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E-COMMERCE
/ INTERNET GLOSSARY OF TERMS
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password
A secret word or phrase used to identify oneself whom is permitted
to enter a place or have access to gain information.
perception
The impression most commonly held by your target market about your
product, service or company. Perceptions may not necessarily reflect
reality.
preferred position
A requested advertising location in a periodical or magazine, such
as the front page or the back cover.
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price-skimming
Price-skimming is an approach to pricing that "skims the top"
of new products to offer unique advantages to the customer. A customer
will pay outrageous prices for a HDTV for the advantages it will
offer and prestige. As HDTV progresses through its life cycle the
price will change to successfully reach larger market segments.
This strategy works because the market is willing to buy the product
at an above-average price. Mazda used this strategy with their Miata,
placing the little convertible on showroom floors increasing the
demand while slowing down supply at the same time increasing the
price. Intel did the same with their Pentium computer chips at $900
for purchase in large lots by computer manufactures.
product differentiation
A marketing plan designed to distinguish one firm's product from
the product of the competitors.
profit impact of market strategy (PIMS)
Method for analyzing strategic alternatives that involves consulting
a database summarizing the financial and market performance of 3,000
strategic business units of more than 450 firms. This database is
provided by The Strategic Planning Institute, www.thespinet.org
(site still under construction).
promotion
That part of the marketing mix which relates to creating awareness,
effecting perception and consummating the sale of your product or
service; includes both personal and non-personal.
promo(tional announcement)
A non-revenue-producing announcement promoting an event by/for the
business concern. EXAMPLE: A LOCAL TV STATION PROMOTING A SPECIAL
ONE-HOUR PROGRAM ENTITLED, "CLINTON vs LARRY FLINT: WHO IS
SLEAZIER?"
pulling power
The ability of an ad to fulfill or create its desired purpose.
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