The process of gathering information to learn about something that is not fully known.
PLC – Product Life Cycle
Used as a tool for depicting the concept that products go through several stages of "life" with each stage presenting the marketer with different challenges that must be met with different marketing approaches.
Mass Marketing (also Undifferentiated Marketing)
A target marketing strategy that assumes all customers in a large market seek the same benefits and, consequently, a marketer appeals to this market with a single marketing strategy including a single product.
Individual Product Branding
A branding strategy in which products are given brand names that are newly created and generally not connected to names of existing brands offered by the company.
e-tailers (also Electronic Retailers)
Retail format represented by retailers that confine most of their selling through Internet websites thus providing customers with the convenience of anytime shopping.
A form of sales promotion, mainly used in the consumer market, that awards something of value to winners based on skills they demonstrate compared to other consumers.
A component of the Total Product offered by the marketer, this represents goods and services that surround the Actual Product in order to provide additional value to the customer's purchase and include guarantees, warranties and training services.
A plan to collect information within a specific type of research method.
Name given to a method of delivery of audio and video programming that a user can download to a media devices, such as MP3 players or video player, thus allowing for playback on the user's own schedule.
A media relations tools used as part of public relations involving the submission of articles to media, such as newspapers and websites, as filler material when publications lacks sufficient content or as original content for publishers whose business model involves mostly third-party submissions.
The second category within the Diffusion of Innovation consisting of a sizeable though not large percentage of a market who are primarily characterized as being enthusiastic but practical about new products and often communicate their experiences with the next category (i.e., Early Majority) and in this way serve as Opinion Leaders.
Contractual Channel Arrangement
A type of dependent channel arrangement where a legal document obligates members to agree on how distribution occurs including identifying which activities each channel member is permitted to perform or not perform.
A type of warehouse that functions with advanced computer and robotics technology to automate storage activity.
Research method used to record information gathered during a research study that range from basic methods, such as a questionnaire that record participant responses to research questions, to highly advanced electronic measurement where respondents are connected to sophisticated equipment.
POP Display (also Point-of-Purchase Display)
A form of trade sales promotion that are generally found in retail outlets and allow products to be prominently presented thereby increasing the probability the product will standout.
Maturity Stage of PLC
Stage within the Product Life Cycle which occurs when product growth slows with total sales increasing but at decreasing rates compared to previous periods.