Marketing Terms

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Markup-on-Cost

A markup pricing method in which markup is viewed as a percentage by which initial price is set above product cost and is determined by multiplying the cost of each item by a predetermined percentage then adding the result to the product’s cost.

Markup-on-Selling-Price

A markup pricing method in which markup is viewed as a percentage of the product’s selling price and is determined by dividing the cost of each item by one minus a predetermined percentage.

Mass Coverage Distribution (also Intensive Distribution)

Distribution strategy that attempts to have products made available in nearly all locations in which that type of product is sold though this strategy is generally only feasible for low priced products that appeal to very large target markets (e.g., consumer convenience products).

Mass Discounters

Retail format represented by general or specialty merchandisers whose main strategy is to offer discount pricing and whose outlets offer few services and generally lower quality product than is available at higher-end retailers.

Mass Marketing (also Undifferentiated Marketing)

A target marketing strategy that assumes all customers in a large market seek the same benefits and, consequently, a marketer appeals to this market with a single marketing strategy including a single product.

Matte Release

A media relations tools used as part of public relations involving the submission of articles to media, such as newspapers and websites, as filler material when publications lacks sufficient content or as original content for publishers whose business model involves mostly third-party submissions.

Maturity Stage of PLC

Stage within the Product Life Cycle which occurs when product growth slows with total sales increasing but at decreasing rates compared to previous periods.

Media Planner

Marketing service that aids clients in assessing different media options and providing other promotional assistance.

Media Tour

A public relations tool where a company spokesperson travels to key cities to discuss new products through bookings on TV and radio shows and conducting interviews with print and Internet reporters or influencers (e.g., bloggers).

Micro-Marketing (also Customized Marketing)

A target marketing strategy that attempts to appeal to specific targeted customers with individualized marketing programs.

Minor New Purchase Decision

Type of consumer purchase decision that involves the purchase of something new to a consumer but in the customer’s mind is not a very important purchase in terms of need, money or other reason.

Minor Re-Purchase Decision

Type of consumer purchase decision in which purchases are routine and often the consumer purchases the same product without consideration for other product or brand options.

Missionary Selling (also Product Detailing)

A sub-category of the order influencer sales classification in which salespeople make sales calls to those who influence others, through advice or requirements, to make purchases the most common of which are found in the pharmaceutical and higher education textbook industries.

Modified Re-Purchase

A type of business purchase decision in which a buyer, who previously gave little consideration for alternatives when purchasing a certain type of product, has now decided to consider other options thus increasing the chances of purchasing from a new supplier.

Mom-and-Pop Retailer

Retail format represented by a small, individually or family owned and operated outlet that generally services a local community often with a high level of service but relatively small product selection.