Term
|
Definition
| occurs when the charitable contributions of a firm are tied directly to the customer revenues produced through the promotion of one of its products |
|
|
Term
|
Definition
| The legal concept of "let the buyer beware" that was pervasive in the American business culture prior to the 1960s |
|
|
Term
|
Definition
| A formal statement of ethical principles and rules of conduct |
|
|
Term
|
Definition
| A law that codified the ethics of exchange between buyers and sellers, including the rights to safety, to be informed to choose, and to be heard |
|
|
Term
|
Definition
| The clandestine collection of trade secrets for proprietary information about a company's competitors |
|
|
Term
|
Definition
| the moral principles and values that govern the actions and decisions of an individual or group. |
|
|
Term
|
Definition
| marketing efforts to produce, promote, and reclaim environmentally sensitive products |
|
|
Term
|
Definition
| society's values and standards that are enforceable in the courts |
|
|
Term
|
Definition
| a personal moral philosophy that considers certain individual rights or duties as universal, regardless of the outcome |
|
|
Term
|
Definition
| a systematic assessment of a firm's objectives, strategies, and performance in terms of social responsibility |
|
|
Term
|
Definition
| the idea that organizations are part of a larger society and are accountable to that society for their actions |
|
|
Term
|
Definition
| conducting business in a way that protects the natural environment while making economic progress |
|
|
Term
|
Definition
| the recognition of the need for organizations to improve the state of people, the planet, and profit simultaneously if they are to achieve sustainable, long term growth |
|
|
Term
|
Definition
| a personal moral philosophy tht focuses on "the greatest good for the greatest number" by assessing the costs and benefits of the consequences of ethical behavior |
|
|
Term
|
Definition
| employees who report unethical or illegal actions of their employers |
|
|
Term
|
Definition
| the practice where a translated word or phrase is retranslated into the original language by a different interpreter to catch errors |
|
|
Term
|
Definition
| the difference between the monetary value of a nation's exports and imports |
|
|
Term
|
Definition
| the largest but poorest socioeconomic group of people in the world |
|
|
Term
|
Definition
| the tendency to believe that it is inappropriate, indeed immoral, to purchase foreign-made products |
|
|
Term
|
Definition
| the practice of using barter rather that money for making global sales |
|
|
Term
|
Definition
| the study of similarities and differences among consumers in two or more nations or societies |
|
|
Term
|
Definition
| things that represent ideas and concepts |
|
|
Term
|
Definition
| the price of one country's currency expressed in terms of another country's currency |
|
|
Term
|
Definition
| what is considered normal and expected about the way people do things in a specific country |
|
|
Term
|
Definition
| a global market-entry strategy that entails a domestic firm actually investing in and owning a foreign subsidiary or division |
|
|
Term
|
Definition
| when a firm sells a product in a foreign country below its domestic price or below its actual cost |
|
|
Term
| Economic Espionage Act(1996) |
|
Definition
| A law that makes the theft off trade secrets by foreign entities a federal crime in the United States |
|
|
Term
|
Definition
| a global market-entry strategy in which a company produces goods in one country and sells them in another country |
|
|
Term
| Foreign Corrupt Practices Act(1977) |
|
Definition
| A law, amended by the international Anti-dumping and fair competition Act (1998), that makes it a crime for US corporations to bribe an official of a foreign government or political party to obtain or retain business in a foreign country |
|
|
Term
|
Definition
| A brand marketed under the same name in multiple countries with similar and centrally coordinated marketing programs |
|
|
Term
|
Definition
| Exists when firms originate, produce, and market their products and services worldwide. |
|
|
Term
|
Definition
| consumer groups living in many countries or regions of the world who have similar needs or seek similar features and benefits from products or services. |
|
|
Term
| global marketing strategy |
|
Definition
| transnational firms that employ the practice of standardizing marketing activities when there are cultural similarities and adapting them when culture differ |
|
|
Term
|
Definition
| a situation where products are sold through unauthorized channels of distribution |
|
|
Term
| gross domestic product (GDP) |
|
Definition
| the monetary value of all goods and services produced in a country during one year |
|
|
Term
|
Definition
| a global market-entry strategy in which a foreign company and a local firm invest together to create a local business in order to share ownership, control, and profits of the new company |
|
|
Term
|
Definition
