- PDM
abbrev. Physical Distribution Management; Product-Differentiated Marketing.
- PERT
acronym for Progam Evaluation and Review Technique; a quantitative technique used as a managerial to ... more
- PLC
abbrev. Product Life Cycle
- POP
abbrev. Point of Purchase.
- POSSLQ
abbrev. Persons of Opposite Sex Sharing Living Quarters; sometimes written as POSLSQ - Persons of Op ... more
- PR
abbrev. Public Relations.
- Package
the wrapping, packet, carton, bottle, box, etc, used for containment, protection or promotion of a p ... more
- Package Modification
making any change to the attributes (shape, colour, size, graphics, lettering, etc.) of a package.
- Packaged Goods
a sub-category of consumer non-durable goods; toothpaste, shampoo and soap powder are packaged consu ... more
- Packaging
the materials (glass, aluminium, cardboard, etc) originally intended merely to contain and protect a ... more
- Palletisation
the packing of goods on to small wooden platforms, or pallets, for ease of handling in shipment.
- Panel Test
a technique used to pre-test advertising, new products, etc; a group of individuals selected from th ... more
- Parasitic Advertising
advertising by one group which has an adverse effect upon another group. For example, the advertisin ... more
- Pareto's Principle
the idea or notion in business, commonly known as 'the 80:20 rule', which says that eighty per cent ... more
- Paretopoly
a market situation in which there are a few large sellers and many smaller ones.
- Paretopsony
a market situation in which there are a few large buyers and many smaller ones.
- Parity Product
- Pass-Along Deal
A seller's offer in which an item of value such as a price reduction, gift, premium, coupon, etc., i ... more
- Pass-Up Method
handling a buyer's objection by attempting to ignore or 'pass off' the buyer's objection, especially ... more
- Payback Period
the time taken for a new product to recover its investment cost and to generate profits; used as a m ... more
- Penetrated Market
the individuals or organisations in a particular market who have already purchased the product.
- Penetration Pricing
see Market Penetration Pricing.
- People-Based Services
services in which people, rather than equipment or machinery, play the major role in delivery; for e ... more
- Per Capita Income
average income per person in a population.
- Per Diem Expense Plan
the payment of travel and accommodation expenses to a salesperson at a fixed daily rate.
- Perceived Risk
see Risk.
- Percentage-of-Sales Method
a method of setting a budget for promotion in which the sum to be expended in a given period is a fi ... more
- Perception
the way in which an individual interprets stimuli received by the senses.
- Perceptual Mapping
a tool or process used in marketing research for charting the way individuals selected from the targ ... more
- Perfect Competition
see Pure Competition.
- Performance Allowance
a discount or price reduction given to a wholesaler or retailer who promises to perform some additio ... more
- Performance Appraisal
an evaluation of the activities and effectiveness of a salesperson, marketing officer, etc during a ... more
- Performance Price
the value to a consumer of the time saved by using a new product to complete a specified task; the p ... more
- Performance Risk
concern in the buyer's mind that the product being considered for purchase will not work efficiently ... more
- Perishability
one of the four characteristics (with inseparability, intangibility and variability) which distingui ... more
- Person Marketing
marketing activity aimed at creating target market awareness, and a favourable opinion, of a particu ... more
- Personal Income
the wages, salary, etc. earned by an individual.
- Personal Interview
a face-to-face meeting with a client, job applicant, buyer, marketing research respondent, etc.
- Personal Selling
a form of promotion utilising the services of a sales team; one of the major controllable variables ... more
- Personality
the distinctive character of an individual; used as a basis for the psychographic segmentation of a ... more
- Personality Segmentation
the division of a heterogeneous market into homogeneous groups on the basis of personality character ... more
- Persuasive Advertising
advertising intended to persuade (rather than to inform or remind).
- Phantom Freight
a freight charge imposed upon a customer in excess of the true freight cost incurred by the supplier ... more
- Physical Distribution
the storage, handling and movement of goods within an organisation and their shipment to customers.
