Stakeholder

Social Impact of Marketing – The external effects of the processes and outcomes of marketing on the well-being of society in general or specific population segments. Comment: The economic term “externalities” connotes the same effects. The social impacts may be positive or negative. Examples of general impacts would be the effects on public health of the promotion of cigarette smoking. Segment impacts would be advertising portraying the elderly as forgetful, frightened, and physically infirm; or racially discriminatory real estate marketing. These would be negative impacts. An example of a positive impact would be automobile commercials that portray drivers as always wearing seat belts.

Social Indicator – Information in the form of statistical data and statistical series that can be used for social audit purposes. The data and information that facilitate the evaluation of how well a society or institution is doing in relation to social values and goals.

Social Man – A person whose buying decisions are highly influenced by sociological factors.

Social Marketing – (environment definition) The branch of marketing that is concerned with the use of marketing knowledge, concepts, and techniques to enhance social ends, as well as the social consequences of marketing strategies, decisions, and actions. 2.(social marketing definition) Marketing designed to influence the behavior of a target audience or to the society in general and not to the marketer. Comment: Social marketing is sometimes confused with social impact of marketing. Social marketing can be carried on by for-profit, public, and private nonprofit organizations or by individuals. Examples would be attempts to influence individuals to stop smoking (by the private nonprofit American Cancer Society) or report crimes (by the public U.S. Department of Justice). An attempt of one friend to influence another to go on a diet is also social marketing.

Social Marketing Perspective – The orientation or perspective that focuses on social purposes and reflects on whether or not a company should market a good or a service as compared to whether or not it can do so economically.

Social Marketing Report – A report on those marketing activities that have social impact, usually in form of disclosures to relevant public, overall rating schemes, or internal performance review.

Socialization – 1. (consumer behavior definition) A process by which an individual learns the values and appropriate behavior patterns of a group, institution, or culture. 2. (consumer behavior definition) The process by which an individual is acculturated into the mores, norms, values, and beliefs of a society or subdivision. It is often applies to the learning and conditioning of children.

Sortation – The general process in materials handling of sorting packages by origin or destination. Sortation is a generic word that describes a process of breaking down shipments into specific destinations, based on customer locations or other destination designators.

Sorting – A function performed by intermediaries in order to bridge the discrepancy between the assortment of goods and services generated by the producer and the assortment demanded by the consumer. This function includes four distinct processes; accumulation, allocation, assorting, and sorting out.

Sorting Out – A sorting process that breaks down a heterogeneous supply into separate stocks that are relatively homogeneous.

Sourcing – 1. (global marketing definition) The what, where, and how of production to supply the customers targeted in the marketing plan. 2. (industrial definition) Another term for procurement. Single, dual, and multiple sourcing refer to the number of suppliers from whom one buys a particular product.

Specialty Product – A product that has unique attributes or other characteristics that make it singularly important to the buyer. Multiple-store searching, reliance on brand, and absence of extensive product comparisons are the rule. Cigarettes, deodorants, and specialized insurance policies are examples.

Specialty Store – 1. A store that handles a limited variety of goods, as compared to single-line store, as distinct from a department store. 3. Increasingly, a store that caters to narrowly defined core customer target markets.

Specialty Wholesaler – A wholesaler who stocks a narrow range of products, not often a grate depth of assortment choice.

Specific Duties – These duties are expressed as a specific amount of currency per unit of weight, volume, length, or a number of other units of measurement.

Spot Market – The market for immediate delivery or, in the interbank market, for delivery within two business days of the transaction.

Stakeholder – One of a group of public with which a key company must be concerned. Key stakeholders include consumers, employees, stockholders, suppliers, and others who have some relationship with the organization.

Standard Advertising Unit (SAU) – The system of standard sizes of newspaper space adopted by newspapers in order to introduce a measure of uniformity to the complex process of buying space in a variety of newspapers in an assortment of market areas.

Standard Package – In some trades, custom or law has stipulated one or several package sizes that the goods are customarily sold in. Bread and sodas are typical, though few product categories today adhere only to the standard sizes.

Standard Test Market – A market in which companies sell their products through normal distribution channels when testing these products or the marketing efforts supporting these products.

Standing Order – An arrangement with a vendor to make shipments periodically in specified quantities in which the vendor may be authorized to ship a certain quantity each month or week for a set period.

Staple Good – A convenience product such as sugar or potatoes that is bought often and consumed routinely. Staples often offer little differentiation and are sold importantly on the basis of price. These sometimes are called commodity products, but industrial products can be commodities, too.

Staple Merchandise – The merchandise for which a fairly active demand continues over a period of years and which the retailer finds necessary to carry continually in stock.

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