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Marketing Management

(SML760)

Marketing Weapons (Marketing Terms)

Course Co-ordinator: Dr. Mahim Sagar

(For limited circulation only)

Above-the-line marketing
DESCRIPTION
Marketing comprised of activity that, traditionally, entails commission charges by advertising agencies
which, mainly, comprises mass media advertising.
Absorptive capacity
DESCRIPTION
A conceptual term characterizing a rms ability to recognize value in information arising outside the
rm, internalize and assimilate such information, and apply it for commercial purposes.
Adaptation
DESCRIPTION
The process or strategy of adapting or tailoring an otherwise standardized product or service offering to
meet the needs and preferences of a particular market or set of consumers, where such markets and
consumers are typically examined and managed within an international marketing context.
Adopter categories
DESCRIPTION
Categorical classications of individuals or organizations according to when they adopt new product(s)
in comparison to others.
Adoption process
DESCRIPTION
The process by which a consumer adopts a new product or service.
Afliate marketing
(also called referral marketing, many-to-many marketing, partner marketing, pay-for-performance
marketing, performance-based marketing, or revenue-sharing marketing)
DESCRIPTION
The use of a revenue sharing partnership between a merchant and one or more afliated or partner rms
where the afliates are paid for referring or leading consumers to the merchant and/or when consumers
subsequently purchase from the merchant.
Ambush marketing
DESCRIPTION
Marketing intending to give an impression to consumers that a rm or brand is ofcially associated with
an event or cause when, in fact, it is not.
Below-the-line marketing
DESCRIPTION
Marketing comprising of activity that, traditionally, is commission free or charged at a xed fee by
advertising agencies which, mainly, excludes mass media advertising.
Blog marketing
DESCRIPTION
Marketing through the use of a website primarily composed of personal or professional observations and
in journal or diary format.

Boomerang effect
DESCRIPTION
A hypothesis or theoretical effect of persuasive communications where the end result is an attitude
change by individuals in the direction opposite to that intended.
Bounded rationality
DESCRIPTION
Partial rationality in individual decision-making behavior as a result of it being bounded by the
limitations of individuals in their ability to handle the complexities of information available to them as
well as limitations in the availability of information to such individuals.
Brand equity
DESCRIPTION
The marketing and nancial value that is built up and associated with a brand.
Brand loyalty
DESCRIPTION
The extent of consumer preference for a brand in comparison to close substitutes.
Brand positioning
DESCRIPTION
The distinctive position adopted by a rms brand in relation to competing brands.
Business-to-business marketing
(also called B2B marketing, business marketing, industrial marketing, organizational marketing, and
trade marketing)
DESCRIPTION
The marketing of products and services by one organization to another and where such products and
services are typically used in the production of other products for resale purposes or in support of
service offerings provided to other customers.
Cannibalization
DESCRIPTION
The situation where the result of a rms new product introduction is a reduction in sales of its existing
products.
Category killer
DESCRIPTION
The term given to any generally large retail store that specializes in deep assortments of one or more
product lines and which complements such offerings with a highly knowledgeable sales oor staff.
Cause-related marketing
(also called cause marketing or social cause marketing)
DESCRIPTION
A marketing approach whereby an organization associates itself publicly with a particular cause,
demonstrating support for it through activity that may include the donation of time, money, or expertise.
Celebrity marketing
DESCRIPTION
Marketing involving the use of a widely known person.
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Cognitive dissonance
DESCRIPTION
A state of psychological discomfort where an individual has cognitions which are inconsistent
Cognitive theory
DESCRIPTION
Theory or theories aimed at understanding and explaining the relationship between mental processes and
social behavior.
Collaborative marketing
DESCRIPTION
Generally, the process of working together with customers to create value in marketing exchanges and
where customers may be an integral part of a rms marketing activities.
Commercial marketing
(also called for-prot marketing or private sector marketing)
DESCRIPTION
Marketing by an organization engaged in commerce where the emphasis is primarily on organizational
prot making.
Concurrent marketing
(also called integrated marketing)
DESCRIPTION
Marketing characterized by the systematic and simultaneous integration, planning, and development of
marketing activities implemented by a rm over time
Conspicuous consumption
DESCRIPTION
Purchasing or consuming goods for the purposes of displaying status or wealth and impressing others as
opposed to satisfying a utilitarian need.
Consumer marketing
(also called business-to-consumer marketing or B2C marketing)
DESCRIPTION
Marketing aimed at the consumers who are making marketplace decisions about a product or service and
who are typically also users of the product or service.
Cooperative marketing
(also called comarketing, cross-marketing, joint marketing, partnership marketing, reciprocal marketing,
or symbiotic marketing)
DESCRIPTION
Alliances between organizations for sharing in the responsibility of marketing their respective offerings
with the aim of achieving a common objective.
Cross-cultural marketing
DESCRIPTION
Marketing concerned with efforts to span cultural boundaries.

