Marketing English Glossary 5. Semester

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  1. buying behaviour
    Purchase decision making pattern that is a complex amalgam of needs and desires, and is influenced by factors such as the consumer's (1) societal role (parent, spouse, worker, etc.), (2) social and cultural environment and norms, and (3) aspirations and inhibitions
  2. brand recognition
    also: brand awarenessIs a marketing concept that measures consumers' knowledge of a brand's existence.
  3. brand personality
    Human traits or characteristics associated with a specific brand name. Common characteristics or traits represented include uniqueness, sincerity, intellectualism, competence, excitement and sophistication. The brand personalities gives consumers something with which they can relate, effectively increasing brand awarenessand popularity
  4. brand loyalty
    The extent of the faithfulness of consumers to a particular brand, expressed through their repeat purchases, irrespective of the marketing pressure generated by the competing brands.
  5. brand leader
    Most widely sold and recognized product in a particular market segment. Also called market leader, a brand leader usually also commands the largest profit margins
  6. brand image
    The impression in the consumers' mind of a brand's total personality (real and imaginary qualities and shortcomings). Brand image is developed over time through advertising campaigns with a consistent theme, and is authenticated through the consumers' direct experience.
  7. brand extension
    Multiproduct branding strategy whereby a firm markets one or more new products under an already established and well known brand name. The objective is to serve different customer needs or market segments while taking advantage of the widespread name recognition of the original brand. For example, maker of a popular perfume may introduce shampoos, bath soaps, body powders, etc., under the perfume's name. Line extension is encouraged by some marketing experts and frowned upon by others. Also called brand extension.
  8. brand equity
    The value of the brand. An intangible asset that depends on associations made by consumers
  9. brand community
    An enduring self-selected group of consumers sharing a system of values, standards and representations (a culture) and recognizing bonds of membership with each other and with the whole.
  10. bias
  11. Benchmarking
    comparing the performance of an organisation's products or processes with those of competitors or a recognised world leader, usually in another industry; typical performance measures include costs, productivity, process waste, and order processing time.
  12. behavioural data
    information used in marketing for designing marketing activities based on consumers' habits and preferences
  13. behaviour mapping
    The study of activities that occur at certain points within a defined space. This space can be a physical one, e.g. a supermarket, as well as a virtual one
  14. bargain
    An advantageous purchase especially one acquired at less than the usual cost. (Schnäppchen)
  15. Banner Advertising
    online advertising that appears -- usually as a narrow strip -- across the top of many websites.
  16. augmented product
    An embodied product to which additional products and services may be added to generate multiple revenue streams. For example, an accounting software program that starts with a general ledger to which various modules such as budgeting, inventory control, payroll (as well as training aids such as books, newsletters, seminars, and videos) may be added.
  17. aid
    to provide support for or relief to; help
  18. advertorial
    an advertisement that uses the style of a newspaper or magazine article so that it appears to be giving facts rather than trying to sell a product
  19. acronym
    a word formed from the initial letters or groups of letters of words in a set phrase or series of words, as OPEC from Organization of Petroleum Exporting Countries
  20. account manager
    a sales representative responsible for a major customer account or group of major accounts; also referred to as an account executive.
  21. distribution
    The movement of goods and services from the source through a distribution channel, right up to the final customer, consumer, or user, and the movement of payment in the opposite direction, right up to the original producer or supplier.
  22. distinguish
    to recognize features as distinct, different or unique from other products or services.
  23. discount
    Deduction from the face amount of an invoice, made in advance of its payment.
  24. demand
    the amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price
  25. database marketing
    the use of large collections of computer-based information in marketing; the database listings may be reference databases containing information on specific topics; full databases which contain full transcripts of documents or articles being sought; or source databases which contain listings of names and addresses, etc of prospective customers.
  26. data warehouse
    a very large collection of stored data from different sources but all relating to the one topic, subject or project.
  27. data mining
    sifting through very large amounts of data for useful information. Data mining uses artificial intelligence techniques, neural networks, and advanced statistical tools (such as cluster analysis) to reveal trends, patterns, and relationships, which might otherwise have remained undetected. In contrast to an expert system (which draws inferences from the given data on the basis of a given set of rules) data mining attempts to discover hidden rules underlying the data. Also called data surfing

    = Datenbankauswertung
  28. data analysis
    processing marketing research findings to summarise a situation, discover relationships between elements of the information, or to draw conclusions from them.
