A global marketing approach that adjusts the marketing strategy and mix elements to each international target market, which creates more costs but hopefully produces a larger market share and return.

A vertical marketing system that coordinates successive stages of production and distribution through the size and power of one of the parties.

The mental process through which an individual passes from first hearing about an innovation to final adoption.

Any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor.

A marketing services firm that assists companies in planning, preparing, implementing, and evaluating all or portions of their advertising programs.

The dollars and other resources allocated to a product or a company advertising program.

The vehicles through which advertising messages are delivered to their intended audiences.

A specific communication task to be accomplished with a specific target audience during a specific period of time.

The strategy by which the company accomplishes its advertising objectives. It consists of two major elements: creating advertising messages and selecting advertising media.

Setting the promotion budget at the level management thinks the company can afford.

A wholesaler who represents buyers or sellers on a relatively permanent basis, performs only a few functions, and does not take title to goods.

Dividing a market into different age and life-cycle groups.

Promotional money paid by manufacturers to retailers in return for an agreement to feature the manufacturer’s products in some way.

The stage of the buyer decision process in which the consumer uses information to evaluate alternative brands in the choice set.

The sales step in which a salesperson meets the customer for the first time.

A person’s consistently favorable or unfavorable evaluations, feelings, and tendencies toward an object or idea.

Using digital and social media marketing approaches to engage business customers and manage customer relationships anywhere, anytime.

The 78 million people born during the years following World War II and lasting until 1964.

Pricing in which the seller designates some city as a basing point and charges all customers the freight cost from that city to the customer.

Dividing a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product.

Using online consumer tracking data to target advertisements and marketing offers to specific consumers.

A descriptive thought that a person holds about something.

Comparing the company’s products and processes to those of competitors or leading firms in other industries to identify best practices and find ways to improve quality and performance.

Dividing the market into segments according to the different benefits that consumers seek from the product.

The huge and complex data sets generated by today’s sophisticated information generation, collection, storage, and analysis technologies.

Online forums where people and companies post their thoughts and other content, usually related to narrowly defined topics.

A name, term, sign, symbol, or design, or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors.

A website that presents brand content that engages consumers and creates customer community around a brand.

The differential effect that knowing the brand name has on customer response to the product or its marketing.

Extending an existing brand name to new product categories.

The total financial value of a brand.

Setting price to break even on the costs of making and marketing a product or setting price to make a target return.

A wholesaler who does not take title to goods and whose function is to bring buyers and sellers together and assist in negotiation.

A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives.

The buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others.

The decision process by which business buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands.

The collection of businesses and products that make up the company.

Sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople.

The stages consumers normally pass through on their way to a purchase: awareness, knowledge, liking, preference, conviction, and, finally, the actual purchase.

People in an organization’s buying center who make an actual purchase.

All the individuals and units that play a role in the purchase decision-making process.

Cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities.

Setting a price for by-products to help offset the costs of disposing of them and help make the main product’s price more competitive.

Setting a price for products that must be used along with a main product, such as blades for a razor and games for a video-game console.

Direct marketing through print, video, or digital catalogs that are mailed to select customers, made available in stores, or presented online.

A giant specialty store that carries a very deep assortment of a particular line.

Marketing research to test hypotheses about cause-and-effect relationships.

Disagreements among marketing channel members on goals, roles, and rewards—who should do what and for what rewards.

A layer of intermediaries that performs some work in bringing the product and its ownership closer to the final buyer.

The sales step in which a salesperson asks the customer for an order.

The practice of using the established brand names of two different companies on the same product.

Buyer discomfort caused by postpurchase conflict.

Introducing a new product into the market.

A global communication strategy of fully adapting advertising messages to local markets.

Setting prices based on competitors’ strategies, prices, costs, and market offerings.

An advantage over competitors gained by offering greater customer value either by having lower prices or providing more benefits that justify higher prices.

The systematic monitoring, collection, and analysis of publicly available information about consumers, competitors, and developments in the marketing environment.

