Category: Glossary

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…

Sequence Bias

Sensitivity Coefficient – The average percentage change in consumption corresponding to a 1 percent change in disposable personal income. Sequence Bias – The distortion in the answers to some questions on a questionnaire because the replies are not independently arrived…

Season Dating

Screening of Ideas – The step just prior to research and development and systems design in the product development process. It involves use of scoring models, checklists, or personal judgments and is based on information from experience and various market…

Sample Survey

Sales Report – A report submitted by salespeople that tells management what is happening in the field. Most managers expect salespeople to report competitive activities, reactions of customers to company policies and products, as well as any other information management…

Sales Quota

Sales Demonstration – An aspect of the sales presentation that provides a sensory appeal to show how the product works and what benefits it offers to the customer. Sales Engineer – A salesperson who has extensive product knowledge and uses…

Sales Analysis

Reverse Logistics – The process of returning products in a physical channel. In many logistics systems, there are two way flows of product and service. In some systems, products must be returned to a central location for repair and refurbishing.…

Reseller Market

Reseller Market – A market composed of the individuals and organizations that acquire goods for the purpose of reselling or renting them to others at a profit. Reservation Price -The highest price a buyer is willing to pay for the…

Reference Price

Reference Price – The price that buyers use to compare the offered price of a product or service. The reference price may be a price in a buyer’s memory, or it may be the price of an alternative product. Referral…

Ratio Scale

Rating – The percentage of the total potential audience who are exposed to a particular media vehicle. In television, a rating is the number of households with their television sets tuned to a particular program for a specified length of…

Q-sort Technique

Pure Competition – A market model in which (1) a lower price is the only element that leads buyers to prefer one seller to another, and (2) the amount that each individual seller can offer constitutes such a small proportion…