Factors considered outside the control of marketers but that potentially influence marketing decision-making and include demographics, economic conditions, governmental environment, influential stakeholders, cultural and social change, innovation and competitors.
A repository of answers to commonly asked questions, product instructions or other information that customers may access online or over the phone.
Multi-Channel System (also Hybrid System)
A distribution design where a marketer uses a combination of direct and indirect distribution systems.
A type of warehouse owned and operated by channel suppliers or resellers and used as part of their distribution activities.
Promotional methods using short-term techniques to persuade members of a target market or distribution channel, generally through an incentive, to respond or undertake certain activity.
A forecasting tool used by marketers that considers product price, fixed cost and variable costs in order to determine the minimum sales volume required before a company realizes a profit.
A cost pricing method used to set a product's initial price that is used in association with Breakeven Analysis and the determination of minimum sales levels needed at different pricing points in order for a company to cover fixed costs.
Exploratory Market Research
Marketing research method that uses a less structured and often less scientific approach to discover general information about a topic that is not well understood by the marketer.
A component of the internal influences on consumer buying behavior that represents the sum of all information known by a person.
A cost pricing method used to set a product's initial price by applying a fixed monetary amount to the cost of the product.
Private Branding (also Store Branding)
A branding strategy, often seen in the retail industry, where stores or online sellers contract with suppliers to manufacture the retailer's own branded products.
A person or organization exhibiting key characteristics that suggest to a salesperson that further information gathering is warranted in order to determine (i.e., qualify) whether they are a sales prospect.
Involves marketing decisions that have the objective of establishing an identity for a product using brand names, symbols and other distinctive measures with the goal of distinguishing the product from those offered by competitors.
Metric for assessing advertising expenditure determined by dividing the total cost for a certain advertisement by the percentage of an audience who experience the advertisement (e.g., seen, heard) are actually within the marketer's target market.
Method of data collection that falls within the category of Causal Research in which one variable, called the independent variable, is manipulated to see how it may affect another variable, called the dependent variable.
A customer contact point consisting of standalone, interactive computers offering customers the ability to handle their own service options including gaining product information, making purchases, and reviewing customer account details.