Marketing Terms

KnowThis.com offers a detailed list of marketing terms.

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Term Definition
Core Benefits

A component of the Total Product offered by the marketer, these represent the key benefits offered by a product itself or through other aspects of using the product.

Convenience Store

Retail format represented by general merchandise retailers that offer very limited product selection and relatively high prices but offer easy purchase experience through accessible store locations, small store size for quick shopping and fast checkout.

Convenience Products

A category of consumer products with characteristics that include: appeals to large market segment, purchase is frequent; pricing is relatively low; and product is widely distributed.

Contractual Wholesaler

Wholesale format represented by a distributor that brings together and manages many independent retailers within a contractual arrangement.

Contractual Channel Arrangement

A type of dependent channel arrangement where a legal document obligates members to agree on how distribution occurs including identifying which activities each channel member is permitted to perform or not perform.

Contests

A form of sales promotion, mainly used in the consumer market, that awards something of value to winners based on skills they demonstrate compared to other consumers.

Consumer Sales Promotions

Sales promotions that are primarily directed at the final consumer normally in the form of an incentive to make a purchase or undertake some other activity.

Consumer Purchase Decisions

General term referring to types of decisions facing consumers when they make purchases which include: Minor New Purchases, Minor Re-Purchases, Major New Purchases and Major Re-Purchase.

Consumable Product

The main good, service or idea the customer is buying when a purchase is made (e.g., the paste within a toothpaste product).

Connected Stakeholders

Represent groups that are part of a marketing organization’s external forces and who regularly interact with the marketing organization such as supply and distribution partners, industry standards groups and support companies (e.g., advertising agencies).

Complementary Products

Products viewed as add-ons to a main product which are designed to enhance the main product by making it easier to use, improving overall styling or extend functionality.

Competitive Pricing

A process for setting the initial price for a product that bases price largely competitor pricing and includes such methods as Below Competition Pricing, Above Competition Pricing and Parity Pricing.

Cold Call

A method for contacting sales prospects where a salesperson makes an unannounced first contact with the prospect with the intention of either scheduling a future appointment or giving a sales presentation during this first contact period.

Code of Ethics

Organizational document that includes guidelines for how business is conducted by members of the organization.

Co-op Advertising (also Advertising Support Program)

A form of trade sales promotion where a marketer offers channel members some level of financial support for including the marketer’s products in channel member’s advertising.