Term
| Accessible (segment member) |
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Definition
| Means that members of a market can be reached or impacted by some directed marketing activity, a criterion of a good market segmentation approach |
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Term
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Definition
| The percentage of accounts that continue doing business with the seller each year |
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Term
Build-up Approach
(to market size estimation) |
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Definition
| Estimates come from calculating the value of various materials or parts units needed (build up) in a specific application or from specific accouns. Also called factoring |
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Term
| Customer Lifetime Value (CLV) |
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Definition
| An estimate of the net persent value of the stream of benefits from a customer, less the burdens of servicing the account or managing the relationship |
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Term
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Definition
| Describes the process of using numerous query tools and exploratory techniques to extract information from a data base or warehouse |
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Term
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Definition
| Ises centrally managed data from all functional areas of the organization (sales, purchasing, human resources, finance, accounts payable, ect) - formatted to company standards- so that it may be accessed by authorized users through thier personal computers for queries, custome reports, and analysis |
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Term
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Definition
| A method of customer analysis that orders teh firm's customers from best to smallest, on the basis of purchase volume for the period |
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Term
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Definition
| Active listening and identification with customer concerns, resulting in customer-centered communication and problem solving |
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Term
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Definition
| Approach to market size estimation in which estimates come from calculating the value of various materitals or parts units needed (factors) in a specific application or form specific accounts. Also called buildup approach |
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Term
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Definition
| A method of quantitaive marketing research that brings a small group of customers together to discuss a specific topic or issue, under the direction of a professional moderator |
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Term
Identifiable
(segment members) |
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Definition
| A criterion for a good segmentation approach; it means that members of market segments can be enumerated and evaluated |
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Term
NAICS
(pronounced "knacks")
North American Industrial Classification System |
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Definition
Establishes a common code between the United States, Canada, & Mexico that is compatible with the United Nations' two-digit system of undustry classification ISIC
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Term
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Definition
| A loosely used term that generally refers to marketing efforts to secute a valued categorization in the mind of the customer |
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Term
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Definition
| A questionnaire administered to a representative group of a particular population |
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Term
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Definition
| A forecasting technique that requires managers to write explicit anticipit futures and articulate the chains of events that would need to occur to make the future happen; a method used for organizational learning |
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Term
Standard Industrial Classification codes
(SIC) |
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Definition
| Were developed by the U.S. goverment to collect and disseminate meaningful information on different sectors of the ecomony |
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Term
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Definition
| An estimation technique that uses the correlation between demand and some other set of economic activities to yield a forecast |
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Term
Substanial
(segement potential) |
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Definition
| A market segment promises sufficient business to justify the effors to serve it, a criterion of good segmentation approach |
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Term
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Definition
| The unethical practice of using marketing research as a guise for selling |
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