Essential Marketing Terms and Techniques
Flat Rate Pricing
The price of items remains constant regardless of the quantity purchased. This is common in industrial markets.
Fluctuating Demand
Variations in the demand for a product or service, typical in industrial markets.
Market Futures
Contracts for purchasing goods or securities at current prices, similar to stock market shares.
Frequency Marketing
Rewarding frequent customers with benefits and incentives.
Freelance Workers
Journalists or writers who contribute to publications without being staff members.
Primary Sources
First-hand information sources through surveys, observation, or experimentation.
Secondary Sources
Information sources for market research, not specifically created for that purpose, such as censuses.
Full Demand
Consumer purchases align with company production and planning.
Functional Marketing Organization
Grouping all marketing activities within a single department under one responsibility.
Geographic Segmentation
Using customer location for market segmentation.
Geographic Concentration
Limiting sales and promotions to a specific geographic area.
Gift with Purchase
Offering a gift with the purchase of a specific product.
Free Magazines
Publications supported by advertising revenue, distributed free of charge.
Globalization
The instantaneous global impact on social, economic, and financial spheres, driven by information technology, communications, and mass media.
Goods on Consignment
Goods delivered to wholesalers or retailers with delayed payment terms (60-90 days).
Government Market
Public institutions as clients (state, municipalities, regions, etc.).
Discussion Sessions
Open forums for discussing company progress, promotional strategies, wages, incentives, etc.
Grocery Stores
Retail establishments selling primarily food and household supplies.
Guerrilla Marketing
Strategies employed by small companies to gain market share from larger competitors by targeting niche segments.
Hard Goods
Durable, tangible products, often non-perishable.
Aggressive Sales
Promoting a product intensely to raise awareness.
Intensive Users
Frequent and habitual users of a product, often the focus of loyalty efforts.
Hierarchy of Needs
Physiological (hunger, thirst), safety (shelter, protection), social (love, belonging), esteem (self-esteem, status), and self-actualization.
High-Involvement Media
Media requiring active public participation, such as print.
High-Involvement Products
Significant purchases requiring extensive buyer involvement, like cars.
Aggressive Sales Techniques
Used for products like insurance and encyclopedias.
Company Image
Public perception of a company, influencing product sales.
Brand Image
Qualities consumers associate with a brand name.
Desired Image
The perception a company aims to project through promotional messages.
Image Advertising
Selling a product by creating an image rather than focusing on attributes.
Image Communication
Strategies to convey a product’s image through symbols, environment, and events.
Image-Based Pricing
Discriminatory pricing based on product presentation.
Sales Impact
The effect of sales efforts on the target audience.
Advertising Impacts
Measuring effectiveness based on the number of impacts and the medium.
Impressions
Total individuals or households exposed to an advertisement in any medium.
Excise Tax
Taxes on specific products like tobacco, alcohol, and oil derivatives.
Impulse Purchase
Unplanned purchases, potentially deviating from normal behavior, associated with certain personality profiles.