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| Involves the process by which people determine whether, what, when, where, how, from whom, and how often to purchase goods and services. |
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| The extent to which a customer or client is uncertain about the consequences of an action, often relating to purchase decisions |
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| A set of rules derived from experimentation or experience. |
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| The composite of ideas, feelings and attitudes that a person has about his own identity, worth, capabilities and limitations. |
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| a manner of living that reflects the person's values and attitudes |
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| In the field of buzzwords, marketing, demographics, opinion research, and social research in general, psychographic variables are any attributes relating to personality, values, attitudes, interests, or lifestyles. |
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| a social group within a national culture that has distinctive patterns of behavior and belief |
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| A class of people, based on social power, wealth or another criterion |
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| Opinion leadership is a concept that arise out of the theory of two-step flow of communication propounded by Paul Lazarsfeld and Elihu Katz. This theory is one of several models that try to explain the diffusion of innovations, ideas, or commercial products. |
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| Consumer-to-Consumer E-commerce |
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| Market segmentation is a concept in economics and marketing. A market segment is a sub-set of a market made up of people or organizations sharing with one or more characteristics that cause them to demand similar product and/or services based on qualities of those products such as price or function. |
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| Demographics or demographic data are the characteristics of a human population as used in government, marketing or opinion research, or the demographic profiles used in such research. |
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| A man concerned with self-image, by extension personal grooming, fashion, and aesthetics in genera |
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| The study of population characteristics set within a spatial contex |
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| Undifferentiated Targeting Strategy |
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| Differentiated Targeting Strategy |
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| Mass customization, in marketing, manufacturing, call centres and management, is the use of flexible computer-aided manufacturing systems to produce custom output. Those systems combine the low unit costs of mass production processes with the flexibility of individual customization. |
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| The way that a product is introduced to its market audience. This includes pricing, packaging, prestige, store placement and how consumers view it as opposed to the product’s competitors. |
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| Customer Relationship Management |
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| A method of identifying and creating a relationship with long-term customers through customer service techniques that track information about a given customer such as their activities and preferences.Customer feedback research is important intelligence for improved CRM. |
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| Lifetime Value of a Customer |
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| consumer goods that are not destroyed by use/consumer goods that are destroyed by use |
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| a category of consumer product purchased frequently and with little thought and effort. |
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| the introduction of a product which is new to both the company and its customers; a new-to-the-world product. |
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| a colloquial term used in reference to new product innovations which are almost identical, look-alike copies of competitors' best-selling items; knockoffs are common where the item copied fits nicely with the manufacturing and marketing strengths of the company which copies it, and are intended to take overall market share from the competitor. |
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| a stage in the new product development process in which the information gathered in the screening, concept development and testing and marketing planning stages is used to produce break-even and return-on-investment projections. |
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| a sample or early version of a new product made or built specifically for trialing and testing |
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| a city, region or state used to test market reaction to a new product and marketing program before full commercialization begins; test markets can also be simulated by bringing together selected individuals from the target market |
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| the final stage of the new product development process in which the decision is made to put the new product into full scale production and to launch it |
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| Diffusion is the process by which a new idea or new product is accepted by the market |
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| unplanned consumer buying of attractively presented or conveniently located products |
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| an intangible product; any product offering that is essentially intangible. |
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one of the four characteristics (with inseparability, perishability and variability) which distinguish a service; intangibility expresses the notion that a service has no physical substance. Intangible Product - see Actual Product.
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| one of the four characteristics (with inseparability, intangibility and perishability) which distinguish a service; variability expresses the notion that a service may vary in standard or quality from one provider to the next or from occasion to the next. Also referred to as Heterogeneity. |
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| one of the four characteristics (with intangibility, perishability and variability) which distinguish a service; inseparability expresses the notion that a service can not be separated from the service provider. |
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| The process of doing away with middlemen from business transactions |
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| the determination of the methods and techniques used to fill the "gap" between corporate sales and financial objectives and the current long-range forecasts of the sales team. |
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| Lets retailers assess the quality of their service offerings by asking customers to react to a series of statements in five areas of performance: reliability, responsiveness, assurance, empathy, and tangibles |
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| New Dominant Logic for Marketing |
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| marketing activity intended to promote an awareness, and favourable opinion, of a particular place or region |
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| activities associated with the marketing of a cause or idea. |
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