  29. customer insight
    Knowledge about customers needs, characteristics, preferences and behaviours based on analysis of qualitative and quantitative data.
  30. cue
    a sensory signal used to identify experiences facilitate memory, or organise responses
  31. Covert advertising
    is when customers do not realize they are being targeted.
  32. cost-benefit analysis
    a process by which business decisions are analysed
  33. corporate branding
    Attempt to attach higher credibility to a new product by associating it with a well established company name. Unlike a family-branding (which can be applied only to a specific family of products), corporate branding can be used for every product marketed by a firm.
  34. core product
    dominant benefit or satisfaction that a customer expects from a good or service he buys
  35. copyright
    • Legal monopoly that protects published or unpublished original work.
    •  Copyright covers not only books but also advertisements, articles, graphic designs, labels, letters (including emails), lyrics, maps, musical compositions, product designs,
  36. copy writer
    person responsible for creating the written and spoken words in an advertisement
  37. convey
    to communicate or to make known
  38. consumer surplus
    In economics, the satisfaction (utility) consumers receive for which they do not have to pay for. Or, in other words, amount of money by which consumers value a good or service over and above its purchase price.
  39. consumer journey
    keeping track of all costumer-product interaction
  40. commodity
    A reasonably homogeneous good or material, bought and sold freely as an article of commerce. Commodities include agricultural products, fuels, and metals and are traded in bulk on a commodity exchange or spot market.
  41. category killer
    a retail chain which is focused on one or few categories of merchandise and offers a wide selection of merchandise in these categories at relatively low prices
  42. Catalogue Marketing
    a form of direct marketing in which customers order from catalogues which are sent to them by mail; the ordered goods are shipped directly to them.
  43. jargon
    the language, especially the vocabulary, peculiar to a particular trade, profession, or group
  44. involvement
    The degree of personal relevance a consumer perceives a product, brand, object, or behavior to have.
  45. internal marketing
    Management philosophy of promoting the firm and its policies to employeesas if they are the (internal) customers of the firm
  46. intermediary
    Firm or person (such as a broker or consultant) who acts as a mediator on a link between parties to a business deal, investment decision, negotiation, etc.
  47. integrated marketing
    Strategy aimed at unifying different marketing methods such as mass marketing. Its objective is to complement and reinforce the market impact of each method, and to employ the market data generated by these efforts in product development, pricing, distribution, customer service, etc.
  48. individual branding
    Marketing policy under which each product has its own brand, different from every other products in the same product family or from the same firm.  For example, Proctor and Gamble offers uniquely positioned brands such as Tide, Cheer, Bold etc.
  49. inconsistent
    lacking in harmony between the different parts or elements; self-contradictory
  50. incompatibility
    two actions, ideas that are not acceptable or possible together because of basic differences.Unvereinbarkeit
  51. incentive
    Something that serves as a motivational device for a desired action or behavior
  52. impulse buying
    A purchase behavior that is assumed to be made without any planning.
  53. holistic marketing
    A marketing strategy that is developed by thinking about the business as a whole, its place in the broader economy and society, and in the lives of its customers. It attempts to develop and maintain multiple perspectives on the company’s commercial activities.
  54. guerilla marketing
    unconventional system of promotions that relies on time, energy and imagination rather than a big marketing budget. Typically, guerrilla marketing campaigns are unexpected and unconventional; potentially interactive; and consumers are targeted in unexpected places.
  55. growth strategies
    the means by which an organisation plans to achieve its objective to grow in volume and turnover. Four broad growth strategies are available - market penetration, product development, market development and diversification.
  56. geographic market concentration
    a distinctive characteristic of the industrial market; the industrial market tends to be more geographically concentrated than the consumer market.
  57. genericise
    Colloquial term used to describe what happens to a brand name when it becomes so well recognized by consumers that the brand serves as the overall category name, e.g. Kleenex, Xerox
  58. generic brand
    Products sold without any promotional materials or any means of identifying the compnay, with the packaging displaying only information required by law. The only form of identification is the relevant product category, e.g. plain flour. Also called "white carton" products.
