Terms

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Term Definition
Segmentation Marketing (also Differentiated Marketing)

A target marketing strategy in which the marketer appeals to multiple smaller market segments with a unique marketing strategy for each market.

Selective Coverage Distribution

Distribution strategy that attempts to have products made available in somewhat limited locations in which this type of product is sold and not every possible location since these products generally appeal to smaller, more focused target markets (e.g., consumer shopping products).

SEO - Search Engine Optimization

Internet marketing strategies designed to attain higher rankings for company websites within users’ search engine queries.

Services

In marketing this represents a type of product that consists of something of value customers obtain through the physical labor of a marketing organization.

Shopping Products

A category of consumer products with characteristics that include: product appeals to medium-sized target market who occasionally purchase and will spend time locating; product is relatively expensive; and product is selectively distributed.

Single Line Specialty Merchandisers

A category within the products carried classification of retailers that includes retailers that offer just one product line and sometimes only one product.

Single-Party Selling System

An indirect distribution system where the marketer engages with a single reseller who then sells and distributes directly to the final customer.

Social Class

Found within the Group Membership component of the external influences on consumer buying behavior, this concept represents the social standing one has within society based on such factors as income level, education, and occupation.

Social Responsibility

A characteristic of an organization that shows concern for the people and environment in which it transacts business with such concerns being communicated and enforced within the entire organization and, in some cases, with business partners.

Special Segment Pricing

A form of standard price adjustment offered to special classes of customers and not to the overall target market.

Specialty Merchandise Wholesaler

Wholesale format represented by distributors that carry a narrow but very deep product line and who mostly offers their services to specific industries (e.g., supply only electronic products).

Specialty Products

A category of consumer products with characteristics that include: product appeals to small target market who often know exactly the brand they want; product is relatively very expensive; and product is exclusively distributed.

Sponsorships

A form of advertising where marketers pay or offer to provide resources (e.g., free product, services) for the purpose of being seen as a supporter of an event, program or product offering (e.g., section of a website).

Stakeholder

A part of the marketer’s external environment that are represented by groups who have an interest (i.e., stake) in the company and include Connected Stakeholders and Peripheral Stakeholders.

Standard Price Adjustments

Changes to a company’s initial product pricing that are consistently part of the marketer’s pricing program and not adjustments that only arise as part of special promotions and include Quantity Discounts, Trade Allowances, Geographic Pricing and Special Segment Discounts.