Customer relationship management


DESCRIPTION
Emphasis within a rm on developing, enhancing, and maintaining effective customer relationships.
Customer satisfaction
DESCRIPTION
The extent to which a customers perceived performance of an organizations offering matches the
customers expectations.
Database marketing
DESCRIPTION
A particular form of direct marketing where databases of customers and their proles are used to
generate tailored or personalized offerings as a central part of a rms marketing efforts.
Defensive marketing
(also called status quo marketing)
DESCRIPTION
Marketing strategies aimed at protecting a companys status quo situation from change by competitors
or other market forces.
Differentiated marketing
(also called segmented marketing or selective marketing)
DESCRIPTION
The strategic approach of focusing on two or more groups of consumers and using a different marketing
approach for each.
Diffusion of innovation
DESCRIPTION
The concept that adoption of innovations by individuals or other customers in a market is generally
spread out over time as a result of, among other factors, variation in individuals willingness and
readiness to adopt innovations.
Door-in-the-face technique
(also called the rejection-then-retreat technique)
DESCRIPTION
A technique for persuading an individual to accept or adopt a particular course of action where the
individual is rst presented with a request to accept a much larger course of action which the individual
is almost certain to reject.
Double jeopardy effect
DESCRIPTION
The phenomenon where big-share brands benet in two ways when compared to small-share brands,
namely,(1) having more buyers than small-share brands and (2) being bought slightly more frequently
than small-share brands, where both effects occur within the same timeframe
E-marketing
(also known as digital marketing electronic marketing, or interactive marketing)
DESCRIPTION
Marketing that makes use of any interactive electronic communications technology or media in order to
accomplish marketing objectives.
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Ethical marketing
(also called responsible marketing or sociomarketing)
DESCRIPTION
Marketing concerned with conformance to morally acceptable standards of conduct.
Field marketing
DESCRIPTION
A marketing approach involving the deployment of marketing, sales, or other staff by a rm to engage in
person-to-person interaction in the eld, such as at locations visited by customers.
Frequency marketing
DESCRIPTION
Marketing which involves rewarding customers for the volume or frequency of their purchases in order
to enhance customer protability.
Glocal marketing
DESCRIPTION
Marketing on a global scale that emphasizes customization at the level of local culture.
Goodharts law
DESCRIPTION
The general principle that, once an economic or social indicator is made a target as part of an economic
or social policy, the target becomes distorted by the very act of targeting it.
Green marketing
(also called eco-marketing, eco-centric marketing, environmental marketing, environmentally
responsible marketing, or responsible marketing)
DESCRIPTION
Marketing strategies and activities that emphasize sensitivity to environmental impact.
Guerrilla marketing
(also referred to by the alternate spelling of guerilla marketing and sometimes incorrectly referred to as
gorilla marketing)
DESCRIPTION
Guerrilla marketing involves the use of unconventional, creative marketing strategies and activities to
accomplish a rms objectives and where such approaches typically require lower marketing
expenditures in comparison to more traditional means.
Hierarchy of needs theory
(also called Maslows theory of motivation, need hierarchy theory, Maslows need hierarchy, or
Maslows theory of self-actualization)
DESCRIPTION
The view that human needs are categorical and hierarchical, where it is not until certain categories of
lower-level needs are met or reasonably well satised that other higher-level categories of needs can be
attended to.
Icarus paradox
DESCRIPTION
The situation where an organizations great success precedes its severe decline.
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Iceberg principle
DESCRIPTION
A general view that only a small part of an issue will often be visible initially. More specically, the
view that in aggregate or summary data, there can be hidden much good or important information.
Institutional marketing
DESCRIPTION
Organizational marketing efforts aimed at inuencing broad audiences within a common industry,
function, or issue orientation, with particular emphasis on the marketing efforts of large public
organizations.
Integrated marketing communications
DESCRIPTION
Marketing emphasizing the full integration or merging of multiple, different marketing communication
approaches with the aim of achieving synergistic effects and superior results relative to approaches
where multiple marketing communication activities are pursued but not coordinated.
Internal marketing
DESCRIPTION
Marketing efforts within a rm that are directed at its internal stakeholders.
Lateral marketing
DESCRIPTION
A marketing approach involving exploration and creativity in the restructuring of a good by adding
needs, uses, situations, or targets that would otherwise be unreachable without the appropriate changes.
Lifestyle marketing
DESCRIPTION
Marketing based on knowledge of individuals actual or desired patterns of living, in areas including
their activities and interests.
Local marketing
DESCRIPTION
Marketing tailored to the wants and needs of local markets such as cities, neighborhoods, or stores.
Macro marketing
DESCRIPTION
Marketing focused on issues relating to the broader environmental inuences on societies & economies.
Magical number seven
DESCRIPTION
A term capturing the notion that individuals are limited in their capacity for processing information,
where the limitation consists of spans involving of about seven distinct categories or items of
information.
Marketing
DESCRIPTION
An organizational function and a set of processes for creating, communicating, and delivering value to
customers and for managing customer relationships in ways that benet the organization and its
stakeholders.
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Marketing, laws of
DESCRIPTION
Broad generalizations concerning the nature or practice of effective marketing.
Marketing, principles of
DESCRIPTION
Basic marketing generalizations that are frequently accepted as true and which can be used as a basis for
reasoning and/or marketing conduct.
Marketing, rules of
DESCRIPTION
Authoritative statements concerning the conduct of effective marketing.
Marketing, theories of
DESCRIPTION
Theory or theories aimed at understanding, explaining, and/or predicting the nature of marketing and/or
its conduct
Marketing approaches
DESCRIPTION
Marketing characterized by emphases on different purposes, methodologies, strategies, tactics, or
techniques which may further involve an emphasis on a particular type or form of offering characteristic,
organizational arrangement, information technology, communication approach, Communication
technique, marketing channel, market emphasis, or market relationship.
Marketing management orientation
DESCRIPTION
An organizations conceptualization of the way that marketing should be managed to achieve its
organizational goals.
Marketing mix
(also called the Four Ps or the Seven Ps)
DESCRIPTION
The set of controllable marketing elements that marketers are able to blend either tactically or in support
of broader marketing strategies.
Marketing myopia
DESCRIPTION
Short-sightedness in marketing planning and strategy development and, more specically, a failure to
dene adequately the scope of the rms business.
Marketing research
DESCRIPTION
The process of systematically gathering and analyzing data in support of more effective marketing
decision making.

