Glossary
Chapter 23: Implementing Strategies, Internal Marketing Relationships and Measuring PerformanceJump 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
- Benchmarking
- The process of comparing the quality of an organisation's goods, services or processes with that of its best performing competitors. p. 734
- Brand awareness
- A qualitative measure of marketing performance that determines whether a company's brands capture the attention of their target markets. p. 748
- Category management
- A variation of organising by products whereby marketers are responsible for categories of product lines or categories of distributors. p. 725
- Centralised organisation
- A company in which top level managers delegate very little authority to the lower levels of the organisation. p. 722
- Clippings service
- A service that counts the frequency of mentions of a specific brand or company in selected media. p. 748
- Customer satisfaction
- A qualitative measure of marketing performance that involves surveying customers over time. p. 748
- Decentralised organisation
- A company in which decision-making authority is delegated as far down the chain of command as possible. p. 722
- Direct cost approach
- An approach that includes only direct costs and traceable common costs. p. 746
- Direct costs
- Costs directly attributable to the performance of marketing functions. p. 745
- Empowerment
- Giving front line employees the authority and responsibility to make marketing decisions without seeking the approval of their supervisors. p. 723
- Full cost approach
- An approach in which cost analysis includes direct costs, traceable common costs and non-traceable common costs. p. 745
- Intended strategy
- The strategy on which the company decides during the planning phase. p. 727
- Internal marketing
- The application of marketing internally within the company, with programmes of communication and guidance targeted at internal audiences to develop responsiveness and a unified sense of purpose among employees. p. 731
- Marketing control process
- One that establishes performance standards, evaluates actual performance and reduces the differences between desired and actual performance. p. 737
- Marketing cost analysis
- The break down and classification of costs to determine which are associated with specific marketing activities. p. 744
- Marketing function accounts
- A method of indicating the function performed through the expenditure of funds. p. 744
- Marketing implementation
- A process that involves activities to put marketing strategies into action. p. 726
- Marketing oriented organisation
- A company that concentrates on discovering what buyers want and providing it in a way that lets the company achieve its objectives. p. 720
- Marketing performance
- The assessment of the effectiveness of marketing programmes to implement recommended marketing strategies, fulfil corporate financial expectations and achieve the required levels of customer satisfaction. p. 747
- Natural accounts
- The classification of costs based on how money was actually spent. p. 744
- Non-traceable common costs
- Costs that cannot be assigned according to any logical criteria. p. 745
- Organising by functions
- A way of structuring a marketing department in which personnel directing marketing research, product development, distribution, sales, advertising and customer relations report to the top level marketing executive. p. 724
- Organising by products
- A way of structuring a marketing department so that the company has the flexibility to develop special marketing mixes for different products. p. 724
- Organising by regions
- A way of structuring a marketing department, used by large national or international companies, that requires managers of marketing functions for each region to report to their regional marketing manager. p. 725
- Organising by type of customer
- A way of structuring a marketing de-partment suitable for a business that has several groups of customers with very different needs and problems. p. 725
- Performance standard
- An expected level of performance against which actual performance can be compared. p. 739
- Realised strategy
- The strategy that actually takes place. p. 727
- Relationship marketing
- Places emphasis on the interaction between buyers and sellers and is concerned with winning and keeping customers by maintaining links between marketing, quality and customer service. p. 730
- Sales analysis
- The use of sales figures to evaluate a business's current performance. p. 741
- Sales measurements
- Data regarding sales transactions that are used to analyse performance, usually in terms of cash volume or market share. p. 742
- Sales per square metre
- A financial measure retailers might use to assess marketing performance. p. 747
- The five markets model of relationship marketing
- In addition to customer markets, the core audiences of influencers, referrals, employee recruitment markets, suppliers and internal markets. p. 730
- Total quality management (TQM)
- Co-ordinated efforts directed at improving all aspects of a business-from product and service quality to customer and employee satisfaction. p. 734
- Traceable common costs
- Costs that can be allocated indirectly, using one or several criteria, to the functions they support. p. 745