Innovation

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 different by consumers in the relevant market segment. New products can be referred to as continuous innovations such as Crest spearmint toothpaste or Michelob light beer. Or they can be discontinuous innovations, a completely new product such as the electric light bulb or perhaps the computer.

Innovative Imitation – The strategy or practice whereby a firm’s new products are emulative of others already on the market but are significantly different in at least one aspect. The product differs from pure imitation, in which the new item is a “me-too” product or a total copy, and from an emulative product because the difference here is significant.

Innovativeness – 1. (product development definition) When applied to a buyer, the extent to which that person or firm is willing to accept the risks of early purchase of an innovation. 2. (consumer behavior definition) A personality trait designed to account for the degree to which a consumer accepts and purchases new products and services.

Innovators – Firms or person that are innovative. the term is often applied (1) to those who are the first to create a new type of product, or (2) to those who are the first to adopt a new product that has been introduced into the marketplace. Innovators are often thought to be opinion leaders.

Input Evaluation Measure – An objective measure of amount of efforts or resources expended by the sales force, including the number of sales calls; amount of time and time utilization; expenses; and non-selling activities such as letters written, number of phone calls made, and number of customer complaints received.

Inquiry – A customer’s request for additional information about a product or service. Comment: Inquiries are often generated through advertising in which a customer can request additional information by mailing a card or coupon.

Inquiry Test – A method of testing the effectiveness of an advertising message and/or media vehicles based on the number of customer inquiries that can be directly attributed to the message by means of coupons attached to the ads or special telephone numbers or code numbers used in ads or commercials.

Inside Salesperson – A salesperson who performs selling activities over the telephone at the employer’s location. Comment: An inside salesperson typically answers questions and takes orders; however, there is a growing trend for an inside salesperson to actively solicit orders.

Installations – These are non-portable major industrial products such as furnaces and assembly lines that are bought, installed, and used to produce other goods and services. They are often grouped with accessory equipment to comprise capital goods. They also are called heavy equipment.

Installed Base – The number of units of a durable product in use at the customers’ premises. The term is used for equipment such as computers and copiers.

Installment Account – The resulting charge account of a customer who has purchased on an installment-credit plan; i.e, pays a down payment and specified amount per month including a service charge. The customer has a use of the merchandise during the life of the installment account.

Installment Sale – A sale of real or personal property for which a series of equal payments is made over a period of weeks or months.

Installment-Credit Plan – A plan enabling customers to pay their total purchase price (less down payment) in equal installment payments over a specified time period.

Institutional Advertising – An advertising message or advertising campaign that has the primary purpose of promoting the name, image, personnel or reputation of a company, organization, or industry. When employed by a company or corporation it is sometimes called corporate advertising.

Institutional Boundary – A market area that is defined by governments (e.g., tariffs, post office districts) or by firms in order to restrict spatial competition (e.g., dealerships.)

Institutional Market – The market consisting of churches, museums, private hospitals, schools and colleges, clubs, and many other organizations that have objectives that differ basically from those of traditional business organizations.

Institutional Marketing – The marketing of goods and services to the institutional market.

Institutional Signage – That signage that describes the merchandising mission, customer service policies, and other messages on behalf of the retail institution.

Institutionalization – In social marketing, creating the conditions under which a behavior-change program is continued beyond its initial campaign. Comment: Institutionalization is of major concern to agencies funding social marketing programs in developing countries that wish to terminate program support but see the effects continue.

Instrument Variation – Any and all changes in the measuring device used in an experiment that might account for differences in two or more measurements.

Instrumental Function of Attitudes – A function of attitudes that provides the maximum benefits and the minimum costs to the individual. Instrumental attitudes are those that provide the individual with more rewards than punishments. These attitudes are usually based on attributes of the attitude object and thus the instrumental function is highly similar to Fiesbein’s learning theory of attitudes. It is also referred to as utilitarian function of attitudes or adjustive function of attitudes.

Instrumentality – A salesperson’s estimate of the likelihood that higher levels of performance will lead to his or her receiving greater rewards. In essence, it is the linkage between salesperson performance and attainment of various rewards. For example, A salesperson might estimate that there is a 25 percent probability (instrumentality) of his or her receiving a pay raise if he or she achieves quota. Instrumentalities can influence a salesperson’s level of motivation.

Integrated Development – A process of combining diverse organizational talents and functional groups to support a new product’s development. Also called cross functional integration, integrated development requires regular, high quality communication and problem-solving among the different contributors to the new product development process.

Integrated Division – Thus division contains both marketing and production functions, thereby providing the division manager coordination and control of the principal factors affecting profits.

Integrated Marketing Communications – A planning process designed to assure that all brand contracts received by a customer or prospect for a product, services, or organization are relevant to that person and consistent over time.

Integrated Service Provider – A for-hire firm that performs a range of logistics service activities such as warehousing, transportation, and other functional activities that constitute a total service package. The majority of these firms customize the service package to meet individual customer needs.

 

 

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