  59. gathering
    a collection, assemblage, or compilation of anything
  60. focus group
    a group of people brought together to give their opinions on a particular issue or product, often for the purpose of market research
  61. feasible
    that is possible and likely to be achieved.durchführbar
  62. family branding
    group of brands related to one another and having a 'parent' brand that imparts an aura of quality and trust to the entire family.synonym for family brand: umbrella brand
  63. extreme user interview
    consumer keep visual diaries of their impressions relating to product
  64. experimental research
    Market research conducted by experiencing the outcome achieved through the use of a good or service. The outcome may be experienced by a sample group or those conducting the research.
  65. expense
    Money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business.
  66. encourage
    to give somebody support, courage or hope.jmd. ermutigen
  67. embodied product
    The physical good or delivered service that provides the expected benefit.
  68. downmarket
    to take a brand downmarketWhen a premium brand offers a product at a reduced price to gain additional sales among lower-income buyers.
  69. overcapacity
    can make and supply more products than customers buy or are expected to buy (Überkapazität)
  70. odd-even pricing
    Psychological pricing method based on the belief that certain prices or price ranges are more appealing to buyers. This method involves setting a price in odd numbers (just under round even numbers) such as $49.95 instead of $50.00. Originally, this practice was meant to prevent pilfering of cash by forcing a cashier to open the cash-register (to pay change to the customer) and thus register the transaction. Although not supported by any research findings, its proponents claim that the consumerssee a $49.95 price as 'just above $40' and not as 'just below $50.
  71. observational research
    An extensive array of research methods used with the intention of observing consumer interactions with products and services in their natural surroundings. The main advantage to conducting observational research in business is that the consumer are often unaware they are being monitored allowing the researcher to make an objective analysis.
  72. New Product Development
    NPDthe creation of new products needed for growth or to replace those in the decline stage of their life-cycle; the stages in the new product development process are commonly listed as idea generation; screening; concept development and testing; the formulation of marketing strategies; business analysis; production; market testing; and commercialisation.
  73. need-directed consumers
    one of three broad groups of consumers (with outer-directed consumers and inner-directed consumers) identified in the Stanford Research Institute, as survey of American lifestyles. Need-directed consumers, representing about ten per cent of consumers in the U.S., are motivated by need rather than by choice.
  74. National Account Marketing
    the creation of marketing teams or groups (NAM Teams) within a company specifically to meet the needs of major client organisations; the teams or groups usually consist of marketing and sales personnel as well as engineers, production specialists, and so on.
  75. market share
    the percentage of the total sales of a given type of product or service that are attributable to a given company
  76. market saturation
    1. Point at which a market is no longer generating new demand for a firm's products, due to competition, decreased need, obsolescence, or some other factor.2. Measure of the extent of a product's sales volume relative to the number of total potential customers, expressed as a percentage. Formula: Sales volume of a product x 100 ÷ Number of total potential customers.
  77. market potential
    the estimated maximum total sales revenue of all suppliers of a product in a market during a certain period
  78. warranty
    a guarantee by a manufacturer that a product will be repaired or replaced or the purchase price refunded if it is found to be defective within a specified period, if it does not perform the task for which it was intended or if it does not meet the purchaser's reasonable expectations. See Express Warranty; Implied Warranty; Promotional Warranty; Protective Warranty.
  79. viral marketing
    Depends on a high pass-along rate from person to person. If a large percentage of recipients forward something to a large number of friends, the overall growth snowballs very quickly.
  80. unfocus group
    interviewing a diverse group of people
  81. trademark
    A distinctive name, symbol, motto, or design that legally identifies a company or its products and services, and sometimes prevents others from using identical or similar marks.
  82. to customize
    to tailor a product for a customer e.g. by adjusting the size, colour, features, etc.
  83. tier
    A tier is a row or layer of something that has other layers above or below it. e.g. a tier 1 supplier is a supplier who directly delivers merchandise to a manufacturer / retailer.
  84. target group
    Particular group of people, identified as the intended recipient of an advertisement or message. Also called target population.
  85. tangible
    with a physical existence.opposite: intangible
  86. survey research
    A method of sociological investigation that uses question based or statistical surveys to collect information about how people think and act. For example, a possible application of survey research to a business context might involve looking at how effective mass media is in helping form and shift public opinion.
