Development Stage of PLC
Stage within the Product Life Cycle which occurs before a product is introduced to the market and is principally a time for honing the product offering and preparing the market for the product.
Consists of the strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer.
A key element of a target marketing strategy in which large markets, where customers possess different characteristics, is divided into smaller market segments in which customers are grouped by characteristic shared by others in the segment.
Groups outside an organization that provide services, support or, in other ways, impact the company.
Public Service Advertising
A type of advertising run by not-for-profit organizations that concern issues viewed as for the "greater good" of society and, in many cases, delivered free-of-charge through media outlets.
Actionable steps or decisions made in order to follow the strategies established.
A branding strategy where a marketer with its own brand seeks to partner with an established brand owned by another organization in hopes the synergy of the two brands is even more powerful than a single brand alone.
Descriptive Market Research
Generally considered the most popular form of market research, this research method has the objective of providing an accurate description for something that is occurring (e.g., monthly sales volume, customer preference).
Generic Branding (also No-Name Branding)
A branding strategy, common to commodity products, that essentially creates a brandless product offering basic product features and low price.
A smaller part of a larger market consisting of customers grouped (i.e., segmented) by characteristic shared by others in their group.
A category within personal selling that includes salespeople who primarily assist customers with a purchase in ways that are much less assertive than salespeople who serve as Order Getters and includes sub-categories Clerks (retail and industrial) and Customer Service Personnel.
Public Relations (also Publicity, PR)
A method of promotion that involves the use of a variety of communications channels and tools in an effort to cultivate favorable relations with key publics, particularly the news media, with the objective of gaining favorable mentions of the marketer's company or product without direct payment to the publisher of the information.
A form of sales promotion, mainly used in the consumer market, that awards something of value to winners not based on skill but rather based on luck and, in general, through random selection.
A type of warehouse that handles storage of products requiring special handling conditions such as refrigeration for perishable products and humidity-controlled environments for delicate products such as flowers.
Descriptive Data Analysis
Refers to techniques for analyzing research data in which results are presented, often using charts or tables, as a summary of what has been gathered without making a statement of whether the results hold up to statistical evaluation.
A category within the products carried classification of retailers that includes retailers who carry a wide range of product lines though the number of different items within a particular product line is generally limited.