Strategies that strongly position the company against competitors and give it the greatest possible competitive advantage.

Setting the promotion budget to match competitors’ outlays.

Identifying key competitors; assessing their objectives, strategies, strengths and weaknesses, and reaction ­patterns; and selecting which competitors to attack or avoid.

A company whose moves are mainly based on competitors’ actions and reactions.

Consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands.

A market-coverage strategy in which a firm goes after a large share of one or a few segments or niches.

Testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal.

The buying behavior of final consumers—individuals and households that buy goods and services for personal consumption.

All the individuals and households that buy or acquire goods and ­services for personal consumption.

A product bought by final consumers for personal consumption.

Sales promotion tools used to boost short-term customer buying and engagement or enhance long-term customer relationships.

Brand exchanges created by consumers themselves—both invited and uninvited—by which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers.

A company should view and organize its marketing activities from the consumer’s point of view.

An organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers.

Creating, inspiring, and sharing brand messages and conversations with and among consumers across a fluid mix of paid, owned, earned, and shared channels.

A joint venture in which a company contracts with manufacturers in a foreign market to produce its product or provide its service.

A vertical marketing system in which independent firms at different levels of production and distribution join together through contracts.

A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.

A small store, located near a residential area, that is open long hours seven days a week and carries a limited line of high-turnover convenience goods.

A channel consisting of one or more independent producers, wholesalers, and retailers, each a separate business seeking to maximize its own profits, perhaps even at the expense of profits for the system as a whole.

Two or more outlets that are commonly owned and controlled.

A vertical marketing system that combines successive stages of production and distribution under single ownership—channel leadership is established through common ownership.

Setting prices based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk.

Adding a standard markup to the cost of the product.

The compelling “big idea” that will bring an advertising message strategy to life in a distinctive and memorable way.

Inviting broad communities of people—customers, employees, independent scientists and researchers, and even the public at large—into the new product innovation process.

Institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors.

The set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions.

A sales force organization in which salespeople specialize in selling only to certain customers or industries.

The total combined customer lifetime values of all of the company’s customers.

Fresh marketing information-based understandings of customers and the marketplace that become the basis for creating customer value, engagement, and relationships.

The value of the entire stream of purchases a customer makes over a lifetime of patronage.

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.

Managing detailed information about individual customers and carefully managing customer touch points to maximize customer loyalty.

The extent to which a product’s perceived performance matches a buyer’s expectations.

An analysis conducted to determine what benefits target customers value and how they rate the relative value of various competitors’ offers.

A company should put most of its resources into customer value–building marketing investments.

Setting price based on buyers’ perceptions of value rather than on the seller’s cost.

A company that focuses on customer developments in designing its marketing strategies and delivering superior value to its target customers.

New product development that focuses on finding new ways to solve customer problems and create more customer-satisfying experiences.

Making the brand a meaningful part of consumers’ conversations and lives by fostering direct and continuous customer involvement in shaping brand conversations, experiences, and community.

The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers.

People in an organization’s buying center who have formal or informal power to select or approve the final suppliers.

The PLC stage in which a product’s sales fade away.

Products that have neither immediate appeal nor long-run benefits.

A curve that shows the number of units the market will buy in a given time period, at different prices that might be charged.

Human wants that are backed by buying power.

Dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and generation.

The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics.

A retail store that carries a wide variety of product lines, each operated as a separate department managed by specialist buyers or merchandisers.

Business demand that ultimately comes from (derives from) the demand for consumer goods.

Marketing research to better describe marketing problems, situations, or markets, such as the market potential for a product or the demographics and attitudes of consumers.

Products that give both high immediate satisfaction and high long-run benefits.

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

Actually differentiating the market offering to create superior customer value.

Using digital marketing tools such as websites, social media, mobile apps and ads, online video, email, and blogs to engage consumers anywhere, at any time, via their digital devices.

Engaging directly with carefully targeted individual consumers and customer communities to both obtain an immediate response and build lasting customer relationships.