- Physical Distribution Management
the management and control of the activities involved in the storage, handling and movement of goods ... more
- Physical Risk
concern in the buyer's mind that the product being considered for purchase will be harmful, unhealth ... more
- Physiological Needs
innate human feelings of deprivation related to an individual's biological well-being.
- Piggyback
a system of transportation requiring the transfer of containers from truck to rail.
- Piggybacking
a low-cost market entry tactic in which manufacturers of products arrange for manufacturers of compl ... more
- Pioneering Advertising
advertising which is intended to create primary rather than selective demand; commonly used at the i ... more
- Pipeline Transportation
the carriage, delivery or shipment of a gas or liquid product by pipeline.
- Place
one of the four controllable variables (with product, price and promotion) of the marketing mix; the ... more
- Place Marketing
marketing activity intended to promote an awareness, and favourable opinion, of a particular place o ... more
- Place Strategy
the element of a firm's decision-making concerned with developing an efficient and effective means o ... more
- Place Utility
the value given to a product by virtue of the fact that it is where it is wanted.
- Plain Vanilla
slang term for a product with only the most basic features.
- Planned Buying vs. Unplanned Buying
Planned buying is purchasing activity undertaken with a problem previously recognized and a buying i ... more
- Planned Cannibalisation
the expected loss of sales of a product in a line to a more recent product introduction; planned can ... more
- Planned Economy -
also called Controlled Allocation System; Command System.
- Planned Obsolescence
a tactic by which a manufacturer deliberately seeks to make earlier versions of its product appear u ... more
- Planning
see Strategic Planning; Marketing Planning; Sales Planning.
- Planning Horizon
the total timespan covered by a firm's marketing plans; the length of the planning horizon is common ... more
- Point-of-Purchase Displays
a form of promotion used to support personal selling and advertising; displays, consisting of packag ... more
- Polycentric Orientation
The unconscious bias or belief that it is necessary to adopt totally to local culture and practice. ... more
- Polyopoly
a market situation in which there are no large sellers but many small ones.
- Polyopsony
a market situation in which there are no large buyers but many small ones.
- Population
in marketing research, the total group that a researcher wishes to study; also called the Universe.
- Population Characteristics
variables including age, gender, income, marital status, education, nationality, race, religion, etc ... more
- Porter, Michael
- Portfolio Analysis
the systematic evaluation or assessment of a company's businesses or products; two variables frequen ... more
- Portfolio Tests
a method of pre-testing an advertisement; after looking through a portfolio of different versions of ... more
- Position Mapping
see Perceptual Mapping.
- Positioning
see Market Positioning
- Possession Utility
the value given to a product by virtue of the fact that the purchaser has the legal right to own and ... more
- Post-Purchase Evaluation
the quick mental assessment of a low-involvement product by a consumer after purchase.
- Post-Purchase Satisfaction
the pleasure that a carefully selected high-involvement product gives to a consumer after purchase.
- Postage Stamp Pricing
see Uniform Delivered Pricing.
- Poster
an outdoor advertising medium; a billboard.
- Potential Market
all the individuals and organisations in a particular market who have some level of interest in the ... more
- Potential Product
- Pre-Approach Stage
the first stage in the selling process; the stage in which a salesperson prospects for new accounts, ... more
- Pre-Testing
the testing of a questionnaire, advertisement, etc on respondents selected from the target market be ... more
- Pre-Ticketing
the practice by a vendor of placing a tag on each product sold listing its particular style, size, c ... more
- Predatory Pricing
a pricing practice by which a company hopes to inhibit or eliminate competition by charging lower th ... more
- Premium Pricing
see High-Price Strategy.
