Glossary
Chapter 20: Modifying the Marketing Mix for Various MarketsJump to a chapter's terms: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24
- Administered pricing
- A pricing method in which the seller determines the price for a product and the customer pays the specified price. p. 629
- Bid pricing
- Determination of prices through sealed or open bids submitted by the seller to the buyer. p. 629
- Business-to-business distributor
- An independent business that takes title to products and carries inventories. p. 622
- Complexity
- In services marketing, the number of steps required to perform a service. p. 632
- Direct distribution channels
- Distribution channels in which products are sold directly from producers to users. p. 622
- Dumping
- The sale of products in non-domestic markets at lower prices than those charged in domestic markets, when all costs are not allocated or when surplus products are sold. p. 643
- Extended marketing mix for services
- Besides the traditional 4Ps of product, promotion, price and place/distribution, the additional 3Ps of people, physical evidence and process. p. 630
- Intangibility
- A characteristic of services, which lack physical attributes and cannot be perceived by the senses. p. 630
- Negotiated pricing
- Determination of prices through negotiations between the seller and the buyer. p. 629
- Parallel imports
- Goods that are imported through "non-official" channels from low price to high price countries. p. 643
- Personal selling
- The task of informing and persuading customers to purchase through personal communication. p. 624
- Relationships
- Regular, ongoing contacts between businesses and their customers. p. 630
- Service product quality
- The consumer's perception of the quality of service he or she receives. p. 631
- Service provider
- A person who offers a service, such as a bank clerk or hair stylist. p. 631
- Transfer pricing
- The price charged between profit centres, for example, between a manufacturing company and its foreign subsidiary. p. 643
- Variability
- The amount of diversity allowed in each step of service provision. p. 632