Brainstorming – Brainstorm: a sudden, often “unconnected” notion. Method of generating ideas in a group based upon unrestrained thinking and maximum use of imagination. Usually members of the group come up with as many ideas as possible by building on each others’ ideas. Afterwards a selection of what is useful is made. A brainstorming session is usually short (less than one hour); the group consists of a small number of people (ten the most). The leader stays in the background as much as possible, and he structures the discussion so that the target is kept in sight.
Brand Share -Syn: Market share/Penetration
See: Market share
Buyer – Syn: Purchasing agent
Individual responsible for purchasing products and services for his organization. He may be a member of a decision-making unit (D.M.U.). See also: Decision-making unit
Buyer’s Market – A situation in which buyers have more “power” than sellers and are, to a certain degree, able to dictate prices. Often case when a market is over-saturated by (for example) hi-fi stereo equipment, cars, food stuffs, etc. The market has turned “soft” because there are too many products available. See also: Seller’s Market
Buying Behavior – The way in which buyers actually make purchases. Can occur according to a regular pattern (bottled beer every Wednesday) or happen only once in a lifetime (house purchase). Involves a great number of factors that in one way or another describe the purchasing process — for example, the difference between sales prices in one product group between competitive products.
Buying Frequency – Syn: Frequency of purchase See: Frequency of purchase
Buying Habits – The more or less fixed behavior pattern of certain or all buyers in the buying of certain products or brands at certain times and in certain places. One can distinguish the following elements: family members motivating or making purchase; purchase frequency; purchase volume; outlet, brand and product loyalty;purchase plan; impulse; habits; choice on basis of appearance, product characteristics, price, packaging, seasonal behavior; influence of discounts, coupon; etc.
Buying Motive – The reason(s) for purchase of a particular brand or product. Diverse reason can motivate purchase such as replacement price, quality, availability, status, etc.
Buying Process – The whole procedure that involves the purchasing of a product or service (includes outlet choice, signing of contract, payment, etc.).
Charm Price – Syn: Marketing Management See: Marketing Management
Competition – The existence or action of other companies, organizations, products or brands on a market. Competition exists only when it is considered (subjectively) as such. It is also dependent upon the definition of the market.
Competitive Analysis – A special case in a strength-weakness analysis, in which only those aspects of a company are taken into account in which direct comparison with the competitor is possible. See also: Strength-weakness analysis
Competitive Profile – A strength-weakness profile of the most successful competitors in a particular area. See also: Strength-weakness profile
Consolidation – Maintaining one’s hold on a certain market share; maintaining brand awareness among a certain consumer group. See also: Market share/ Name awareness
Consumer – Syn: User
The user of goods and services. The consumer can be not only an individual but also a family, household, or organization that purchases and uses goods and services. By consumer is usually meant the end or final user. (the non-end consumer purchases goods and services for third parties by selling to others their consumption). The consumer is generally the buyer of the product or service, though this is not always the case ( for example, the housewife who buys seed for her canary or sweets for her children). The consumer is a basic concept in marketing and advertising.
In research, consumers are often distinguished by many socio-economic characteristics such as standard of living, age, sex, family size, education, profession, geographical region, etc. or by psychographical characteristics. See also: Consumer behavior/ Socio-economic characteristics/Psychographics
Consumer Behavior Model – Theoretical model showing how a consumer decides on a purchase and which factors affect that decision. Well-known models are the Howard-Sheth and the Kollat. Engel & Blackwell.
Consumer Councils – Syn: Consumer unions/Consumer protection groups
See also: Consumer unions
Consumer Decision Model – A model showing how the “ideal” or “perfect” consumer arrives at a decision to purchase, by means of a rational process. This universal model can be subdivided into following stages:
Stage 1: Need awareness
Stage 2: Shopping around (e.g.’reading advertisements)
Stage 3: Weighing up the factors (e.g., quality, price, etc.)
Stage 4: Decision to purchase
Stage 5: Post purchase (service, service promised by dealer, etc.)
Stage 6: Utilization (consumption, driving car, living in house, etc.)
Most consumers, however, have neither the time nor the inclination to complete all the stages of this cycle.
See also: Decision model
Consumer Protection – The legal protection of consumers and buyers. Here can be included the obligation to non-misleading advertising, accurate product information on packaging, decision delay on door-to-door sales, guarantee periods, etc. Consumer protection is still, in many countries, in its infancy. It is to be still better protected by judicial means against biased commercial communication, offers, products and services. See also: Consumer/Consumer councils/Consumer unions