- Premiums
a type of sales promotion in which merchandise is given free or at a reduced price to purchasers of ... more
- Press Conference
a meeting to which media personnel are invited by a government body, organisation or company seeking ... more
- Press Party
The convening of representatives of the media at a social event to distribute information or materia ... more
- Press Release
an announcement released to the news media by a government body, organisation or firm, usually to ob ... more
- Pressure Group
any group of individuals who work together to exert an influence upon the decision-making of a compa ... more
- Pressure Selling
see High Pressure Selling.
- Prestige Builder
the highest-priced item in a product line.
- Prestige Pricing
a pricing strategy in which prices are set at a high level, recognising that lower prices will inhib ... more
- Prestige Products
items of superior quality; high status merchandise.
- Price
the value agreed upon by the buyer and the seller in an exchange; one of the four controllable varia ... more
- Price Adjustments
allowances, discounts, etc. granted by a seller to meet the requirements or circumstances of specifi ... more
- Price Band
the range within which a product can be priced as dictated by competitive intensity and the perceive ... more
- Price Brand
see Fighting Brand.
- Price Bundling
a pricing strategy in which various products sold to a customer together are offered at a price less ... more
- Price Ceiling
A price, usually imposed by law, above which market prices are not permitted to rise; also called a ... more
- Price Competition
a competitive situation in which price is used as the major means of differentiating the product of ... more
- Price Cycle
the regular, periodic fluctuation in the price of a product, especially of an agricultural product, ... more
- Price Discounting
see Discount.
- Price Discrimination
a pricing strategy, generally illegal, in which a seller charges different prices to marketing inter ... more
- Price Elasticity
buyers' sensitivity to price; measured by the percentage change in quantity demanded that results fr ... more
- Price Fixing
agreement or collusion between competitors to maintain certain fixed price levels to avoid competiti ... more
- Price Floor
A price, usually imposed by law, below which market prices are not permitted to floor; also called a ... more
- Price Gouging
a monopolistic pricing technique in which the seller takes advantage of the lack of competition by c ... more
- Price Incentives
a common form of sales promotion in which price reductions are offered to consumers to encourage the ... more
- Price Inelasticity
buyers' insensitivity to price; when the percentage change in quantity demanded is less than the per ... more
- Price Leader
a firm whose prices set a lead for other firms in the industry to follow.
- Price Leadership
a situation which occurs when one or a few companies, usually larger companies, are consistently the ... more
- Price Lining
pricing different products in a product line at various price points, depending on size and features ... more
- Price Objection
an objection raised by a prospective buyer on the grounds of price, credit terms, discounts, allowan ... more
- Price Packs
a type of sales promotion in which consumers are offered a reduction in the regular price of a produ ... more
- Price Sensitivity
see Price Elasticity.
- Price Space
the price difference between items in a product line; having the right amount of price space is ofte ... more
- Price Wars
a conflict situation likely to occur in industries where products cannot be greatly differentiated; ... more
- Price-Elastic Segments
segments of the market which are more responsive to price changes than other segments of the market.
- Price-Taker
any firm which is unable to influence the general level of commodity prices by altering the quantity ... more
- Price-Value Relationship
the connection that consumers make between price and quality; products with a higher price are commo ... more
- Pricing
marketing activity concerned with the setting of prices for new products and the adjustment of price ... more
- Pricing Strategy
the element of a firm's decision-making concerned with the setting of prices that will attract the t ... more
- Primary Advertising
advertising intended to create demand for a class or category of product rather than for a brand.
- Primary Data
information that is obtained directly from first-hand sources by means of surveys, observation or ex ... more
- Primary Demand
demand for a product class rather than for a particular brand within the class.
- Primary Packaging
a product's immediate container or wrapper.
- Principle of Integrating Interests
a technique used in selling in which the salesperson, knowing the buyer's personal interests or buyi ... more
- Print Campaign
- Private Brand
a brand owned by a wholesaler or retailer; also called a private label.
- Private Carrier
any form of transport operated by an independent organisation and used for the shipment of goods.
- Private Label
see Private Brand.
- Private Treaty
a market agreement arranged by a buyer and seller in private negotiation.