  87. survey
    a sampling, or partial collection, of facts, figures, or opinions taken and used to approximate or indicate what a complete collection and analysis might reveal
  88. social responsible marketing
    Understanding broader concerns and the ethical, environmental, legal, and social context of marketing activities and programs.
  89. shadowing
    observing people using products
  90. semantic
    connected with the meanings of words
  91. segment
    is a group of customers or potential customers with similar characteristics
  92. screening
    Evaluating a large number of subjects to identify those with a particular set of attributes or characteristics.
  93. savvy
    well informed and perceptive
  94. role model
    A  person whose behavior, example, or success is or can be emulated by others, especially by younger people.
  95. reseller
    Someone who buys a product of a company and sells it further to a customer
  96. research instruments
    a testing device for measuring a given phenomenon
  97. relationship marketing
    building mutually satisfying long-term relationships with stakeholders.
  98. reinforcement advertising
    advertising intended to reassure purchasers, to tell them that they have done the right thing in buying the particular product and to explain how to get the best results and most stisfaction from its use; the purpose of reinfrcement advertising is to maintain market share.
  99. registered design
    a form of legal protection against the copying by a competitor of the external appearance of a product.
  100. refernce price
    The cost that consumers anticipate paying or consider reasonable to pay for a particular good or service. The marketing department of a business will often attempt to assess the reference price for each of the products or services they are promoting in order to set pricing levels appropriately to achieve their marketing goals.
  101. recall test
    A test of advertising effectiveness in which a sample of members of the audience are contacted at a specific time after exposure to a media vehicle and asked to recall advertising messages they remember seeing and/or hearing in the media vehicle.
  102. rebate
    syn. refundReturn of a portion of a purchase price by a seller to a buyer, usually on purchase of a specified quantity, or value, of goods within a specified period. Unlike discount (which is deducted in advance of payment), rebate is given after the payment of full invoice amount.
  103. reactive marketing strategies
    marketing activities forced upon an organisation by competitive action; defensive strategies.
  104. product mix width
    The number of product lines within a product mix.
  105. product mix
    The total group of products offered by an orgnaization.
  106. product line length
    The number of products available in a product line.
  107. product line depth
    The number of variations available within a product line.
  108. product line
    A group of closely related products - related through technical, marketing, or user considerations.
  109. product item
    A distinct product within a product line
  110. private label product
    also: retailer brand / own-label brandthose manufactured or provided by one company for offer under another company's brand.
  111. price bundling
    Technique of offering two or more complementary goods or services together as a package deal. Bundled items are sold at a price attractively lower than the total of their individual selling prices.
  112. price band
    A value-setting method in which a seller indicates an upper and lower cost range between which buyers are able to place bids. (Preisspanne)
  113. polling company
    a company which collect data
  114. point of sale
    Point at which a sale is made, the ownership (and usually the possession) is transferred from the seller to the buyer, and indirect taxes (such as VAT) become payable. Commonly, a retail outlet.
  115. manufacturer brand
    Common practice where a manufacturer markets a good or family of goods under its own brand name(s). The objective is to attract and retain satisfied-customers whose loyalty may be transferred to the manufacturer's other products.
  116. manner
    A way of doing  something or the way in which a thing is done or happens. (Art und Weise)
  117. mail order selling
    a system of retailing in which customers order merchandise, usually from a catalogue, by mail; the goods are shipped direct to the customer's home.
  118. loyalty programme
    A program designed to lower the turnover among users of a product or service by rewarding a customer with incentives or other benefits for remaining a customer, sometimes featuring a loyalty card.
  119. loss leader
    A product or service for which a company actually loses money, but which serves to attract customers.
  120. lifestyle brand
    embodies the values and aspirations of a group or culture. A successful lifestyle brand speaks to the core identity of its customers. Individuals each have their own sense of self, based on their background (e.g. ethnicity, social class, subculture, nationality, etc.).
  121. leaflet
    a small flat or folded sheet of printed matter, as an advertisement or notice, usually intended for free distribution
  122. access barriers
    factors such as tariffs and legal restrictions which reduce the size of a market by preventing potential customers from purchasing a particular product.
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Marketing English Glossary 5. Semester
2015-12-11 22:45:12
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