Perceived Role Accuracy – The degree to which the salesperson’s perception of role set members demands-particularly company superiors- is accurate.
Perceived Role Ambiguity – The degree to which a salesperson feels he or she does not have the information necessary to perform the job adequately. The salesperson maybe uncertain about what some role set members expect of him or her in certain situations, how he or she should go about satisfying those expectations, or how his or her performance will be evaluated and rewarded.
Perceived Role Conflict – The degree to which a salesperson believes that the role demands of two or more members of his or her set are incompatible.
Perceived Role Overload – The degree to which a salesperson believes that he or she has more to accomplish than is possible given the time available.
Perceived-Value Pricing – A method of pricing in which the seller attempts to set price at the level that the intended buyers value the product. It is also called value-in-use pricing or value-orientated pricing.
Percent-of-Sales Budgeting – An advertising budget method in which advertising expenses are established as a fixed percentage of past, current, or future sales levels.
Perception – Based on prior attitudes, beliefs, needs, stimulus factors, and situational determinants, individuals perceive objects, events, or people in the world about them. Perception is the cognitive impression that is formed of “reality” which in turn influences the individual’s actions and behavior toward that object.
Perfect Competition – A market model that assumes pure competition plus perfect knowledge, perfect freedom of movement, and perfect substitutability of the factors of production.
Periodic Inventory System – An inventory system in which orders are placed at scheduled intervals (e.g., first day of month) but the amount of product ordered will be variable.
Peripheral Route to Persuasion – One of two types of cognitive processes by which persuasion occurs. in the peripheral route, the consumer does not focus on the product message in an ad but on other stimuli such as attractive or well-known celebrities or popular music. The presence of these other stimuli may change the consumer’s beliefs and attitudes about the product.
Permanent Income Hypothesis – A hypothesis that postulates that consumption patterns are relatively stable over time, or that consumer expenditures are based on average income expectations over time.
Perpetual Inventory System – A stock control system that is designed to keep continuous track of all additions and deletions to inventory.
Person Marketing – Marketing designed to influence target audiences to behave in some positive manner with respect to the positions, products, or services associated with a specific person. Comment: Attempts by an individual or organization to educate target audiences or change their attitudes about a person are not marketing.
Personal Consumption Expenditure – The aggregate amount spent each year by consumers to buy goods and services from the marketplace.
Personal Disposable Income – Current money income less all taxes and money spent for the purchase of necessities.
Personal Income – 1. The national income adjusted for corporate profits and government transfer payments. 2. The current income received by persons from all sources less contributions for social insurance -e.g., Social Security.
Personal Influence – the influence of one individual upon another in face-to-face interactions. it is the informal social influence transmitted among peers.
Personal Interview – A direct, face-to-face conversation between a representative of the research organization (the interviewer) and the respondent or interviewee.
Personal Relationships in Organizational Buying – Personal relationship in business marketing have a strong influence on organizational buying behavior. Positive or negative relationships between members of the buying and selling organizations often represents the deciding factor in supplier’s choice.
Personal Savings – (environments definition) The part of disposable personal income that is not for current consumption purposes. 2. (economic definition) That part of disposable personal income that is not spent on taxes or consumption.
Personal-Selling – Selling that involves a face-to-face interaction with the customer.
Personality – An individual’s consistency in coping with one’s environment. Personality is the consistent pattern of responses to the stimuli from both internal and external sources. It is this consistency of response that allows us to type people as aggressive or submissive, as obnoxious or charismatic. The particular theory or philosophy of motivation and personality held by scholars in this field colors their views, research, and even definitions of the term. Nevertheless, ” a consistent pattern of responses in coping with perceived reality” is a good working definition.
Persuasion – the changes in consumers’ beliefs and attitudes caused by promotion communications.
Phantom Freight – This occurs in basing point pricing when the seller quotes a delivered price that includes a freight charge greater than the actual transportation costs.
Physical Distribution – A concept or approach to managing the finished goods inventory of the firm. Typically it includes transportation, warehousing, inventory, and order processing functions of the firm.
Physical Distribution Agency – The third party provider that supports the physical distribution objectives of the firm. This may include transportation companies, public warehousing companies, and companies that manage information flows between buyer and seller as third party intermediaries.
Physical Distribution Manager – This manager (increasingly referred to as logistics manager) plans the flow of materials in a manufacturing organization (beginning with raw materials and ending with delivery of finished products to channel intermediaries or end customers) and coordinates the work of departments involved in the process, such as procurement, transportation, manufacturing, finance, legal, and marketing. In the more limited marketing sense, physical distribution management is concerned with the efficient movement of finished product from the end of the production line to customers. This is usually a staff position, reporting to corporate or division management, with the functional authority needed to coordinate the execution of distribution plans by functional departments so as to provide good customer service at acceptable cost.