Marketing Terms

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Advertising campaign

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A marketing message(s) focused on a target audience over an extended period.

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Advertising platform

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The product attributes and issues conveyed in an advertising message to the target audience.

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Advertising target market

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The specific group of individuals identified as willing and able buyers at which an advertising message is aimed.

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Advertising theme

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The central message of an advertising campaign that is repeated throughout the campaign

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Cooperative advertising

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Advertising (usually in-store) that is designed and paid for cooperatively by both the marketer and retailer.

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Selective demand advertising

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Advertising in which the marketer attempts to create awareness of, and provide information about, a specific brand.

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Slice-of-life advertising

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An advertising message that portrays consumers in situations similar to their perceptions of their own lifestyles.

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Testimonial

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An advertising message that is presented by someone who is viewed as an expert or user of the product.

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Vertical cooperative advertising

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Advertising by marketers at different stages of the distribution system who advertise jointly

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Agent

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An intermediary who does not take title to merchandise but facilitates exchanges by bringing buyers and sellers together.

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Commission merchant

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An agent that sells for manufacturers

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Manufacturer’s agent

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An independent sales representative who works for several manufacturers of related but non-competing product lines.

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Selling agent

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An individual who is responsible for all of the marketing activities for a manufacturer

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Brand

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An identification (name, symbol, etc.) of a product that is unique and distinguishable from competitor’s products

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Brand leveraging

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Using the power of an existing brand name to support a company’s entry into a new, but related, product category.

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Brand line extension

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Using an established product’s brand name to launch a new, slightly different item in the same product category.

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Brand mark

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The symbol or design associated with a brand.

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Brand name -

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The words or numbers associated with a brand.

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Dealer brand

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A brand that is created and owned by an intermediary

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Flanker brand

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A new brand introduced into the market by a company that already has an established brand in the same product category. It is designed to compete in the same category but target a different consumer group

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Generic name

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A brand name associated with the type of a product rather than with a specific product

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Manufacturer’s brand -

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A brand that is owned and marketed by the manufacturer that produces the branded product

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Trademark

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Legal production against copycats of a brand

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Channel of distribution

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A product’s trip from producer/manufacturer to the buyer.

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Consumer

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The ultimate user of a product

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Buyer’s remorse

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The anxiety associated with a buyer’s perception that he/she made a poor purchase decision

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Consumer market

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A market dominated as consumers as buyers

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Early buyers

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Consumers who look for new products or product attributes and often buy a product early in its life cycle

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Early majority

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Consumers who watch early buyer’s response to new products before buying

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Laggards

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Consumers who are strongly oriented toward existing products and are the last buyers of a new product

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Coupon

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A certificate that entitles a consumer to a price reduction or a cash refund.

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Demand

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a schedule of the amount of a product that will be purchased at various prices.

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Derived demand

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A demand that is predicated on another demand. For example, the demand for cattle by meat packers is derived from the demand for beef by consumers.

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Effective demand

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The combination of the desire to buy a product and the financial ability to buy the product

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Elastic demand

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When a percentage change in price results in a greater percentage change in quantity demanded

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Inelastic demand

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When a percentage change in price results in a smaller percentage change in quantity demanded

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Joint demand

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When the demand for two different products are complementary

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Selective demand

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Demand for a particular product brand

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Unitary demand

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When a percentage change in price results in the same percentage change in quantity demanded

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Discount

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A deduction from the list price in the form of cash or something else of value

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Cash discount

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A discount offered to buyers who pay for the product within a stated period

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Seasonal discount

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A discount offered to customers who purchase a product during a season of the year when demand for the product is low

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Quantity discount

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A discount offered to buyers who purchase larger than normal quantities of the product

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Forecasting

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To predict the quantity of a product that will be sold at various times in the future

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Barometric techniques

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Using the analyses of past trends to predict the future

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Delphi technique

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A panel of experts is asked to assign rankings and probabilities to various factors that may influence future events

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Market breakdown technique

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The sales forecast for a large unit is divided into forecasts for smaller units

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Market buildup technique

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Forecast information on market segments is aggregated to arrive at a total sales forecast

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Market share analysis

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The sales forecast for the firm is based on the forecast for the industry (based on assumption of market share).

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Scenario analysis

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A description of future outcomes is developed based on probabilities of occurrence and cause-and-effect relationships.

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Simple trend analysis

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Historical data is used to project future trends

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Income

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Money received in return for labor or services provided, sale of assets and return on investments

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Discretionary income

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The amount of after-tax income a consumer has available for spending

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Intermediary

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An independent or corporate-owned business that helps move products from the producer to the ultimate consumer

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Intermediate market

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A set of wholesalers and retailers that buy goods from others and re-sells them

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Merchant middleman

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An intermediary that takes title to the products it distributes

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Label

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A tag or part of a package that provides information about a product.

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Grade label

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Product quality is identified by a number, word or letter