Marketing Terms

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Term Definition
Press Kits

A media relations tool used as part of Public Relations that includes information such as company background, key managerial biographies and other supporting materials intended to be useful to members of the news media.

Press Release (also News Release)

A document issued by a company and intended to gain news media attention or to provide information to other company stakeholders (e.g., customers, investors).

Prestige Pricing

A type of psychological pricing where initial price is set based on customers’ perception of a correlation between perceived price and product quality where higher priced products are perceived has being higher quality compared to a lower priced product.

Price Lining

A market pricing method for setting a product’s initial price that is used when there are multiple products within a marketer’s product line and customers’ perception of difference is affected by the separation in prices for each item (e.g., low price, mid-price and premium price).

Pricing

Key component of the marketer’s toolkit that represents decisions on the methods and strategies needed to determine what a customer will give up in exchange for obtaining value from a marketer’s product.

Primary Package

The outermost container that is seen and touched by the final customer and includes: first-level package, second-level package and package inserts.

Primary Research

An approach to data collection where original data is collected for the marketers own needs or for the needs of a specific client.

Private Branding (also Store Branding)

A branding strategy, often seen in the retail industry, where stores or online sellers contract with suppliers to manufacture the retailer’s own branded products.

Private Warehouse

A type of warehouse owned and operated by channel suppliers or resellers and used as part of their distribution activities.

Product

Key component of the marketers toolkit that represents decisions on the solutions (e.g., goods, services or ideas) and strategies needed to satisfy the needs of a target market.

Product Placement

A form of advertising that intentionally inserts products into entertainment programming (e.g. movies, TV programs, video games) such as showing product use by an actor, placing product in background or having product name mentioned.

Product Positioning

Relates to marketing efforts that are intended to affect customers perception of the marketers offerings (e.g., products, company image) when compared with how customers perceive competitors offerings.

Product-Oriented Advertising

A type of advertising directed toward the promotion of a specific product to a targeted audience.

Promotion

Key component of the marketer’s toolkit that represents decisions on the methods (e.g., advertising, personal selling, public relations) and strategies needed to communicate with a target market.

Promotion Mix

The general name give to the four major methods marketers have for promoting their products that include advertising, sales promotion, personal selling and public relations.