Marketing Terms and Definitions

KnowThis.com offers a detailed list of marketing terms that includes definitions and links to more detail found within our Principles of Marketing Tutorials. For most terms to learn more click on the For More See link.

• General Merchandise Wholesaler

  Wholesale format represented by distributors that carry broad but shallow product lines and who mostly offer their services to smaller general merchandise retailers such as convenience stores.
  • For More See: Wholesale Formats: Part 1

• General Merchandisers

  A category within the products carried classification of retailers that includes retailers who carry a wide range of product lines though the number of different items within a particular product line is generally limited.
  • For More See: Target Markets and Products Carried

• Generic Branding (also No-Name Branding)

  A branding strategy, common to commodity products, that essentially creates a "brandless" product offering basic product features and low price.
  • For More See: Approaches to Branding

• Geographic Pricing

  A form of standard price adjustment that, in general, increases the initial price to customers within certain geographic areas to cover increase costs to the marketer such as transportation costs, taxes and tariffs.
  • For More See: Segment, Geographic Pricing

• Good Customers

  Those who hold the potential to undertake activities offering long-term value to an organization that not only includes purchasing products but also providing additional support for the marketer (e.g., offer feedback, act as word-of-mouth advertisers).
  • For More See: Importance of Good Customers

• Goods

  In marketing this represents a type of “product” that consists of tangible items (i.e., can be felt, tasted, heard, smelled or seen) that marketers offer to satisfy the needs of their customers.
  • For More See: What is a Product?

• Group Membership

  A component of the external influences on consumer buying behavior that represents people and organizations with which a person shares certain characteristics and which may influence a person's purchase decisions.
  • For More See: External: Culture and Groups

• Growth Stage of PLC

  Stage within the Product Life Cycle which occurs when a product is widely accepted and often reaches rapid growth characterized by a large percentage sales increase over previous periods.
  • For More See: Early Growth Stage

• Guarantee

  Assurance offered by a marketer that the product will perform up to expectations or the marketer will support the customer’s decision to replace, have the product repaired or accept a return for a refund.
  • For More See: Components of a Product