Marketing Terms

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Term Definition
Value

The perception of benefits received for what someone must give up to obtain the benefits.

Variable Costs

An important component in determining the cost of a product, these costs are directly associated with production and sales and, consequently, may change as the level of production or sales changes.

Vending

Retail format represented by automated methods (i.e., via vending machine) for allowing consumers to make purchases and quickly acquire products.

Video News Release (also Audio News Release)

A media relations tools used as part of Public Relations in which prerecorded video, often highlighting a company and its products, is distributed to news media for the purpose of being included within media programming such as within news stories.

VoIP - Voice over Internet Protocol

Advancement in telephony that allows for telephone calls (e.g., customer service) to be delivered over the Internet at low cost and with multiple phones sharing the same connection.