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Diffusion of Innovation
A concept that explains how information and acceptance of new products spread through a market.
Family Branding
A branding strategy in which products are given brand names that are closely connected or share the same overall name as an existing brand.
Indirect Distribution System
A distribution design where a marketer reaches the intended final customer by distributing a product indirectly through resellers who generally take ownership of the product and in doing so the resellers assume many responsibilities to help sell the product.
Market Pricing
A process for setting the initial price for a product that relies on analysis of market research to determine what customers perceive as an acceptable price and includes such methods as Backward Pricing, Psychological Pricing and Price Lining.
Modified Re-Purchase
A type of business purchase decision in which a buyer, who previously gave little consideration for alternatives when purchasing a certain type of product, has now decided to consider other options thus increasing the chances of purchasing from a new supplier.
Perceptual Filter
A component of the internal influences on consumer buying behavior that affects, through both conscious and subconscious processes, how a consumer perceives the world.
Promotion
Key component of the marketer's toolkit that represents decisions on the methods (e.g., advertising, personal selling, public relations) and strategies needed to communicate with a target market.
Resellers (a.k.a. Intermediaries, Distributors, Dealers)
Members of a distribution channel who purchase products from the marketing company with the intention of selling to others and includes retailers, wholesalers and industrial distributors.
Technical Specialists
A sub-category of the sales support sales classification that consists of those who offer expertise to assist other salespeople in the selling process.
Business Equipment Sales
A type of new business development primarily found in industries where profits come from the sale of supplies and services that support a main product (e.g., business equipment) and where salespeople focus on getting buyers to purchase the main product.