1.      Jobber: Synonymous with a wholesaler, a middleman who buys from manufacturers domestic or foreign and sells to retailers.

2.      Joint Venture: A form of participation in a given market by means of alliance with a local partner.

3.      Just-In-Time Delivery: An inventory control system that replenishes and delivers products to a retailer just as the current supply is depleted.

4.      Key Account: A large account receiving special treatment from salespeople, usually generating more than a pre-defined annual sales amount.

5.      Laissez Faire Leadership: A management style wherein sales managers supervise their sales personnel minimally and therefore have a low degree of involvement with them on a regular basis.

6.      Label:  The information attached to or on a product for the purpose of naming it and describing its use, dangers, ingredients, manufacturer, etc.

7.      Laggards: Last group of users to adopt an innovation.

8.      Launch Control: The process by which a management plans for and supervises the introduction of a new product, making corrections to the product as variances are detected so that original goals are achieved.

9.      Law of Comparative Advantage: This law states that a country tends to export those economic goods in which it has a comparative advantage and to import those economic goods in which it has a disadvantage.

10.  Law of Demand: The law that, other things being equal, consumers will buy more of a product at a low price than at a high price.

11.  Lay-Away: The purchase of an article with a down payment, while the store retains the article until full payment is made.

12.  Lead Generation: The process of collecting contact information and identifying potential sales leads.

13.  Leader Pricing: The pricing of products at lower than usual prices in order to attract shoppers.

14.  Lead Time: The amount of time determined by a merchandiser to be necessary to add on to the purchasing period, assuring that sufficient merchandise will be on hand until a particular order is received.

15.  Learning Curve: A graph that depicts rate of learning.

16.  Leverage: The ability to control large quantity amounts of a commodity with a comparatively small amount of capital.

17.  Lifestyle: The manner in which people conduct their lives, including their activities, interests, and opinions.

18.  Line Authority: The influence managers need to direct individuals assigned to them in order to achieve the goals for which they are held responsible by management.

19.  Line Extensions: A new product marketed by an organization that already has at least one other product being sold in that product or market area.

20.  List Price: The selling price for an item before any discounts or reductions in price.

21.  Living Standard: A measure of the possession and distribution of material goods among members of a society.

22.  Lobbying:  The process of trying to influence policymakers in favor of a specific cause.

23.  Local Advertising: Any promotion placed by a company, organization, or individual operating in a limited geographical area such as a city or state.

24.  Logo: A graphic design that is used as a continuing symbol for a company, organization, or brand.

25.  Mage: The consumer’s perception of a product, institution, brand, business, or person.

26.  Macroenvironment: The collection of uncontrollable forces and conditions facing a person or a company, including demographic, economic, natural, political, and cultural forces.

27.  Macromarketing: A type of marketing in which a company adapts itself to uncontrollable factors within the industry.

28.  Margin: The difference between the selling price and total unit costs for an item.

29.  Markdown: The amount of a reduction from the selling price of an item.

30.  Market Demand: The total volume of a given product or service bought by a specific group of customers in a specified market area.

31.  Market Segment: A group of consumers who respond in a similar manner to a given set of marketing initiatives.

32.  Market Segmentation: The process of subdividing a market into distinct subsets of customers that behave in similar ways or have similar needs.

33.  Market Share: The proportion of the total quantity of sales in a market that is held by each of the competitors.

34.  Marketing Mix: The combination of controllable marketing variables that a business uses to pursue the desired level of sales in a target market. The most common classification of these factors is referred to as the four-“Ps" – product, place, price, and promotion.

35.  Marketing Plan: A document containing an analysis of the current marketing situation, opportunities and threats analysis, marketing objectives, marketing strategy, action plans, and projected return on investment.

36.  Marketing Strategy: A plan developed by a firm for maximizing the firm's profit.

37.  Merchandise Mix: The ratio of the types, styles, sizes, colors, prices, etc. to the quantities of the merchandise kept in a store to satisfy its target market.

38.  Merchandising: The management of stock in sales outlets in order to ensure the display of the fastest selling products.

39.  Merchant: A business unit that buys, takes title to, and resells merchandise.

40.  Monopoly: A market situation where one firm markets all the goods or services available and can significantly influence price.

41.  Mood: An emotional state of an individual at a particular point in time.

42.  Motivation: The positive or negative needs, goals, desires, and forces that compel an individual toward or away from certain actions, activities, objects, or conditions.

43.  Nationalism: A devotion and allegiance to a group defined by the shared characteristics of a race, language, history, or culture.

44.  Natural Environment: The physical forces in nature including climate, weather, and natural resources that affects a firm's market or its ability to carry out marketing activities.

45.  Negative Advertising: The use of advertising messages that concentrate on pointing out undesirable aspects of competing products, services, organizations, or ideas.

46.  Negligence: Failure to act with the prudence that a reasonable person would exercise under the same circumstances.

47.  Negotiation: The process of trying to find mutually agreeable terms in an exchange.

48.  Norms: Statistics or tabular data that summarize the distribution of test performance for one or more specified groups, such as participants of various ages or grades.

