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Psychographics
Used in marketing for market segmentation, this variable describes and groups customers by combining psychological characteristics (e.g., personality, attitude, lifestyle) with demographic characteristics (e.g., age, gender, income level).
Catalog Retailers
Retail format represented by retailers that provide product information to customers within a mailed catalog or website, and allow customers to place orders via phone, through regular mail or online, and then deliver orders via a third-party shipper.
Advocacy Advertising
A type of advertising intended to influence a target audience on some matter, such as political or social issue, that also impacts the marketing organization.
Cost Pricing
A process for setting the initial price for a product that primarily looks at production costs as the key factor for setting price and includes such methods as Markup Pricing, Cost-Plus Pricing and Breakeven Pricing.
Innovation
Anything new that offers solutions to needs by providing a significant advantage (e.g., more features, ease of use) over existing products, services or methods.
Franchise
Retail format represented by a contractual arrangement in which franchisees (i.e., retail store operator) agree to pay for the right to use a franchisor's (i.e., retail business owner) business methods and other business aspects such as the franchise name.
Distribution
Key component of the marketer's toolkit that represents decisions on the activities and strategies needed for the exchange and movement of products (goods or services) between the marketing company and the final customer.
Cost-Per-Action (CPA)
Metric for assessing advertising expenditure determined by dividing the total cost for a certain advertisement by how many people actually responded (e.g., purchase activity, phone inquiries, website traffic, etc.) within a specified time after the promotion was delivered.
Agents (also Brokers)
A specialty service firm found within a marketer's channel of distribution that, for a fee, works to bring the marketer together with buyers.
Category Killers
Retail format represented by retail chains that have taken what were previously small, narrowly focused specialty stores and expanded these to create large specialty stores.