Marketing Terms

All A B C D E F G H I J K L M O P Q R S T U V W X Y Z
TermDefinition
CRM - Customer Relationship Management

A strategic approach whose goal is to get everyone in an organization, not just the marketer, to recognize the importance of customers.

CRM Technology

Computer and information systems that allow nearly anyone in an organization that comes into contact with a customer (e.g., sales force, service force, customer service representatives) to have timely access to necessary customer information.

Culture

A component of the external influences on consumer buying behavior that represents the behavior, beliefs and way people act learned through interaction and observation of other members of society.

Customer

A person or organization that a marketer believes will benefit from the products offered by the marketer’s organization and includes Existing Customers, Former Customers and Potential Customers.

Customer Contact Points

The different methods a customer uses to communicate with a company such as in-person, by telephone, over the Internet, etc.

Customer Service

Activities used by the marketer to support the purchaser’s experience with a product such as training, repair and complaint resolution.

Decline Stage of PLC

Stage within the Product Life Cycle which occurs when the market is no longer able to sustain sales levels for a product as sales are decreasing at increasing rates compared to previous periods.

Demographics

Concerns statistics that describe a population such as age, education level, income, etc., and in marketing is used as a market segmentation variable.

Department Stores

Retail format represented by general merchandisers offering mid-to-high quality products and a strong level of service.

Dependent Channel Arrangement (also Vertical Marketing System)

A binding arrangement between channel members, either legally or in some other manner, to engage in a specific and often strictly outlined business relationship whose types include Corporate, Contractual and Administrative.

Descriptive Data Analysis

Refers to techniques for analyzing research data in which results are presented, often using charts or tables, as a summary of what has been gathered without making a statement of whether the results hold up to statistical evaluation.

Descriptive Market Research

Generally considered the most popular form of market research, this research method has the objective of providing an accurate description for something that is occurring (e.g., monthly sales volume, customer preference).

Development Stage of PLC

Stage within the Product Life Cycle which occurs before a product is introduced to the market and is principally a time for honing the product offering and preparing the market for the product.

Diffusion of Innovation

A concept that explains how information and acceptance of new products spread through a market.

Digital Convergence

A growing trend for using computer technology to deliver media programming and information, thus allowing media from one type of outlet (e.g., newspaper) to take advantage of features and benefits offered through other media outlets (e.g., Internet).