| the practice of offering small, collateral-free loans to individuals who otherwise would no have access to the capital necessary to begin small business or other income-generating activities |
|
|
Term
| multidomestic marketing strategy |
|
Definition
| multinational firms that have as many different product variations, brand names, and advertising programs as countries in which they do business |
|
|
Term
|
Definition
| the practice of shielding one or more industries within a county's economy from foreign competition through the use of tariffs or quotas |
|
|
Term
|
Definition
| a restriction placed on the amount of a product allowed to enter or leave a country |
|
|
Term
|
Definition
| a field of study that examines the correspondence between symbols and their role in the assignment of meaning for people |
|
|
Term
|
Definition
| Agreements among two or more independent firms to cooperate for the purpose of achieving common goals |
|
|
Term
|
Definition
| Government taxes on goods or services entering a country that primarily serve to raise prices on imports |
|
|
Term
|
Definition
| a society's personally or socially preferable modes of conduct or states of existence that tend to persist over time |
|
|
Term
|
Definition
| A permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions |
|
|
Term
|
Definition
| The variety of different product items a store carries |
|
|
Term
|
Definition
| an approach to managing the assortment of merchandise in which a manager is assigned the responsibility for selecting all products that consumers in a market segment might view as substitutes for each other, with the objective of maximizing sales and profits in the category. |
|
|
Term
| central business district |
|
Definition
| the oldest retail setting, usually located in the community's downtown area. |
|
|
Term
| community shopping center |
|
Definition
| a retail location that typically has one primary store (usually a department store branch) and often 20 to 40 smaller outlets, serving a population of consumers who are within a 10- to 20-minute drive |
|
|
Term
|
Definition
| the store carries a large assortment of each product item. |
|
|
Term
|
Definition
| distinguishes retail outlets based on whether individuals, corporate chains, or contractual systems own the outlet |
|
|
Term
|
Definition
| a form of scrambled merchandising, which consists of a large store (more than 200,000 square feet) that offers everything in a single outlet, eliminating the need for consumers to shop at more than one location. |
|
|
Term
|
Definition
| competition between very dissimilar types of retail outlets that results from a scrambled merchandising policy. |
|
|
Term
|
Definition
| the degree of service provided to the customer from three types of retailers: self-, limited-, and full service |
|
|
Term
|
Definition
| describes how many different types of products a store carries and in what assortment |
|
|
Term
|
Definition
| retailers that utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television, and online retailing. |
|
|
Term
|
Definition
| selling brand-name merchandise at lower than regular prices |
|
|
Term
|
Definition
| a huge shopping strip with multiple anchor (or national) stores |
|
|
Term
| regional shopping centers |
|
Definition
| consist of 50 to 150 stores that typically attract customers who live or work within a 5- to 10- mile range, often containing two or three anchor stores. |
|
|
Term
|
Definition
| the process of growth and decline that retail outlets, like products, experience. consists of the early growth, accelerated development, maturity, and decline stages. |
|
|
Term
| retail positioning matrix |
|
Definition
| a matrix that positions retail outlets on two dimensions: breadth of product line and value added, such as location, product reliability, or prestige |
|
|
Term
|
Definition
| all activities involved in selling, renting, and providing products and services to ultimate consumers for personal, family, or household use. |
|
|
Term
|
Definition
| the activities related to managing the store and the merchandise in the store, which includes retail pricing, store location, retail communication, and merchandise |
|
|
Term
|
Definition
| offering several unrelated product lines in a single store |
|
|
Term
|
Definition
| A cluster of neighborhood stores to serve people who are within a 5- to 10- minute drive |
|
|
Term
|
Definition
| using the telephone to interact with and sell directly to consumers |
|
|
Term
|
Definition
| a concept that describes how new forms of retail outlets enter the market |
|
|
Term
|
Definition
| any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor. |
|
|
Term
| all-you-can-afford budgeting |
|
Definition
| allocating funds to promotion only after all other budget items are covered |
|
|
Term
|
Definition
| the means (a salesperson, advertising media, or public relations tools) of conveying a message to receiver during the communication process. |
|
|
Term
|
Definition
