abbrev. Physical Distribution Management; Product-Differentiated Marketing.
acronym for Progam Evaluation and Review Technique; a quantitative technique used as a managerial to ... more
abbrev. Product Life Cycle
abbrev. Point of Purchase.
abbrev. Persons of Opposite Sex Sharing Living Quarters; sometimes written as POSLSQ - Persons of Op ... more
abbrev. Public Relations.
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
the materials (glass, aluminium, cardboard, etc) originally intended merely to contain and protect a ... more
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
a market situation in which there are a few large sellers and many smaller ones.
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
- 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
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
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
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.
a system of transportation requiring the transfer of containers from truck to rail.
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.
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
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
a market situation in which there are no large sellers but many small ones.
a market situation in which there are no large buyers but many small ones.
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.
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.
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
the testing of a questionnaire, advertisement, etc on respondents selected from the target market be ... more
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.
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.
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
- 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.
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
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.
- 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
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
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
a potential customer.
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
Stage in an economic cycle in which conditions of relatively low-unemployment and high total ... more
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.
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.
a qualitative marketing research technique in which respondents are asked to engage in impromptu rol ... more
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
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
corporate or product promotion that is obtained free of charge.
the various groups in a society which can influence or bring pressure to bear upon a firm's decision ... more
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
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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