- Privatisation
- Proactive Marketing Strategies
marketing activites which anticipate competitive action and attempt to forestall it; offensive strat ... more
- Probabilistic Models
a statistical tool in which the probability that an event will occur again is estimated using histor ... more
- Probability Mixture Model
A stochastic model for representing the behavior (e.g., brand choice or media viewing) of a set of i ... more
- Probability Sample
a sample in which each individual within a total population has a known chance of being chosen.
- Problem Children
see Question Marks.
- Problem Situation Model
a model of a problem situation faced by a decision-maker, constructed (often by a marketing research ... more
- Problem-Solving Approach
an approach to selling in which the salesperson works with the buyer to evaluate alternative solutio ... more
- Process Materials
a classification of goods bought by organisations for incorporation into a product; the process mate ... more
- Procurement Costs
the costs involved in reordering an inventory item; the costs include the cost of processing and tra ... more
- Product
a bundle of need-satisfying tangible and intangible attributes offered to a buyer by a seller.
- Product Advertising
advertising in which a company promotes a particular good or service.
- Product Attributes
distinctive tangible and intangible features of a product that give it its value to a user.
- Product Audit
a systematic appraisal of a firm's product mix to evaluate its strengths and weaknesses and to asses ... more
- Product Category
the specific generic to which a good or service belongs; for example, while Fanta is a brand name, t ... more
- Product Concept
see Product Orientation.
- Product Depth (of Line)
see Product Line Length.
- Product Development
a growth strategy in which the firm develops new products for existing markets.
- Product Development Process
System of defined steps and tasks such as strategy, organization, concept generation, marketing plan ... more
- Product Differentiation
a strategy which attempts (through innovative design, packaging, positioning, etc.) to make a clear ... more
- Product Differentiation Advantage
- Product Elimination
the decision to drop a product (for example, in the decline stage of its life cycle) in order to use ... more
- Product Extension
the introduction of a product that is known to the company but which has features or dimensions whic ... more
- Product Failure
a product that does not meet management expectations in the marketplace.
- Product Flanking
a competitive marketing strategy in which a company produces its brands in a variety of sizes and st ... more
- Product Form Competitors
firms offering slightly different variants of the same basic product.
- Product Item
a product variant with its own distinctive attributes (price, packaging, etc.); also called a Stock- ... more
- Product Knowledge
detailed knowledge of a product's features and benefits required by a salesperson to persuade a pros ... more
- Product Leveraging
see Brand Leveraging.
- Product Liability
the onus or responsibility imposed by legislation on a manufacturer to warn consumers appropriately ... more
- Product Life Cycle
a concept which draws an analogy between the span of a human life and that of a product, suggesting ... more
- Product Line
a group of products manufactured or distributed by an organisation, similar in the way they produced ... more
- Product Line Brand Name
a brand name applied to several products within a product line.
- Product Line Expansion Segmentation Strategy
one of four possible segmentation strategies (with concentrated segmentation strategy, market segmen ... more
- Product Line Extension
adding depth to an existing product line by introducing new products in the same product category; p ... more
- Product Line Featuring
a strategy in which certain items in a product line are given special promotional attention, either ... more
- Product Line Filling
introducing new products into a product line at about the same price as existing products.
- Product Line Length
the number of different products in a product line.
- Product Line Manager
see Category Manager.
- Product Line Modernisation
a strategy in which items in a product line are modified to suit modern styling and tastes and re-la ... more
- Product Line Pruning
reducing the depth of a product line by deleting less profitable offerings in a particular product c ... more
- Product Line Retrenchment
reducing the width of a product mix by decreasing the diversity of items offered across product cate ... more
- Product Line Stretching
introducing new products into a product line.
- Product Management System
a system which ensures that total marketing control of a product line or brand rests with the person ... more
- Product Manager
an individual given responsibility for the planning and co-ordinating of a firm's marketing activiti ... more
- Product Mix
the variety of distinct product lines and items manufactured or distributed by an organisation.
