Tariff – A published set of rates for transportation and distribution services.
Tariff System – The system of duties applied to goods and services from foreign countries. It may be a single rate of duty for each item applicable to all countries or groups of countries or two or more rates applicable to different countries or group of countries.
Task Force, in New Product Development – This task force (or team) is established for a new product idea to shepherd it through the various development stages until it is abandoned or approved for commercialization. The task force is composed of personnel (on loan, full time or part time) from departments such as marketing. research and development, and finance. Other specialists may join the task force as needed. The task force disbands when the project is abandoned or when commercialization is authorized. Comment: The advantage of the task force is that disagreements among functional specialists are more readily resolved when members must work together to achieve goals. Also, they have direct communications with their own functional departments which have new product assignments. The disadvantage is that there may not be enough competent people to staff the task forces assigned to the many new product projects going on to the many new product projects going on at the same time.
Team Selling – The practice of involving a group of people familiar with the view points and concerns of key decision makers of the customer’s organization to sell and service a major account. Comment: This is especially prevalent in the sale of complex industrial products, where a particular salesperson cannot be an expert on all aspects of the purchase process.
Tear Sheet – An advertisement torn from a newspaper or magazine, sent to an agency or advertiser as evidence of insertion.
Technological Base – The technical skills and equipment available to a country for converting its resources to a standard of living.
Technological Change – The discovery and application of new products, new and improved machines, tools, equipment and method of production.
Term of Access – All the condition that apply to the importation of goods manufactured in a foreign country such as import duties, import restrictions or quotas, foreign exchange regulations and preference arrangements.
Terms of Purchase – The condition in a purchase agreement with a vendor that include the type(s0 of discounts available and responsibility for transportation costs.
Terms of Sale – The conditions in a sales contract with customers including such issues as charges for alterations, delivery, or gift wrapping, or the store’s exchange policies.
Territorial Allocation – the rights given to the wholesaler or retailer (by the manufacturer) to sell the manufacturer’s product or brand in a defined geographic area that is, at least to some extent, removed, isolated, or protected, from other wholesalers and retailers also selling the manufacturer’s items.
Territory Management – The development and implementation of a strategy for directing selling activities toward customers in a sales territory aimed at maintaining the lines of communications, improving sales coverage, and minimizing wasted time. territory management includes the allocation of sales calls to customers and the planning, routing, and scheduling of he calls.
Territory Potential – An estimate of the maximum possible sales opportunities that could be realized in a sales territory.
Tertiary Trade Zone – The outermost ring of a trade area. It includes customers who only occasionally shop at a store or shopping center. It is also known as fringe trade area.
Test Market – The trading area selected to test a company’s new or modified product, service, or promotion.
Test Marketing – One form of market testing. It is usually involves actually marketing a new product in one or several cities. The effort is totally representative of what the firm intends to do later upon national marketing (or regional market rollout). Various aspects of the marketing plan may be tested (e.g., advertising expenditure level or, less often, product from variants), by using several pairs of cities. Output is a mix of learning, especially a sales and profit forecast. In some areas, test marketing is currently being stretched to include scanner market testing, in which the marketing activity is less than total, but the term is best confined to the full-scale activity.
Third Party Provider – A for-hire firm that performs logistics service functions such as warehousing and transportation. The majority of these firms customize their offerings to meet individual customer needs.
Third Sector – Collectively, all private nonprofit marketers.
Thumbnail – A rough sketch of the layout for a piece of print advertising.
Time Rate of Demand – The quantity of product that the market will absorb at a particular price per period of time.
Time Series – The historical records of the fluctuations of economic variables.
Time Series Analysis – An approach to developing a sales forecast that relies on the analysis of historical data to develop a prediction for the future.
Time Utility – The increased satisfaction created by marketing through making products available at the time consumers want them.
Tip Sheet – A summary material to be covered in a publicly interview or photo shoot.
Token Order – The placing of a small order with the possibility of a larger one in the future.
Ton-Mile – A transportation term denoting movement of one ton, i.e., 2,000 pounds, one mile.
Total Cost (TC)– 1. (economic definition) The sum total fixed cost and total variable cost for a given level of output. 2. (physical distribution definition) In a physical distribution system, total cost includes all the costs of transportation, warehousing, order processing, packaging, etc.