| the process of conveying a message to others that requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding. |
|
|
Term
| competitive parity budgeting |
|
Definition
| allocating funds to promotion by matching the competitor's absolute level of spending or the proportion per point of market share. |
|
|
Term
|
Definition
| the process of having the receiver take a set of symbols, the message, and transform them back to an idea during the communication process |
|
|
Term
|
Definition
| a promotion alternative that uses direct communication with consumers to generate a response in the form of an order, a request for further information, or a visit to a retail outlet. |
|
|
Term
|
Definition
| the result of direct marketing offers that contain all the information necessary for a prospective buyer to make a decision to putchase and complete the transaction. |
|
|
Term
|
Definition
| the process of having the sender transform an idea into a set of symbols during the communication process |
|
|
Term
|
Definition
| in the feedback loop, the sender's interpretation of the response, which indicates whether the message was decoded and understood as intended during the communication process. |
|
|
Term
|
Definition
| a mutually shared understanding and knowledge that the sender and receiver apply to the message so that it can be communicated effectively during the communication process. |
|
|
Term
|
Definition
| the sequence of stages a prospective buyer goes through from initial awareness of a product to eventual action (either trial or adoption of the product). the stages include awareness, interest, evaluation, trial, and adoption. |
|
|
Term
| integrated marketing communications |
|
Definition
| teh concept of designing marketing communications programs that coordinate all promotional activities-advertising, personal selling, sales promotion, public relations, and direct marketing - to provide a consistent message across all audiences. |
|
|
Term
|
Definition
| the result of a direct marketing offer designed tp generate interest in a product or service and a request for additional information. |
|
|
Term
|
Definition
| the information sent by a source to a receiver during the communication process |
|
|
Term
|
Definition
| extraneous factors that can work against effective communication by distorting a message or the feedback received during the communication process |
|
|
Term
| objective and task budgeting |
|
Definition
| allocating funds to promotion whereby the company: (1) determines its promotion objectives ; (2) outlines the tasks to accomplish these objectives; and (3) determines the promotion cost of performing these tasks |
|
|
Term
| percentage of sales budgeting |
|
Definition
| allocating funds to promotion as a percentage of past or anticipated sales, in terms of either dollars or units sold. |
|
|
Term
|
Definition
| the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
|
|
Term
|
Definition
| the combination of one or more communication tools used to: (1) inform prospective buyers about the benefits of the product, (2) persuade them o try it, and (3) remind them later about the benefits they enjoyed by using the product |
|
|
Term
|
Definition
| a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers, prospective customers, stockolders, suppliers, employees, and other publics about a company and its products or services |
|
|
Term
|
Definition
| a nonpersonal, indirectly paid presentation of an organization, good, or service |
|
|
Term
|
Definition
| directing the promotional mix at ultimate consumers to encourage them to ask the retailer for a product |
|
|
Term
|
Definition
| directing the promotional mix to channel members to gain their cooperation in ordering and stocking the product |
|
|
Term
|
Definition
| consumers who read, hear, or see the message sent by a source during the communication process |
|
|
Term
|
Definition
| in the feedback loop, the impact the message had on the receiver's knowledge, attitudes, or behaviors during the communication process |
|
|
Term
|
Definition
| a short-term inducement of value offered to arouse interest in buying a good or service |
|
|
Term
|
Definition
| a company or person who has information to convey during the communication process |
|
|
Term
|
Definition
| the outcome of a direct marketing offer designed to motivate people to visit a business |
|
|
Term
|
Definition
| any paid form of nonpersonal communication about an organization, good, service, or idea by an identified sponsor |
|
|
Term
| consumer-oriented sales promotion |
|
Definition
| sales tools used to support a company's advertising and personal selling directed to ultimate consumers |
|
|
Term
|
Definition
| advertising programs by which a manufacturer pays a percentage of the retailer's local advertising expense for advertising the manufacturer's products |
|
|
Term
|
Definition
| the cost of reaching 1,000 individuals or households with the advertising message in a given medium |
|
|
Term
|
Definition
| the average number of times a person in the target audience is exposed to a message or an advertisement |