Marketing strategy
DESCRIPTION
The set of marketing decisions made by a rm determining its choice of product markets in which to
invest and compete and how the rm decides to compete in terms of its customer value proposition,
assets and competencies, and functional area strategies and programs.
Mass marketing
DESCRIPTION
A marketing approach involving an offering intended for wide appeal among a large market of
consumers.
Mega marketing
DESCRIPTION
The strategically coordinated application of economic, psychological, political, and public relations
skills to gain the cooperation of a number of parties in order to enter and/or operate in a given market.
Mobile marketing
(also called mobile phone marketing, m-marketing, wireless marketing, or cell phone marketing)
DESCRIPTION
Marketing aimed at consumers who move readily from place to place or, similarly, any form of
marketing by the rm that moves readily to different consumer locations.
Network marketing
(also called matrix marketing or multi-level marketing)
DESCRIPTION
Marketing involving the use of an interconnected system of distributors as the primary means to
accomplish an organizations marketing objectives.
New product
DESCRIPTION
A good, either a product or service or product and service combination, that is perceived as new by some
potential customers in the marketplace.
New product development
DESCRIPTION
The set of actions of an organization aimed at developing a new product intended for introduction into
the market.
Niche marketing
(also called concentrated marketing)
DESCRIPTION
The approach of making a particular small group or segment of buyers the focus of a rms marketing
efforts.
Non-prot marketing
(also referred to as nonprot marketing; also called non-prot sector marketing, non-prot marketing,
not-for-prot marketing, mission-based marketing, third sector marketing, or voluntary sector
marketing)