Entering a foreign market by developing foreign-based assembly or manufacturing facilities.

A marketing channel that has no intermediary levels.

Marketing that occurs by sending an offer, announcement, reminder, or other item directly to a person at a particular address.

Direct marketing via television, including direct-response television advertising (or infomercials) and interactive television (iTV) advertising.

A straight reduction in price on purchases during a stated period of time or of larger quantities.

A retail operation that sells standard merchandise at lower prices by accepting lower margins and selling at higher volume.

The cutting out of marketing channel intermediaries by product or service producers or the displacement of traditional resellers by radical new types of intermediaries.

Consumer buying behavior in situations characterized by high involvement but few perceived differences among brands.

A large, highly automated warehouse designed to receive goods from various plants and suppliers, take orders, fill them efficiently, and deliver goods to customers as quickly as possible.

Company growth through starting up or acquiring businesses outside the company’s current products and markets.

Adjusting prices continually to meet the characteristics and needs of individual customers and situations.

Purchasing through electronic connections between buyers and sellers—usually online.

A group of nations organized to work toward common goals in the regulation of international trade.

Economic factors that affect consumer purchasing power and spending patterns.

Sending highly targeted, highly personalized, relationship-building marketing messages via email.

A management approach that involves developing strategies that both sustain the environment and produce profits for the company.

Developing strategies and practices that create a world economy that the planet can support indefinitely.

An organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people’s current and future living environment.

A form of observational research that involves sending trained observers to watch and interact with consumers in their “natural environments.”

Creating a brand-marketing event or serving as a sole or participating sponsor of events created by others.

The act of obtaining a desired object from someone by offering something in return.

Giving a limited number of dealers the exclusive right to distribute the company’s products in their territories.

The approach, style, tone, words, and format used for executing an advertising message.

The drop in the average per-unit production cost that comes with accumulated production experience.

Gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses.

Marketing research to gather preliminary information that will help define problems and suggest hypotheses.

Entering foreign markets by selling goods produced in the company’s home country, often with little modification.

An off-price retailing operation that is owned and operated by a manufacturer and normally carries the manufacturer’s surplus, discontinued, or irregular goods.

A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.

A currently accepted or popular style in a given field.

Costs that do not vary with production or sales level.

Pricing in which goods are placed free on board a carrier; the customer pays the freight from the factory to the destination.

Personal interviewing that involves inviting small groups of people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer “focuses” the group discussion on important issues.

The sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business.

A contractual association between a manufacturer, wholesaler, or service organization (a franchisor) and independent businesspeople (franchisees) who buy the right to own and operate one or more units in the franchise system.

A contractual vertical marketing system in which a channel member, called a franchisor, links several stages in the production-distribution process.

Pricing in which the seller absorbs all or part of the freight charges in order to get the desired business.

People in an organization’s buying center who control the flow of information to others.

Dividing a market into different segments based on gender.

The stage in the business buying process in which a buyer describes the general characteristics and quantity of a needed item.

The 49 million people born between 1965 and 1976 in the “birth dearth” following the baby boom.

People born after 2000 (although many analysts include people born after 1995) who make up the kids, tweens, and teens markets.

Dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods.

Setting prices for customers located in different parts of the country or world.

A firm that, by operating in more than one country, gains R&D, production, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors.

Offering just the right combination of quality and good service at a fair price.

Governmental units—federal, state, and local—that purchase or rent goods and services for carrying out the main functions of government.

Two or more people who interact to accomplish individual or mutual goals.

The PLC stage in which a product’s sales start climbing quickly.

A portfolio-planning method that evaluates a company’s SBUs in terms of market growth rate and relative market share.

Consumer buying behavior in situations characterized by low consumer involvement and few significant perceived brand differences.

The sales step in which a salesperson seeks out, clarifies, and overcomes any customer objections to buying.

A channel arrangement in which two or more companies at one level join together to follow a new marketing opportunity.

The systematic search for new product ideas.

Screening new product ideas to spot good ones and drop poor ones as soon as possible.