|
|
Term
|
Definition
| an advertising agency that provides the most complete range of services, including market research, media selection, copy development, artwork, and production |
|
|
Term
|
Definition
| a reference number used by advertisers that is obtained by multiplying reach (expressed as a percentage of the total market) by frequency |
|
|
Term
|
Definition
| program-length (30 minute) advertisements that take an educational approach to communication with potential customers |
|
|
Term
|
Definition
| consist of the company's own advertising staff, who may provide full services or a limited range of services |
|
|
Term
| institutional advertisements |
|
Definition
| advertisements designed to build goodwill or an image for an organization rather than promote a specific good or service |
|
|
Term
|
Definition
| advertising agencies that specialize in one aspect of the advertising process, such as providing creative services to develop the advertising copy, buying previously unpurchased media space, or providing Internet service |
|
|
Term
|
Definition
| tests conducted after an advertisement has been shown to the target audience to determine whether it accomplished its intended purpose |
|
|
Term
|
Definition
| tests conducted before an advertisement is placed in any medium to determine whether it communicates the intended message or to select among alternative versions of the advertisement |
|
|
Term
|
Definition
| advertisements that focus on selling a good or service and which take three forms: (1) pioneering (informational) (2) competitive (persuasive) and (3) reminder |
|
|
Term
|
Definition
| a consumer sales promotion tool that uses a brand name product in a movie, television show, video game, or a commercial for another product |
|
|
Term
|
Definition
| methods of obtaining nonpersonal presentation of an organization, good, or service without direct cost, such as new releases, news conferences, and public service announcements |
|
|
Term
|
Definition
| the percentage of households in a market that are tuned to a particular TV show or radio station |
|
|
Term
|
Definition
| the number of different people or households exposed to an advertisements |
|
|
Term
| trade-oriented sales promotions |
|
Definition
| sales tools used to support a company's advertising and personal selling distributors, or retailers |
|
|
Term
| account management policies |
|
Definition
| specifies whom sales people should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out |
|
|
Term
|
Definition
| a need-satisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information |
|
|
Term
|
Definition
| a need-satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution |
|
|
Term
|
Definition
| the ability to understand one's own emotions and the emotions of people with whom one interacts on a daily basis |
|
|
Term
| formula selling presentation |
|
Definition
| a presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect |
|
|
Term
|
Definition
| the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships |
|
|
Term
| need-satisfaction presentation |
|
Definition
| a presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers |
|
|
Term
|
Definition
| sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers' use of a product or service |
|
|
Term
|
Definition
| processes routine orders or reorders for products that were already sold by the company |
|
|
Term
|
Definition
| the practice whereby buyers and sellers combine their expertise and resources to create customized solutions, commit to joint planning, and share customer, competitive, and company information for their mutual benefit, and ultimately the customer |
|
|
Term
|
Definition
| the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision |
|
|
Term
|
Definition
| sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting (2) preapproach (3) approach (4) presentation (5) close and (6) follow-up |
|
|
Term
|
Definition
| the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time |
|
|
Term
|
Definition
| planning the selling program and implementing and evaluating the personal selling effort of the firm |
|
|
Term
|
Definition
| a statement describing what is to be achieved and where and how the selling effort of sales people is to be deployed |
|
|
Term
|
Definition
| specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated time period. |
|
|
Term
|
Definition
| the use of computer, information, communication, and Internet technologies to make the sales function more effective and efficient |
|
|
Term
| stimulus-response presentation |
|
Definition
| a presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy |
|
|
Term
|
Definition
| the practice of using an entire team of professionals in selling to and servicing major customers |
|
|
Term
|
Definition
| a formula-based method for determining the size of a salesforce that integrates the number of customers served, call frequency, call length, and available selling time to arrive at a figure for the salesforce size |
|
|
