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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.
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.
Missionary Selling (also Product Detailing)
A sub-category of the order influencer sales classification in which salespeople make sales calls to those who influence others, through advice or requirements, to make purchases the most common of which are found in the pharmaceutical and higher education textbook industries.
Market
From a marketers perspective, consists of all people and/or organizations possessing the necessary qualification for making a purchase or otherwise developing a relationship with the marketer.
Independent Channel Arrangement (also Conventional Distribution)
A non-binding arrangement between channel members to engage in a business relationship that allows channel members to move away from the relationship if they feel it is not in their best interest.
External Forces
Factors considered outside the control of marketers but that potentially influence marketing decision-making and include demographics, economic conditions, governmental environment, influential stakeholders, cultural and social change, innovation and competitors.
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.