Dividing a market into different income segments.

An off-price retailer that is independently owned and operated or a division of a larger retail corporation.

A marketing channel containing one or more intermediary levels.

Tailoring products and marketing programs to the needs and preferences of individual customers.

A product bought by individuals and organizations for further processing or for use in conducting a business.

People in an organization’s buying center who affect the buying decision; they often help define specifications and also provide information for evaluating alternatives.

The stage of the buyer decision process in which the consumer is motivated to search for more information.

A company should seek real product and marketing improvements.

Salespeople who conduct business from their offices via telephone, online and social media interactions, or visits from prospective buyers.

Schools, hospitals, nursing homes, prisons, and other institutions that provide goods and services to people in their care.

The logistics concept that emphasizes teamwork—both inside the company and among all the marketing channel organizations—to maximize the performance of the entire distribution system.

Carefully integrating and coordinating the company’s many communications channels to deliver a clear, consistent, and compelling message about the organization and its ­products.

Stocking the product in as many outlets as possible.

Training service employees in the fine art of interacting with customers to satisfy their needs.

Forming segments of consumers who have similar needs and buying behaviors even though they are located in different countries.

Collections of consumer and market information obtained from data sources within the company network.

Orienting and motivating customer-contact employees and supporting service employees to work as a team to provide customer satisfaction.

The PLC stage in which a new product is first distributed and made available for purchase.

A cooperative venture in which a company creates a local business with investors in a foreign market who share ownership and control.

Entering foreign markets by joining with foreign companies to produce or market a product or service.

Changes in an individual’s behavior arising from experience.

Entering foreign markets through developing an agreement with a licensee in the foreign market.

A person’s pattern of living as expressed in his or her activities, interests, and opinions.

Extending an existing brand name to new forms, colors, sizes, ingredients, or flavors of an existing product category.

Tailoring brands and marketing to the needs and wants of local customer segments—cities, neighborhoods, and even specific stores.

The larger societal forces that affect the microenvironment—demographic, economic, natural, technological, political, and cultural forces.

A term that has come to represent the merging of advertising and entertainment in an effort to break through the clutter and create new avenues for reaching customers with more engaging messages.

A joint venture in which the domestic firm supplies the management know-how to a foreign company that supplies the capital; the domestic firm exports management services rather than products.

Wholesaling by sellers or buyers themselves rather than through independent wholesalers.

The set of all actual and potential buyers of a product or service.

A runner-up firm that is fighting hard to increase its market share in an industry.

Company growth by identifying and developing new market segments for current company products.

A runner-up firm that wants to hold its share in an industry without rocking the boat.

The firm in an industry with the largest market share.

A firm that serves small segments that the other firms in an industry overlook or ignore.

Some combination of products, services, information, or experiences offered to a market to satisfy a need or want.

Company growth by increasing sales of current products to current market segments without changing the product.

A group of consumers who respond in a similar way to a given set of marketing efforts.

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes.

Evaluating each market segment’s attractiveness and selecting one or more segments to serve.

A company that pays balanced attention to both customers and competitors in designing its marketing strategies.

Setting a low price for a new product in order to attract a large number of buyers and a large market share.

Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price; the company makes fewer but more profitable sales.

The process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return.

The analysis tools, technologies, and processes by which marketers dig out meaningful patterns in big data to gain customer insights and gauge marketing performance.

A set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user.

Designing effective marketing channels by analyzing customer needs, setting channel objectives, identifying major channel alternatives, and evaluating those alternatives.

Selecting, managing, and motivating individual channel members and evaluating their performance over time.

A philosophy in which achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do.

Measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

The actors and forces outside marketing that affect marketing management’s ability to build and maintain successful relationships with target customers.

Turning marketing strategies and plans into marketing actions to accomplish strategic marketing objectives.

People and procedures dedicated to assessing information needs, developing the needed information, and helping decision makers to use the information to generate and validate actionable customer and market insights.

Firms that help the company to promote, sell, and distribute its goods to final buyers.

Planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.