- Product Mix Consistency
the degree of closeness or relatedness between product lines in the product mix.
- Product Mix Width
the number of distinct product lines manufactured or distributed by an organisation.
- Product Modification
any substantial change made to the attributes (size, shape, colour, style, price, etc.) of a product ... more
- Product Objection
an objection by a prospective buyer to the quality or characteristics of the goods offered by a sale ... more
- Product Organisation
the deployment of a firm's sales force or the organisation of its marketing activities so that a sep ... more
- Product Orientation
a management philosophy, concept, focus or state of mind which emphasises the quality of the product ... more
- Product Petrification
a term used to describe the small but persistent demand by loyal customers for a declining product.
- Product Portfolio
the mix of products manufactured or distributed by a company.
- Product Portfolio Analysis
an examination of each of the products manufactured or distributed by the company to assess future m ... more
- Product Position Map
a tool used in comparing consumer perception of the differences between products or brands; consumer ... more
- Product Positioning
see Market Positioning.
- Product Positioning Strategy
marketing decisions and actions intended to create a particular place for a product in the market an ... more
- Product Recall
the advertised request by a company that a product be returned to it by those who have already purch ... more
- Product Strategy
the element of a firm's decision-making concerned with developing the most appropriate products for ... more
- Product Testing
exposing consumers to a new product, in final or prototype form, so that they might compare it to th ... more
- Product Variant
see Product Item.
- Product Warranty
see Warranty; Express Warranty; Implied Warranty.
- Product-Based Competitors
see Product Form Competitors.
- Product-Based Marketing Organisation
a marketing structure of an organisation in which staff specialists have responsibility for various ... more
- Product-Differentiated Marketing
a marketing philosophy in which the seller views the market as a homogeneous whole, but produces two ... more
- Product-Push Approach
an approach to the generation of new product ideas in which a company's strengths rather than market ... more
- Production Goods
a classification of industrial goods; goods purchased by industrial firms for use in the manufacture ... more
- Production Orientation
a management philosophy, concept, focus or state of mind which emphasises production techniques and ... more
- Profit Centre
a division of an organisation with responsibility for generating its own income, and with accountabi ... more
- Profit Maximisation
see Current Profit Maximisation.
- Profit Objective in Pricing
setting prices with short-run profits rather than long-term market share in mind.
- Profit Sharing
a compensation system in which employees are awarded a share of the company's profits to encourage i ... more
- Profit and Loss Statement
an accounting statement showing income, expenditure and profit over a given period.
- Profitability Control
marketing effort intended to assess the level of profitability of each product in the portfolio, of ... more
- Progressive Commission
a sales commission system in which the commission rate increases as the salesperson sells more goods ... more
- Promotion
one of the four controllable variables (with product, price and place) of the marketing mix.
- Promotion Manager
an individual within an organisation responsible for promotional activities and campaigns.
- Promotion Mix
the range of means available to an organisation for communication with its target market - advertisi ... more
- Promotional Adaptation
a strategy in which the same product is sold in different geographic locations but with a unique pro ... more
- Promotional Allowance
a price reduction or discount granted by a manufacturer to a member of the marketing channel in retu ... more
- Promotional Budget
the sum allocated in a particular accounting period for expenditure on promotion.
- Promotional Campaign
a coordinated series of promotional efforts built around a single theme and designed to achieve a sp ... more
- Promotional Partnership
an alliance between a manufacturer of a product and another company for the purposes of promotion; f ... more
- Promotional Pricing
the temporary pricing of goods and services at lower than normal levels for a special promotional ef ... more
- Promotional Stock
merchandise offered at a reduced price to a reseller for some special promotion or festive occasion; ... more
- Promotional Strategy
the element of a firm's decision-making concerned with choosing the most appropriate mix of advertis ... more
- Promotional Warranty
a warranty designed to reduce the perceived financial or performance risk that a consumer might perc ... more
- Prospect
a potential customer.
