Terms

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Term Definition
Micro-Marketing (also Customized Marketing)

A target marketing strategy that attempts to appeal to specific targeted customers with individualized marketing programs.

Minor New Purchase Decision

Type of consumer purchase decision that involves the purchase of something new to a consumer but in the customer ’s mind is not a very important purchase in terms of need, money or other reason.

Minor Re-Purchase Decision

Type of consumer purchase decision in which purchases are routine and often the consumer purchases the same product without consideration for other product or brand options.

Missionary Selling (also Product Detailing)

A sub-category of the order influencer sales classification in which salespeople make sales calls to those who influence others, through advice or requirements, to make purchases the most common of which are found in the pharmaceutical and higher education textbook industries.

Modified Re-Purchase

A type of business purchase decision in which a buyer, who previously gave little consideration for alternatives when purchasing a certain type of product, has now decided to consider other options thus increasing the chances of purchasing from a new supplier.

Mom-and-Pop Retailer

Retail format represented by a small, individually or family owned and operated outlet that generally services a local community often with a high level of service but relatively small product selection.

Motivation

A component of the internal influences on consumer buying behavior that represents the strength of a persons desire to achieve a certain outcome.

MSRP - Manufacturer’s Suggested Retail Price

The price set by a consumer products manufacturer suggesting a price level for a product at the retail level, though depending on the demand for the product such pricing may be adjusted (mostly lower) by the marketer and others in the channel of distributions.

Multi-Channel System (also Hybrid System)

A distribution design where a marketer uses a combination of direct and indirect distribution systems.

Multiple Lines Specialty Merchandisers

A category within the products carried classification of retailers that includes retailers that carry a limited number of product lines but within these product lines they offer an extensive selection.

Multiple-Party Selling System

An indirect distribution system where the marketer involves two or more resellers who aid in selling and distributing to the final customer.

New Business Development

A sub-category of the order getter sales classification in which salespeople locate and sell to new customers then once a sale is made pass this customers on to others in their organization who handle account maintenance.

New Task Purchase

A type of business purchase decision faced by buyers considering an important purchase but one the buyer has never or rarely made before and, consequently, will devote considerable time evaluating alternatives.

Niche Marketing (also Concentrated Marketing)

A target marketing strategy that uses a single marketing strategy to appeal to one or more small sub-segments within a larger market segment.

Non-Store Retailers

Retailers selling to customers through means other than a physical outlet including online, direct marketing and vending.