A well-informed employee is the best salesperson a company can have. E. J. Thomas

Functional matrix

An organization option in which the matrix leans toward the functions. Participant have dual reporting relationships, but the functional reporting is intended to dominate the thinking and action.

Vertical sales organization

Organization that has several levels ofmanagement all reporting upward to the next level.

Gable end

In the context of outdoor advertising it refers to poster site on side-wall of house or shop.

Goodness-of-fit test

Statistical test employing χ2 to determine whether some observed pattern of frequencies corresponds to an expected pattern.

Visit duration (Web)

The length of time a user spends on a Web site during a visit, or the number of pages viewed at a Web site during a visit.

Advertorial

Lengthy print advertisements that are laid out to resemble editorial material, often it is difficult for readers to distinguish between the two.

Groupware

Online technologies that lead to collaboration and sharing between members.

Variety Store

A type of outlet or store that handles a wide assortment of inexpensive and popularly priced goods and services, such as stationery, gift items, women's accessories, health and beauty aids, light hardware, toys, house wares, confectionery items, etc.

Value added reseller (VAR)

Reseller who buys a product from manufacturer, adds value to it in the form of a modification, upgrade, system improvement and so forth, and sells the completed configuration to and end user.

External marketing

It refers to the marketing directed to people outside the company, particularly to the consumers.

Portfolio analysis

In the context of marketing it refers to how a firm determines the manner in which its strategic business units (SBUs) are distributed in relation to various factors that influence business success and to various measures of success.

Virtual value activities

The generic strategies which firms use to make information more valuable.

Knowledge structures

Organized systems of concepts relating to brands, stores, and other concepts

Spot rate

An exchange rate quoted for immediate delivery of foreign currency, usually within two business days. It is applied to interbank transactions that require delivery of the purchased currency within two business days in exchange for immediate cash payment for the currency. This exchange process is called settlement.

Limited problem solving

Limited search by a consumer for a product that will satisfy this or her basic criteria from among a selected group of brands.

Commodities

A term used to denote basic raw materials or agricultural products, which do not normally carry a brand name.

Virtuous cycle

A cycle of growth that produces positive returns. Each success in the loop promotes another success in another part of the loop.

Income receipts and payments on asset accounts

A component of current account balance that measures foreign investment in the home country and its investments abroad. For example, a dividend received by an Indian company from one of its subsidiaries fro other country is considered to be an income receipt. A dividend sent by, for example, Ford India to its parent company in US is considered to be an income payment.

Stimulus discrimination

The ability to select a specific stimulus from among similar stimuli because of perceived differences. Companies with well-established brand image try to encourage stimulus discrimination by promoting the unique attributes of their brands. Many times manufacturers of well established brands urge consumers not to buy “cheap imitation” because the result will not be what they expect.

Single segment concentration

One of the options available to the company in selecting the target market. Under this strategy, the company concentrates only on one segment with a specific marketing mix. From this strategy the company gains strong knowledge of the segment needs and achieves a strong market presence. Furthermore, the company enjoys operating economies through specializing its production, distribution, and PROMOTION. If it captures segment leadership, it can earn a high return on its investment. This strategy is also known as concentrated marketing.

Spurious brand loyalty

When a brand achieves a minimum level of satisfaction the consumer repurchases it on a routinized basis; the consumer appears to be brand loyal but is not.

Visual elements

The third major component of a print ad. The illustration is often a dominant part of a print ad and plays an important role in determining its effectiveness. The visual portion of ad must attract attention, communicate an idea or image, and work in synergistic fashion with the headline, and body copy to produce an effective message.

Procurement orientation

In the context of business buying behaviour this refers to purchasing orientation that a company adopts in its purchasing process. Here, the business buyers simultaneou sly seek quality improvements and cost reductions, buyers develop collaborative relationships with major suppliers and seek savings through better management of acquisition, conversion, and disposal costs. They encourage early supplier involvement in material handling, inventory levels, just-in-time management, and even product codesign. They negotiate long-term contracts with major suppliers to ensure the timely flow of materials.

Imputation estimates for nonresponse

One of the approaches available to the researcher for adjusting for nonresponse in a research project. In this approach the researcher adjust for nonresponse by assigning the characteristic of interest to the nonrespondents based on the similarity of the variables available for both nonrespondents and respondents.

Silent seller

Folder of press cuttings, advertisements, brochures, price lists etc. which a salesperson uses to show prospects features of the product and company.

Account potential

Advertising agencies employ this term to denote the share of an account’s/client’s business that the agency can reasonably expect to attract.

Physical distribution (marketing logistics)

The tasks involved in planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.

Country attractiveness-company strength matrix

A grid technique used by the companies who want enter foreign markets. This matrix highlights a country’s specific product advantage on a country-bycountry basis. The country attractiveness is plotted on one axis and company’s competitive strengths on other.

Foreign direct investment (FDI)

A market entry strategy in which a company invests in a subsidiary or partnership in a foreign market. Foreign direct investment entails some degree of control by the investor.

Vertical channel conflict

A type of channel conflict in which conflict arises between different levels of channel members within the same channel. For example, a company may come into conflict with its dealers in trying to enforce policies on service, pricing, and advertising.

Visible design rules

The specifications describing how modules must perform, and how they may interact.

Anticipatory pricing

A pricing practice that is followed by some companies, where it raises the prices by more than the cost increase in anticipation of further inflation or government price control.