The art and science of choosing target markets and building profitable relationships with them.

The set of tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market.

The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products.

The systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization.

The net return from a marketing investment divided by the costs of the marketing investment.

The marketing logic by which the company hopes to create customer value and achieve profitable customer relationships.

Designing an initial marketing strategy for a new product based on the product concept.

A website that engages consumers to move them closer to a direct purchase or other marketing outcome.

The PLC stage in which a product’s sales growth slows or levels off.

An independently owned wholesale business that takes title to the merchandise it handles.

The actors close to the company that affect its ability to serve its ­customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and publics.

Tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing.

The 83 million children of the baby boomers born between 1977 and 2000.

A statement of the organization’s purpose—what it wants to accomplish in the larger environment.

Marketing messages, promotions, and other content delivered to on- ­the-go consumers through their mobile devices.

A business buying situation in which the buyer wants to modify product specifications, prices, terms, or suppliers.

A need that is sufficiently pressing to direct the person to seek satisfaction of the need.

A distribution system in which a single firm sets up two or more marketing channels to reach one or more customer segments.

Combining two or more modes of transportation.

Advertising or other brand-produced online content that looks in form and function like the other natural content surrounding it on a web or social media platform.

The physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.

The first stage of the buyer decision process, in which the consumer recognizes a problem or need.

States of felt deprivation.

A good, service, or idea that is perceived by some potential customers as new.

The development of original products, product improvements, product modifications, and new brands through the firm’s own product development efforts.

A business buying situation in which the buyer purchases a product or service for the first time.

Media that carry messages without personal contact or feedback, including major media, atmospheres, and events.

Developing the promotion budget by (1) defining specific promotion objectives, (2) determining the tasks needed to achieve these objectives, and (3) ­estimating the costs of performing these tasks. The sum of these costs is the proposed promotion budget.

Gathering primary data by observing relevant people, actions, and situations.

Dividing the market into segments according to occasions when buyers get the idea to buy, actually make their purchase, or use the purchased item.

A retailer that buys at less-than-regular wholesale prices and sells at less than retail.

Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping.

Advertising that appears while consumers are browsing online, including display ads, search-related ads, online classifieds, and other forms.

Gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior.

Marketing via the internet using company websites, online ads and promotions, email, online video, and blogs.

Collecting primary data through internet and mobile surveys, online focus groups, consumer tracking, experiments, and online panels and brand communities.

Online social ­communities—blogs, online social media, brand communities, and other online ­forums—where people socialize or exchange information and opinions.

A person within a reference group who, because of special skills, knowledge, personality, or other characteristics, exerts social influence on others.

The pricing of optional or accessory products along with a main product.

The stage of the business buying process in which the buyer writes the final order with the chosen supplier(s), listing the technical specifications, quantity needed, expected time of delivery, return policies, and warranties.

Salespeople who travel to call on customers in the field.

The activities of designing and producing the container or wrapper for a product.

Working closely with partners in other company departments and outside the company to jointly bring greater value to customers.

Setting the promotion budget at a certain percentage of current or forecasted sales or as a percentage of the unit sales price.

The process by which people select, organize, and interpret information to form a meaningful picture of the world.

The stage of the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement.

Channels through which two or more people communicate directly with each other, including face-to-face, on the phone, via mail or email, or even through an internet “chat.”

Personal presentation by the firm’s sales force for the purpose of engaging customers, making sales, and building customer relationships.

The unique psychological characteristics that distinguish a person or group.

Products that give high immediate satisfaction but may hurt consumers in the long run.

Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.

The process by which management evaluates the products and businesses that make up the company.

Arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

A statement that summarizes company or brand positioning using this form: To (target segment and need) our (brand) is (concept) that (point of difference).

The stage of the buyer decision process in which consumers take further action after purchase, based on their satisfaction or dissatisfaction.

The sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call.

The sales step in which a salesperson tells the “value story” to the buyer, showing how the company’s offer solves the customer’s problems.

The amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service.

