Market Index

Market Expansion Potential (MEP) – A term used in trade area analysis to estimate an area’s potential for creating new demand. Market Extension Strategies – A strategy of “extending i.e., using a country strategy from one country to another country. Market Factor – A feature or characteristic in a market that is related to the … Read more

Marginal Revenue

Marginal Propensity to Consume – The fraction of each extra dollar that consumers will spend on consumption, given an extra dollar of real income. Marginal Propensity to Save – The fraction of each extra dollar that consumers will save, given an extra dollar of real income. Marginal Revenue (MR) – the net change in total … Read more


Macro/Micro – A multistep, nested approach to industrial market segmentation, in which one moves from general macro criteria at the level of the organization, such as SIC code and size of the buying firm, trough criteria at the level of the organization, such as SIC code and size of the buying firm, through criteria at … Read more

Local Brand

Lobbying – A person or group of persons seeking to influence the proceeding of legislative bodies through personal intervention. Local Advertising – Any advertising placed by a company, organization, or individual operating in a limited geographical area such as city or within a state. Local advertising does not include advertising placed directly with media in … Read more


Leased Department – A section of a retail business managed and operated by an outside person or organization rather than by the store or which it is a physical part, whether conducted by an individual or a chain. Leasing – A contract through which the asset owner (lessor) extends the right to use the asset … Read more


Label – The information attached to or on a product for the purpose of naming it and describing its use, its danger, its ingredients, its manufacturer, and the like. A label is usually thought of as printed material, but labeling in the broader sense has been ruled to include spoken information and separates promotional pieces, … Read more

Job Lot

Inventory Overage – The value of physical inventory in excess of the book value. Inventory Policy – A firm’s standard practice regarding the level of inventory to be maintained. For example, it may be customary to hold a 60 or 90 day supply. Inventory Stock Shortage – The value of the book inventory in excess … Read more

Interindustry Competition

Intention – 1.(marketing research definition) Anticipated or planned future behavior. 2. (industrial definition) The decision to acquire specific goods and/or services under given terms and conditions. Intercept Merchandise – The merchandise that customers do not specifically go to a store to buy, but buy because the retailer intercepts them in the course of their store … Read more


Inner-Directedness – A system of values prevalent in production-oriented societies in which members of the society are taught specific value systems dependent on self-sufficiency and inner values. Innovation – In the marketing literature, innovation implies the introduction of a new product that is very different from the established products or at least perceived to be … Read more