Term
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Definition
| This includes assemblies and sub-assemblies like spark plugs, radiators, and steering wheels. |
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Term
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Definition
| This refers to the entity that has final responsibility for the purchase decision in marketing to businesses. |
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Term
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Definition
| The demand for a product that is caused by the purchase and use of another product or service. |
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Term
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Definition
| This refers to an entity that acts to keep outsiders away from those actually writing the specification or making the decision in business marketing. |
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Term
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Definition
| This refers to an entity that can influence a specification or decision in business marketing. |
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Term
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Definition
| This refers to the entities that begin the purchasing [evaluation] cycle in business marketing. |
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Term
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Definition
| This category includes factories, warehouses, and office buildings. |
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Term
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Definition
| Demand for two or more products that are used together to create a different product. |
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Term
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Definition
| All items used for the maintenance, repair, and operation of a facility and its equipment. |
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Term
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Definition
| This refers to the entity that actually places the purchase orders in business marketing. |
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Term
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Definition
| Includes all purchased services like grounds maintenance and housekeeping. |
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Term
| Business purchasing cycle |
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Definition
| This represents the entire set of steps from initial investigation to ongoing vendor evaluation. |
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Term
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Definition
| This refers to the entities that determine whether a product is suitable for the intended purpose in business marketing. |
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Term
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Definition
| Items used to help make a finished product like drill presses and assembly lines. |
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Term
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Definition
| This refers to the entities that utilize the product in business marketing. |
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Term
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Definition
| A sales approach resulting in a single vendor providing a total solution. |
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Term
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Definition
| Includes basic items including things like rolled steel, rubber, and plastic resins. |
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Term
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Definition
| Any unfilled opportunity in the market. |
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Term
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Definition
| This type of market is composed of a large number of NAICS codes and products sold to it tend to me homogeneous. |
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Term
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Definition
| Any product bought by firms for further processing or for use in conducting a business. |
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Term
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Definition
| A company owned by two or more non-related firms. |
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Term
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Definition
| The firm seeking to attain the market leader position. |
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Term
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Definition
| A firm that follows developments of the market leader and market challenger but does not threaten either of them. |
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Term
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Definition
| The entity with the largest market share. |
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Term
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Definition
| A firm that finds and develops small market segments that are not of major interest to large market share firms. |
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Term
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Definition
| A firm that is not currently in, or close to, any product market of your firm but could have a significant impact on those markets if it entered. |
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Term
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Definition
| An arrangement [formal or informal] were two or more firms agree to commit resources toward a specific objective. |
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Term
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Definition
| The process of creating, maintaining, and enhancing strong, value-based relationships with customers and other stakeholders. |
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Term
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Definition
| Relationships [usually between two companies] that have complementary strengths and offsetting weaknesses. |
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Term
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Definition
| The Cardinal Rule - larger numbers usually always win. |
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Term
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Definition
| The Cardinal Rule - larger numbers usually always win. |
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Term
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Definition
| Companies in the same business selling the same or very similar products. |
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Term
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Definition
| This type of market is composed of a small number of NAICS codes and products tend to be very different. |
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Term
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Definition
| The process of dividing the market into groups based on demographic variables such as age, sex, family size, family life-cycle, income, occupation, education, religion, race, and nationality. |
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Term
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Definition
| A market-coverage strategy in which a firm targets several market segments and designs separate offers for each. |
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Term
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Definition
| The process of dividing a market into different geographical units as countries, states, regions, cities, or neighborhoods. |
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Term
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Definition
| Tailoring products and marketing programs for individual customers. |
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Term
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Definition
| Focusing on niches that seek a unique combination of benefits. |
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Term
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Definition
| Isolating broad segments that make up a market and adapting the marketing offering for one or more target segments. |
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Term
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Definition
| The process of developing brands and promotions to the needs and wants of local customer/prospect groups. |
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Term
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Definition
| Describes the space a product occupies with a distinctive fit relative to competing products in the minds of target customers and prospects. |
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Term
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Definition
| The process of dividing a market into smaller groups of buyers with distinct needs, characteristics, or behaviors requiring separate products or marketing mixes. |
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Term
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Definition
| The process of dividing a market into smaller groups of buyers with distinct needs, characteristics, or behaviors requiring separate products or marketing mixes. |
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Term
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Definition
| The process of evaluating each market segment's attractiveness and selecting which segment[s] to enter. |
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Term
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Definition
| The process of developing products and marketing programs for specific individuals and local customer groups including local marketing and individual [1:1] marketing. |
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Term
| Psychographic segmentation |
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Definition
| The process of dividing a market into different groups based on social class, lifestyle, or personality characteristics. |
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Term
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Definition
| Companies that are very close to, but not currently in, the product markets of your firm. |
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Term
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Definition
| The set of information that can be legally obtained by various methods about a competitor. |
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Term
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Definition
| An action where one party is sued by a class or group of entities. |
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Term
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Definition
| Using the brand names of two different companies on the same product. |
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Term
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Definition
| This describes the situation where both an individual and corporate brand are used together |
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Term
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Definition
| This is the primary product. |
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Term
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Definition
| This describes the situation where both an individual and corporate brand are used together |
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Term
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Definition
| This refers to a corporate name that is always present on the firm's offerings. |
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Term
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Definition
| How you make your product's value set have meaningful differences in the minds of customers and prospects. |
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Term
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Definition
| This refers to a no-name or white box brand image. |
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Term
| Individual / product brand |
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Definition
| This is a product with a single brand name that is different from the corporate name. |
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Term
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Definition
| Additional items in a category using the same brand name, such as new flavors, forms, colors, ingredients, or sizes. |
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Term
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Definition
| The game plan used to successfully position a brand and achieve corporate objectives. |
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Term
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Definition
| Refers to the situation where one firm allows another company to use its brand through a formal licensing agreement |
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Term
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Definition
| A brand name extended to include a new product category. |
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Term
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Definition
| Refers to the premium a purchaser will pay versus a competitor or the value of owning the brand - an off-balance sheet number |
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Term
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Definition
| A name, term, sign, symbol, or any other unique element that identifies goods or services and differentiates them from those of competitors. |
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Term
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Definition
| This is the actual product plus many other items including installation, service, warranty, etc. |
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Term
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Definition
| This is the core product plus additional features like brand, quality, packaging, etc. |
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Term
| Undifferentiated marketing |
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Definition
| A market-coverage strategy in which a firm goes after the whole market with a single offer. |
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Term
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Definition
| This describes a situation where a firm has multiple brands in the same category. |
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Term
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Definition
| This is a brand owned and used by someone other than the producer of the product. |
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Term
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Definition
| The risk a firm incurs by selling products that may not provide the level of safety which the community is generally entitled to expect |
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Term
| Unique Selling Proposition [USP] |
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Definition
| A way to briefly describe your business that includes the three components of specific, measurable, and beneficial. |
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