A measure of the sensitivity of demand to changes in price.

Information collected for the specific purpose at hand.

The first stage of the business buying process in which someone in the company recognizes a problem or need that can be met by acquiring a good or a service.

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

Adapting a product to meet local conditions or wants in foreign markets.

Combining several products and offering the bundle at a reduced price.

A detailed version of the new product idea stated in meaningful consumer terms.

The idea that consumers will favor products that offer the most quality, performance, and features; therefore, the organization should devote its energy to making continuous product improvements.

Company growth by offering modified or new products to current market segments.

Developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering.

Creating new products or services for foreign markets.

The course of a product’s sales and profits over its lifetime.

A group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges.

Setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors’ prices.

The set of all product lines and items that a particular seller offers for sale.

The way a product is defined by consumers on important attributes—the place the product occupies in consumers’ minds relative to competing products.

The characteristics of a product or service that bear on its ability to satisfy stated or implied customer needs.

A sales force organization in which salespeople specialize in selling only a portion of the company’s products or lines.

The stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item.

A portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification.

The idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving production and distribution efficiency.

The specific blend of promotion tools that the company uses to persuasively communicate customer value and build customer relationships.

Temporarily pricing prod­ucts below the list price, and sometimes even below cost, to increase short-run sales.

The stage of the business buying process in which the buyer invites qualified suppliers to submit proposals.

The sales step in which a salesperson or company identifies qualified potential customers.

Dividing a market into different segments based on lifestyle or personality characteristics.

Pricing that considers the psychology of prices and not simply the economics; the price is used to say something about the product.

Any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives.

Building good relations with the company’s various publics by obtaining favorable publicity; building up a good corporate image; and handling or heading off unfavorable rumors, stories, and events.

A promotion strategy that calls for spending a lot on consumer advertising and promotion to induce final consumers to buy the product, creating a demand vacuum that “pulls” the product through the channel.

The buyer’s decision about which brand to purchase.

A promotion strategy that calls for using the sales force and trade promotion to push the product through channels. The producer promotes the product to channel members who in turn promote it to final consumers.

Prices that buyers carry in their minds and refer to when they look at a given product.

A business whose sales come primarily from retailing.

All the activities involved in selling goods or services directly to final consumers for their personal, nonbusiness use.

The net return on advertising investment divided by the costs of the advertising investment.

Analyzing, planning, implementing, and controlling sales force activities.

An individual who represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building.

Short-term incentives to encourage the purchase or sale of a product or a service.

A standard that states the amount a salesperson should sell and how sales should be divided among the company’s products.

Products that have low immediate appeal but may benefit consumers in the long run.

A segment of the population selected for marketing research to represent the population as a whole.

Information that already exists somewhere, having been collected for another purpose.

Selling a product or service at two or more prices, where the difference in prices is not based on differences in costs.

The use of more than one but fewer than all of the intermediaries that are willing to carry the company’s products.

The idea that consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort.

The steps that salespeople follow when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up.

A company should define its mission in broad social terms rather than narrow product terms.

An activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.

Services are produced and consumed at the same time and cannot be separated from their providers.

Services cannot be seen, tasted, felt, heard, or smelled before they are bought.

Services cannot be stored for later sale or use.

The chain that links service firm profits with employee and customer satisfaction.

A retailer whose product line is actually a service; examples include hotels, airlines, banks, colleges, and many others.

The quality of services may vary greatly depending on who provides them and when, where, and how they are provided.

The portion of the customer’s purchasing that a company gets in its product categories.

Focusing the entire marketing process on turning shoppers into buyers as they approach the point of sale, whether during in-store, online, or mobile shopping.

A group of retail businesses built on a site that is planned, developed, owned, and managed as a unit.

A consumer product that the customer, in the process of selecting and purchasing, usually compares on such attributes as suitability, quality, price, and style.

The shopping practice of coming into retail store showrooms to check out merchandise and prices but instead buying from an online-only rival, sometimes while in the store.

Relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors.