49.  Observation: A method of data collection in which the situation of interest is watched and the relevant facts, actions, or behaviors are recorded.

50.  Obsolescence: The act or process of a product's becoming out-of-date, discarded.

 

 

1.      Account Executive: A person in an advertising agency who serves as the principal contact with clients, coordinating the work of agency.

2.      Ad: The name used to indicate an advertising message in the print media.

3.      Adittional Markup: The practice of adding a price increase on top of the original markup.

4.      Advertising Agency: An organization that provides a variety of promotion related services to clients seeking assistance in their advertising activities.

5.      Advertising Compaign: A group of advertisements, commercials, or related promotional activities that are used in conjunction to meet the specified objectives of a client.

6.      Algorithm: A mathematical formula which is used in order to rank websites and web pages.

7.      Area Sampling: A method of sampling in which the total area of interest is divided into sub-areas that are then randomly sampled. Each sub-area in the sample is completely enumerated.

8.      Art Director: A person who manages and instructs others on the proper use of visual elements including color, layout, and dimensión.

9.      Assortment: The range of choice offered to a consumer within a particular classification of merchandise.

10.  Attributable Costs: Fixed costs or variable costs incurred by and solely for a particular product, department, program, sales territory, or customer account.

11.  Attitude: A cognitive process involving positive or negative valences, feelings, or a variety of emotions.

12.  Audience: The number of persons or households who are exposed to a particular type of advertising media.

13.  Audimeter: An electronic monitoring device used to measure the time periods during which a television set is being used and the specific channel to which it is tuned into.

14.  Average Cost Per Unit: Calculated as the sum of fixed costs and variable costs at a given level of output, divided by the number of units.

15.  Average Variable Cost: Total variable cost divided by the number of units produced and sold.

16.  Balanced Scorecard: A model of business performance evaluation that balances measures of financial performance, internal operations, innovation and learning, and customer satisfaction.

17.  Body Copy: The text of a piece of print advertising that provides more detailed information than provided by headlines and subheads.

18.  Brand: A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers.

19.  Budget: An itemized forecast of an individual's or company's income and expenses expected for some period in the future.

20.  Capital Goods: The instruments of production that make up an organization's plant and operating capacity.

21.  Cash Flow: The cash generated by after-tax earnings plus depreciation minus cash used within the business.

22.  Catalog: A publication containing the descriptions of a number or range of products that is used to increase mail order sales, phone sales.

23.  Category Manager: An individual who reports to a marketing manager and is responsible for the marketing and maximization of total profit from a mix of several brands falling under a generic product category.

24.  Circulation: The number of copies of a print advertising medium that are distributed.

25.  Cohort: A group or band of people or a generational group as defined in demographics, statistics, or market research.

26.  Comparative Advantage: A term that relates to both the greater absolute advantages or the smaller absolute disadvantages that a country has in economic activities as compared with other countries.

27.  Comparative Advertising: An approach to an advertising message that persuades the audience by comparing the performance of two or more brands of a product or service.

28.  Competition: The rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix.

29.  Competitive Advantages: A total offer that is more attractive to customers than that of the competition.

30.  Consumer: The ultimate user of goods, ideas, and services.

31.  Consumer Behavior: The overt actions of consumers.

32.  Contract: The agreement between two or more people that creates an obligation to do or not to do a particular thing.

33.  Convergence: A marketing strategy that relies on the merging of two or more techniques, such as online and offline strategies.

34.  Copyright: An exclusive right to the production or sale of literary, musical, or other artistic work, or to the use of a print or label.

35.  Core Product: The central benefit or purpose for which a consumer buys a product.

36.  Corporate Culture: The patterns and norms that govern the behavior of a corporation and its employees, particularly shared values, beliefs, and customs.

37.  Customer Segment: A group of customers who share similar characteristics and are differentiated from other customer groups by qualities that are unique.

38.  Damaged Goods: Products that have been compromised in some way and do not function properly.

39.  Decentralized Management: The practice of delegating decision-making authority to lower levels of management or non-managers authorized to make decisions.

40.  Deflation: A contraction in the volume of available money or credit that results in a general decline in prices.

41.  Delivery Period: The normal time between the placing of an order and the receipt of the product, service, or stock.

42.  Departmentalizing: The process of classifying merchandise into sub-groups known as departments.

43.  Discount: A reduction in price of a particular item or service.

44.  Dumping: The practice of selling a product at a lower price overseas than domestically.

45.  Durable Good: A consumer good that is used over an extended period of time.

46.  Ecommerce: An internet-based business model that incorporates various elements of the marketing mix to drive users to a Web site for the purpose of purchasing a product or service.

47.  Feature: The use of advertising, displays, or other promotional activity by a retailer to call special attention to a product for a limited time.

48.  Flexible Pricing: A practice of selling the same product at different prices to different customers.

49.  Focus Group: A method of gathering qualitative data on the preferences and beliefs of consumers through an interaction and discussion among more than two individuals which is focused on a specific topic or product.

     

50.      Import Agent: A manufacturers' representative who specializes in the introduction of products into non-domestic nations.