DESCRIPTION
Marketing with an emphasis on achieving organizational objectives that are not commercially
motivated, where income generated is for its operations and stated purpose rather than for the private
gain of any individual having an interest in the organization.
Offensive marketing
DESCRIPTION
Marketing focused on attacking, directly or indirectly, the strategic positions of any number of a rms
competitors.
Permission marketing
DESCRIPTION
Marketing where there is an emphasis on securing customers consent or approval prior to engaging in
further marketing activity with, or involving, the customer and/or customer information.
Point-of-purchase marketing
DESCRIPTION
Marketing where there is an emphasis on strategies and tactics involving the precise locations of
purchase activity.
Point-of-sale marketing
DESCRIPTION
Marketing where there is an emphasis on strategies and tactics involving the precise locations of selling
activity for the rms offerings.
Product marketing
DESCRIPTION
Marketing efforts involving tangible, physical offerings.
Prospect theory
DESCRIPTION
A theory relating individual risk-aversion and risk-seeking tendencies to gain and loss situations, where
it is theorized and experimentally demonstrated that individuals are signicantly more risk averse when
facing gain sand signicantly more risk seeking when facing losses.
Psychoanalytic theory
DESCRIPTION
A view of individual drives and motivations that emphasizes the role of the unconscious or beyond
awareness, and heavily inuenced by emotion.
Pull marketing
DESCRIPTION
A strategic approach where a rm emphasizes marketing activities aimed at building up consumer
demand, thereby prompting consumers to demand the offerings from intermediaries (e.g. retailers who,
in turn, demand the offerings from wholesalers) who, in turn, demand the offerings from the rm.
Push marketing
DESCRIPTION
A strategic approach where the rms marketing is directed at intermediaries who, in turn, promote the
rms offering to consumers.
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Red queen effect


(also called the red queen hypothesis, the red queen theory, the red queen principle, the red queen
metaphor, the red queen trap, the red queen syndrome, the red queen game, the red queens race, red
queen evolution, or simply the red queen)
DESCRIPTION
The effect of certain dynamics associated with a highly competitive environment on an organizational
entity or strategic approach where, increasingly, there is a need to expend high levels of exhausting
effort or resources in order for the organization or strategy to remain viable.
Relationship marketing
(also called customer relationship marketing)
DESCRIPTION
Marketing characterized by an emphasis on building long-term customer relationships with selected
customers.
Retail marketing
DESCRIPTION
Marketing involving the direct sale of offerings to customers, with such offerings not intended for
resale.
Retro-marketing
DESCRIPTION
Marketing approaches involving re-representations of the past in one or more areas of marketing
activity.
Segment-of-one marketing
DESCRIPTION
A marketing approach involving segmentation which starts with an individual customer and builds on
that prole.
Segmentation
(also called market segmentation)
DESCRIPTION
Dividing a market into distinct groups of buyers who have relatively distinct behaviors, needs, or other
characteristics.
Segmentation viability
DESCRIPTION
The extent to which a particular form of segmentation is useful or workable from multiple perspectives
including having characteristics of sufcient accessibility, substantiality, measurability, and
actionability.
Selective exposure
DESCRIPTION
The tendency for individuals to expose themselves to information that reinforces their current beliefs or
attitudes.
Social marketing
(also called idea marketing, responsible marketing, social idea marketing, social cause marketing, or
socially responsible marketing)
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DESCRIPTION
Marketing concerned with inuence on the voluntary behavior of individuals and the promotion of
personal and societal welfare.
STP marketing
DESCRIPTION
A methodical approach in marketing planning whereby a marketer follows a three-step process
involving segmentation, targeting, and positioning.
Strategic marketing
DESCRIPTION
Marketing with an emphasis on achieving important long-term marketing aims and objectives that
further provide a basis for competitive advantage
Tactical marketing
DESCRIPTION
An approach that moves marketing from the strategic to the operational level, designing and
implementing plans for the short term.
Target marketing
DESCRIPTION
A marketing approach involving evaluations of different market segments attractiveness and selecting
one or more segments to enter.
Telemarketing
(also called telephone marketing)
DESCRIPTION
A direct marketing approach that involves using the telephone as a medium to market products or
services to consumers.
Value-based marketing
(also called customer value marketing)
DESCRIPTION
A marketing approach that involves the pursuit of marketing strategies and tactics that provide a high
degree of meaningful value and satisfaction to customers as well as achieving improved business
leverage.
Viral marketing
(also called electronic word-of-mouth marketing, or word-of-mouse marketing)
DESCRIPTION
An approach involving the dissemination of marketing messages or brand information via online
channels that develop through social networks.
Wholesale marketing
DESCRIPTION
Marketing involving the sale of offerings intended for resale and where customers may be retailers or
other marketing intermediaries.

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Word-of-mouth communication
DESCRIPTION
Communication by and among consumers about particular product or service offerings, promotions,
rms, or markets that is generally informal and frequently person to person.
Word-of-mouth effect
DESCRIPTION
Any effect resulting from word-of-mouth communication among consumers.
Word-of-mouth marketing
(also called buzz marketing, grassroots marketing, peer-to-peer marketing, person-to-person marketing,
evangelism marketing, or referral marketing)
DESCRIPTION
An approach aimed at leveraging the use of personal recommendations and referrals in the marketplace
as a major basis for the rms marketing efforts and where a desirable effect is a marketplace buzz, or
intense and interactive word-of-mouth communication in the marketplace.

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