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
Ethics

From a business decision-making perspective this relates to what is right and what is wrong though the line between what is considered ethical and unethical is difficult to distinguish since it depends on such factors as nationality, culture, and industry norms.

Ethnographic Research

A form of Observational Research where researchers follow customers at work, home and when shopping in order to see how they make decisions, use products and learn other information.

Exclusive Coverage Distribution

Distribution strategy that attempts to have products made available to a very select or exclusive group of outlets either because these are high-end products targeted to a relatively small number of customers or because the marketer limits supply to their own outlets.

Existing Customer

Those who have purchased or otherwise used an organization’s goods or services, typically within a designated period of time.

Experiments

Method of data collection that falls within the category of Causal Research in which one variable, called the independent variable, is manipulated to see how it may affect another variable, called the dependent variable.

Exploratory Market Research

Marketing research method that uses a less structured and often less scientific approach to discover general information about a topic that is not well understood by the marketer.

External Forces

Factors considered outside the control of marketers but that potentially influence marketing decision-making and include demographics, economic conditions, governmental environment, influential stakeholders, cultural and social change, innovation and competitors.

Family Branding

A branding strategy in which products are given brand names that are closely connected or share the same overall name as an existing brand.

Features

Characteristics of a product that offer functional and/or psychological benefits to a customer.

Final Customer Packaging

The package containing the purchased product the final customer receives in exchange for payment.

Fixed Costs

An important component in determining the cost of a product, these represent costs the marketing organization incurs for a product regardless of level of production or sales.

Focus Groups

Method of data collection, often associated with Qualitative Research, in which a group of respondents (generally numbering 8-12) are guided through discussion by a moderator in the hope that group interaction will stimulate comments that may not otherwise be elicited.

Former Customers

Consists of those who have formerly had relations with the marketing organization, typically through a previous purchase, but have not purchased from the marketer within a certain timeframe.

Franchise

Retail format represented by a contractual arrangement in which franchisees (i.e., retail store operator) agree to pay for the right to use a franchisor’s (i.e., retail business owner) business methods and other business aspects such as the franchise name.

Franchised Channel Arrangement

A form of contractual dependent channel arrangement where a central organization (franchisor) controls nearly all activities of other members (franchisee).