newspapers, magazines, online, and advertising on social media sites.
Sales promotion managers
Managers of their company's sales promotion effort.
Public relations
Communication with noncustomers—including the press, labor, public interest groups, stockholders, and the government.
Integrated marketing communications
The intentional coordination of every communication from a firm to a target customer to convey a consistent and complete message.
AIDA model
Framework for promoting Attention, Interest, Desire, Action.
Communication process
Source conveys a message to a receiver.
Source
Sender of a message in communication.
Receiver
Target of a message, usually a customer.
Noise
Distraction reducing communication effectiveness.
Encoding
Translating a message into words or symbols.
Decoding
Receiver translating the encoded message.
Message channel
Carrier through which the message travels.
Direct response promotion
Direct communication prompting immediate customer action.
Pushing
Promotion effort to sell the entire marketing mix.
Pulling
Promotion encouraging consumers to request products.
Adoption curve
Model showing when groups accept new ideas.
Innovators
First group to adopt new products.
Early adopters
Respected individuals who adopt products early.
Early majority
Group waiting for early adopters' approval.
Late majority
Cautious group adopting ideas later.
Laggards
Individuals resistant to new ideas, preferring tradition.
Primary demand
Demand for a general product idea.
Selective demand
Demand for a specific company's brand.
Task method
Budgeting based on specific job requirements.
Advertising agencies
Specialists in planning mass-selling advertising.
Advertising allowances
Price reductions to encourage local advertising.
Cooperative advertising
Cost-sharing ads between producers and retailers.
Product advertising
Ads aimed at selling a specific product.
Institutional advertising
Ads promoting an organization's image or ideas.
Pioneering advertising
Ads developing primary demand for a category.
Competitive advertising
Ads creating selective demand for a brand.
Direct competitive advertising
Ads aiming for immediate buying action.
Indirect competitive advertising
Ads highlighting product advantages for future decisions.
Comparative advertising
Ads comparing specific brands using names.
Reminder advertising
Ads keeping a product's name visible.
Advertising media
Means for communicating messages to target markets.
Pay-per-click
Advertiser pays when a customer clicks ad.
Retargeting
Ads shown based on previous online behavior.
Click-through rate
Clicks divided by ad impressions, expressed as a percentage.
Influencers
Trusted figures swaying purchase decisions.
Copy thrust
Core message communicated by ad content.
Corrective advertising
Ads correcting previous deceptive advertising.
Trade promotion
Sales promotion aimed at intermediaries.
