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Development Stage of PLC
Stage within the Product Life Cycle which occurs before a product is introduced to the market and is principally a time for honing the product offering and preparing the market for the product.
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.
Above Competition Pricing
A competitive pricing method in which initial price is set at levels intended to be above competitors' prices.
Breakeven Pricing
A cost pricing method used to set a product's initial price that is used in association with Breakeven Analysis and the determination of minimum sales levels needed at different pricing points in order for a company to cover fixed costs.
Target Marketing
A strategic approach in which an organization attempts to get the most from its resources by following a planned procedure for identifying customers who possess the greatest potential to respond to the marketer's efforts and help the marketer meet objectives.
Research Validity
A concept related to carrying out research that is concerned with whether the research is really measuring what it claims to be measuring.
Product Positioning
Relates to marketing efforts that are intended to affect customers perception of the marketers offerings (e.g., products, company image) when compared with how customers perceive competitors offerings.
Partial-Service Research Firm
Research companies that offer expertise addressing a specific part of the research plan, such as developing methods to collect data (e.g., design surveys) locating research participants or undertaking data analysis.
Minor Re-Purchase Decision
Type of consumer purchase decision in which purchases are routine and often the consumer purchases the same product without consideration for other product or brand options.
Markdowns
A form of promotional price adjustment that offers a product at a price considered to be lower than the normal selling price such as temporary sale pricing and lower pricing intended to remove extra inventory.