Marketing Terms

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Term Definition
Demographics

Concerns statistics that describe a population such as age, education level, income, etc., and in marketing is used as a market segmentation variable.

Decline Stage of PLC

Stage within the Product Life Cycle which occurs when the market is no longer able to sustain sales levels for a product as sales are decreasing at increasing rates compared to previous periods.

Customer Service

Activities used by the marketer to support the purchaser’s experience with a product such as training, repair and complaint resolution.

Customer Contact Points

The different methods a customer uses to communicate with a company such as in-person, by telephone, over the Internet, etc.

Customer

A person or organization that a marketer believes will benefit from the products offered by the marketer’s organization and includes Existing Customers, Former Customers and Potential Customers.

Culture

A component of the external influences on consumer buying behavior that represents the behavior, beliefs and way people act learned through interaction and observation of other members of society.

CRM Technology

Computer and information systems that allow nearly anyone in an organization that comes into contact with a customer (e.g., sales force, service force, customer service representatives) to have timely access to necessary customer information.

CRM - Customer Relationship Management

A strategic approach whose goal is to get everyone in an organization, not just the marketer, to recognize the importance of customers.

Coupons

A form of sales promotion, mainly used in the consumer market and primarily offered in either in print or electronic form, that provides price savings or other incentives when presented at the time of purchase.

Cost-Plus Pricing

A cost pricing method used to set a product’s initial price by applying a fixed monetary amount to the cost of the product.

Cost-Per-Targeted-Impression (CPTI)

Metric for assessing advertising expenditure determined by dividing the total cost for a certain advertisement by the percentage of an audience who experience the advertisement (e.g., seen, heard) are actually within the marketer’s target market.

Cost-Per-Impression (CPI)

Metric for assessing advertising expenditure determined by dividing the total cost for a certain advertisement by how many times an advertisement is experienced (e.g., seen, heard).

Cost-Per-Action (CPA)

Metric for assessing advertising expenditure determined by dividing the total cost for a certain advertisement by how many people actually responded (e.g., purchase activity, phone inquiries, website traffic, etc.) within a specified time after the promotion was delivered.

Cost Pricing

A process for setting the initial price for a product that primarily looks at production costs as the key factor for setting price and includes such methods as Markup Pricing, Cost-Plus Pricing and Breakeven Pricing.

Corporate Channel Arrangement

A type of dependent channel arrangement where a product provider operates its own distribution system in a manor that produces an integrated channel such as a supplier operating its own chain of retail stores.