Marketing Terms

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Term Definition
Package Inserts

Information included within a package that is used to communicate with customers after they open the product package such as instruction manuals, promotional incentives and information on other company products.

Parity Pricing

A competitive pricing method in which initial price is set at levels that are the same as competitors’ prices.

Partial-Service Research Firm

Research companies that offer expertise addressing a specific part of the research plan, such as developing methods to collect data (e.g., design surveys) locating research participants or undertaking data analysis.

Perception

The internal processing of stimuli (e.g., advertisements) that shapes how a person sees themselves and the world they live in.

Perceptual Filter

A component of the internal influences on consumer buying behavior that affects, through both conscious and subconscious processes, how a consumer perceives the world.

Peripheral Stakeholders

Represent groups, such religious organizations, community activists, and cause supporters, that are part of a marketing organization’s external forces but that may not routinely impact the marketer unless specific issues arise.

Personal Interview

Method of data collection, often associated with Qualitative Research, that allows researchers to talk one-on-one with a respondent thus providing the opportunity to dig deeper and find out additional details that may not be available through other methods.

Personal Selling

Promotional method in which one party (e.g., salesperson) uses personal contact to build relationships with another party (e.g., those involved in a purchase decision) that results in both parties obtaining value.

Personal Selling Systems

A direct distribution system involving a person whose main responsibility is to create and manage sales (e.g., salesperson) generally by persuading the buyer to place an order.

Personality

A component of the internal influences on consumer buying behavior that represents the perceived personal characteristics that a person consistently exhibits, especially when that person acts in the presence of others.

PLC - Product Life Cycle

Used as a tool for depicting the concept that products go through several stages of “life” with each stage presenting the marketer with different challenges that must be met with different marketing approaches.

Podcasting

Name given to a method of delivery of audio and video programming that a user can download to a media devices, such as MP3 players or video player, thus allowing for playback on the user’s own schedule.

POP Display (also Point-of-Purchase Display)

A form of trade sales promotion that are generally found in retail outlets and allow products to be prominently presented thereby increasing the probability the product will standout.

Potential Customers

Those who have yet to purchase but possess what the marketer believes are the requirements to eventually become a customer.

Premiums

A form of sales promotion, used in both consumer and business markets, in which free merchandise is given-away, though these products are generally not the actual product but have some connection to the actual product (e.g., free coffee cup imprinted with product logo).