KC Group: General

A component of the external influences on consumer buying behavior that represents the behavior, beliefs and way people act learned through interaction and observation of other members of society.

The third category within the Diffusion of Innovation consisting of up to one-third of the overall market who represent the beginning of the mass market and who are primarily characterized as liking new products but prefer to wait until they have received positive opinions for other (e.g., Early Adopters) before purchasing.

A repository of answers to commonly asked questions, product instructions or other information that customers may access online or over the phone.

In marketing this is web-based technology that allows real-time communication between customers and company personnel through the exchange of text messaging within a web browser.

A method for contacting sales prospects where a salesperson makes an unannounced first contact with the prospect with the intention of either scheduling a future appointment or giving a sales presentation during this first contact period.

Refers to market conditions where a certain percentage change (positive or negative) in the price of a product results in a larger and opposite percentage change in demand (i.e., purchases) for the product.

Information imprinted on Final Customer Packaging and Distribution Packaging that serves many functions such as promotion, offering product details and product purchase information (e.g., contains Universal Product Code).

Retail format represented by general or specialty merchandisers whose main strategy is to offer discount pricing and whose outlets offer few services and generally lower quality product than is available at higher-end retailers.

A concept in consumer buying behavior which relates to people or organizations within a group who a consumer looks to for advice or direction and, consequently, may hold influence on what a consumer purchases.

A market pricing method for setting a product’s initial price that is used when there are multiple products within a marketer’s product line and customers’ perception of difference is affected by the separation in prices for each item (e.g., low price, mid-price and premium price).