The use of traditional business marketing concepts and tools to encourage behaviors that will create individual and societal well-being.

Independent and commercial online social networks where people congregate to socialize and share messages, opinions, pictures, videos, and other content.

Using online, mobile, and social media to engage customers, build stronger customer relationships, and augment sales performance.

A company should make marketing decisions by considering con­sumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests.

The idea that a company’s marketing decisions should consider consumers’ wants, the company’s requirements, consumers’ long-run interests, and society’s long-run interests.

Unsolicited, unwanted commercial email messages.

A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

A retail store that carries a narrow product line with a deep assortment within that line.

A global marketing strategy that basically uses the same marketing strategy and mix in all of the company’s international markets.

A brand created and owned by a reseller of a product or service.

Marketing a product in a foreign market without making any changes to the product.

A business buying situation in which the buyer routinely reorders something without modifications.

A group of firms in an industry following the same or a similar strategy.

The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities.

A basic and distinctive mode of expression.

A group of people with shared value systems based on common life experiences and situations.

A large, low-cost, low-margin, high-volume, self-service store that carries a wide variety of grocery and household products.

A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, nonfood items, and services.

Systematic development of networks of supplier-partners to ensure an appropriate and dependable supply of products and materials for use in making products or reselling them to others.

The stage of the business buying process in which the buyer tries to find the best vendors.

The stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers.

Managing upstream and downstream value-added flows of materials, final goods, and related information among suppliers, the company, resellers, and final consumers.

Gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.

Socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs.

An overall evaluation of the company’s strengths (S), weaknesses (W), ­opportunities (O), and threats (T).

Buying a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation.

Pricing that starts with an ideal selling price, then targets costs that will ensure that the price is met.

A set of buyers who share common needs or characteristics that a company decides to serve.

Using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts.

New product development in which various company departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness.

Forces that create new technologies, creating new product and market opportunities.

Using the telephone to sell directly to customers.

A sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company’s full line.

The stage of new product development in which the product and its proposed marketing program are tested in realistic market settings.

An independent logistics provider that performs any or all of the functions required to get a client’s product to market.

The sum of the fixed and variable costs for any given level of production.

Integrating ethnic themes and cross-cultural perspectives within a brand’s mainstream marketing, appealing to consumer similarities across subcultural segments rather than differences.

Sales promotion tools used to persuade resellers to carry a brand, give it shelf space, and promote it in advertising.

A market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.

Pricing in which the company charges the same price plus freight to all customers, regardless of their location.

A consumer product that the consumer either does not know about or knows about but does not normally consider buying.

Members of the buying organization who will actually use the purchased product or service.

The series of internal departments that carry out value-creating activities to design, produce, market, deliver, and support a firm’s products.

A network composed of the company, suppliers, distributors, and, ultimately, customers who partner with each other to improve the performance of the entire system in delivering customer value.

The full positioning of a brand—the full mix of benefits on which it is positioned.

Attaching value-added features and services to differentiate a company’s offers and charging higher prices.

Costs that vary directly with the level of production.

Consumer buying behavior in situations characterized by low consumer involvement but significant perceived brand differences.

A channel structure in which producers, wholesalers, and retailers act as a unified system. One channel member owns the others, has contracts with them, or has so much power that they all cooperate.

The digital version of word-of-mouth marketing: videos, ads, and other marketing content that is so infectious that customers will seek it out or pass it along to friends.

The form human needs take as they are shaped by culture and individual personality.

An off-price retailer that sells a limited selection of brand name grocery items, appliances, clothing, and other goods at deep discounts to members who pay annual membership fees.

Designing international channels that take into account the entire global supply chain and marketing channel, forging an effective global value delivery network.

A firm engaged primarily in wholesaling activities.

All the activities involved in selling goods and services to those buying for resale or business use.

The impact of the personal words and recommendations of trusted friends, family, associates, and other consumers on buying behavior.

Pricing in which the company sets up two or more zones. All customers within a zone pay the same total price; the more distant the zone, the higher the price.