- Prospecting
the first step in the selling process; the activity of seeking out potential customers.
- Prospecting Plan
a systematic approach to finding new customers involving the setting aside of time after allowing fo ... more
- Prosperity
Stage in an economic cycle in which conditions of relatively low-unemployment and high total ... more
- Protectionism
Trade policies of governments aimed at protecting domestic industries by limiting the volume of impo ... more
- Protective Warranty
see Warranty; Express Warranty; Implied Warranty; Promotional Warranty.
- Prototype
a sample or early version of a new product made or built specifically for trialling and testing.
- Prototype Testing
the trialling of a sample of a newly developed product on selection of customers from the target mar ... more
- Proxemic Communication
a form of nonverbal communication or body language in which messages are conveyed from one person to ... more
- Proximo Dating
This specifies the date in the following month on which payment must be made in order to take the ca ... more
- Psychoanalytic Theory
A psychological theory developed by Sigmund Freud that emphasizes unconscious motivation.
- Psychodrama
a qualitative marketing research technique in which respondents are asked to engage in impromptu rol ... more
- Psychodrawing
a nonverbal, qualitative marketing research technique in which respondents use colours, shapes, symb ... more
- Psychographic Segmentation
the division of a heterogeneous market into relatively homogeneous groups on the basis of their atti ... more
- Psychography
the study of the attitudes, beliefs, opinions, personalities and lifestyles of individuals in a popu ... more
- Psychological Discounting
the advertising of a product at a heavily reduced price, as in 'Was $49.95, now only $35.00'; the pr ... more
- Psychological Needs
innate human feelings of deprivation related to an individual's mental well-being.
- Psychological Pricing
pricing intended to influence the customers' perception of the actual price of a product; two common ... more
- Psychological Repositioning
the attempt by a firm to alter the beliefs of prospective buyers about the key attributes of its pro ... more
- Psychological Risk
see Risk; Emotional Risk.
- Psychological Set
a consumer's mind set; his or her positive or negative feelings or predispositions towards a particu ... more
- Public Policy Environment
that part of a firm's external environment which consists of controversial issues or matters of conc ... more
- Public Relations
the relationship which exists between an organisation and its several publics; efforts to influence ... more
- Publicity
corporate or product promotion that is obtained free of charge.
- Publics
the various groups in a society which can influence or bring pressure to bear upon a firm's decision ... more
- Puffing
the legitimate practice of making obviously exaggerated claims in advertising, eg. 'cleaner than cle ... more
- Pull Strategy
promotion to end-users (mainly by means of advertising, sales promotion and publicity) rather than t ... more
- Pulsing
scheduling advertising campaigns in fairly regular bursts followed by periods of relative or complet ... more
- Puppy Dog Close
a closing technique in which a salesperson urges an indecisive prospect to 'take it home, play with ... more
- Purchase Allowance
see Off-Invoice Allowance.
- Purchase Intentions
the likelihood that a consumer will buy a particular product resulting from the interaction of his o ... more
- Purchase Laboratory
See Accelerated Test Marketing.
- Purchase Probability Scale
a tool used in marketing research surveys of buying intentions; respondents are asked to rate the li ... more
- Purchasing Officer
an individual within an organisation responsible for purchasing the goods and services it requires.
- Purchasing Performance Evaluation
the establishment of criteria by which the performance of purchasing officers can be assessed and of ... more
- Pure Competition
a marketing situation in which there are a large number of sellers of a product which cannot be diff ... more
- Pure Monopoly
a marketing situation in which there is only one seller of a product.
- Push Money
a direct payment of money offered to the sales force of a reseller by a manufacturer to encourage gr ... more
- Push Strategy
promotion to members of the marketing channel (mainly by means of personal selling) rather than prom ... more
- Push-Pull Strategy
promotion of a good or service both to end-users and members of the marketing channel to facilitate ... more
- Pyramid Selling
a selling system, now illegal in Australia, in which members of a sales organisation derive their ea ... more
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