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.

• Observational Research

  Method of data collection, often associated with Qualitative Research, that watches customers as they perform activities either in a laboratory or in a natural setting (e.g., shopping in a retail store, using products at home).
  • For More See: Qualitative Research Types

• Odd-Even Pricing

  A type of psychological pricing where price is set based on customers' perception of a significant difference in cost between products priced at a whole number value and products priced slightly below this whole number.
  • For More See: Market Pricing: Psychological Pricing

• Online Chat

  In marketing this is web-based technology that allows real-time communication between customers and company personnel through the exchange of text messaging within a web browser.
  • For More See: Customer Service: Online Chat, Knowledge Base, FAQ

• Opinion Leaders

  A concept in consumer buying behavior which relates to people or organizations within a group who a consumer looks to for advice or direction and, consequently, may hold influence on what a consumer purchases.
  • For More See: External: Culture and Groups

• Order Getter

  A category within personal selling that includes salespeople who actively engage in obtaining orders from customers and includes sub-categories of New Business Development and Account Management.
  • For More See: Selling Roles: Order Getters

• Order Influencer

  A category within personal selling that includes salespeople who primarily concentrate on selling activities targeted to those who influence others to purchase the product of which is the Missionary Selling is most predominant example.
  • For More See: Selling Roles: Order influencers

• Order Taker

  A category within personal selling that includes salespeople who primarily assist customers with a purchase in ways that are much less assertive than salespeople who serve as Order Getters and includes sub-categories Clerks (retail and industrial) and Customer Service Personnel.
  • For More See: Selling Roles: Order Takers

• Organizational Stakeholders

  Groups outside an organization that provide services, support or, in other ways, impact the company.
  • For More See: Targets of Marketing Promotions

• Out-Sourcing

  Move by companies to locate certain business functions, such as customer service, outside of either their home country or the country in which their customers reside.
  • For More See: Customer Service Trends