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CIM - Marketing glossary Category: Management > Marketing Date & country: 18/09/2007, UK Words: 273

Franchising
The selling of a licence by the owner (franchisor) to a third party (franchisee) permitting the sale of a product or service for a specified period. In business format franchising the agreement will involve a common brand and marketing format.

Geodemographics
A method of analysis combining geographic and demographic variables For an example, see 'ACORN'

GLAM
Greying, Leisured, Affluent, Middle-aged - a demographic grouping.

Grey Market
Sometimes called 'silver market'. Term used to define population over a certain age - usually 65

Guarantees and Warranties
Legal documents committing a company to deal with faulty goods or services by a variety of methods including repair, replacement or compensation.

Guerrilla Marketing
The strategy of targeting small and specialised customer groups in such a way that bigger companies will not find it worthwhile to retaliate.

GUPPIE
Green YUPPIE - a demographic grouping. See also 'YUPPIE'

House to House Distribution
Delivery of goods or literature to the consumer's front door or mailbox.

In-Company Training
Training programmes specially tailored to meet company requirements for groups of 6 or more people from the same company

Inducements
Incentives offered to overcome resistance to purchase, for example 'special offers' or money-back guarantees.

Industrial marketing
The marketing of industrial products.

Infiltration marketing
Marketers joining chat rooms posing as ordinary users in order to spread marketing messages, usually as personal endorsements.

Infomercial
Paid-for television programme purporting to be a genuine station programme. Its use is restricted to certain countries including the USA, but not the UK. Similar in practice to an advertorial.

Innovation
Development of new products, services or ways of working

Institutional Market
A market for goods or services consisting of universities, schools, charities clubs and the like.

Internal Analysis
The study of a company's internal marketing resources in order to assess opportunities, strengths or weaknesses

Internal Customers
Employees within an organisation viewed as consumers of a product or service provided by another part of the organisation - products or services which the employees need to do their own work. For example, the marketing department could be internal customers of the IT department.

Internal Marketing
The process of eliciting support for a company and its activities among its own employees, in order to encourage them to promote its goals. This process can happen at a number of levels, from increasing awareness of individual products or marketing campaigns, to explaining overall business strategy.

International Marketing
The conduct and co-ordination of marketing activities in more than one country

IPS
Institute of Professional Sales, sister institute to The Chartered Institute of Marketing. IPS provide in-depth training and development at every stage of the sales career

IPTV
Internet Protocol Television. Technology allowing television and video signals to be received via an internet connection.

Joint Venture
A business entity or partnership formed by two or more parties for a specific purpose; for example, Virgin Mobile is a 50:50 joint venture company between Virgin Group and Deutsche Telekom's One 2 One.

JUPPIE
Japanese YUPPIE - a demographic grouping. See also 'YUPPIE'

Kelly Grids
See 'repertory grids'

Key Account Management
Account management as applied to a company's most important customers. See also 'account management'

Keyword buying
Advertisers paying for links to their websites to appear on internet search engines along side search results, sometimes as �sponsored links�, based on keywords entered into the search engine. See ‘Search Marketing`.

Kidults
Adults who buy products that are predominantly aimed at children

Knowledge Management
The collection, organisation and distribution of information in a form that lends itself to practical application. Knowledge management often relies on information technology to facilitate the storage and retrieval of information.

Learning Log
An assignment that charts a personal development plan and achievements of a delegate during a period of study

Logo
A graphic, usually consisting of a symbol and/or group of letters, that identifies a company or brand.

Macro Environment
The external factors which affect a company's planning and performance, and are beyond its control: for example, socio-economic, legal and technological change. Compare 'micro environment'

Mailing Preference Service (MPS)
A database of individual home addresses where the occupiers have elected not to receive unsolicited direct (marketing) mail.

Market Challenger
A firm attempting to gain market leadership through marketing efforts - see also 'market follower' and 'market leader'

Market Development
The process of growing sales by offering existing products (or new versions of them) to new customer groups (as opposed to simply attempting to increase the company's share of current markets).

Market Entry
The launch of a new product into a new or existing market. A different strategy is required depending on whether the product is an early or late entrant to the market; the first entrant usually has an automatic advantage, while later entrants need to demonstrate that their products are better, cheaper and so on.

Market Follower
A firm that is happy to follow the leaders in a market place without challenging them, perhaps taking advantages of opportunities created by leaders without the need for much marketing investment of its own - see also 'market challenger' and 'market leader'

Market Leader
Seller of the product or service with the largest market share in its field - see also 'market challenger' and 'market follower'

Market Penetration
The attempt to grow one's business by obtaining a larger market share in an existing market - see 'market share' and 'market development'

Market Segmentation
The division of the market place into distinct subgroups or segments, each characterised by particular tastes and requiring a specific marketing mix. See also 'marketing mix'

Market Share
A company's sales of a given product or set of products to a given set of customers, expressed as a percentage of total sales of all such products to such customers.

Marketing
Marketing is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.

Marketing Acronyms
Usually, abbreviations such as YUPPIE, BUPPIE, and GLAM. See individual acronyms for a description.

Marketing Audit
Scrutiny of an organisation's existing marketing system to ascertain its strengths and weaknesses.

Marketing Communications
All methods used by a firm to communicate with its customers and prospective customers.

Marketing Information
Any information used or required to support marketing decisions - often drawn from a computerised 'Marketing Information System'.

Marketing Metrics
Measurements that help with the quantification of marketing performance, such as market share, advertising spend, and response rates elicited by advertising and direct marketing

Marketing Mix
The combination of marketing inputs that affect customer motivation and behaviour. These inputs traditionally encompass four controllable variables 'the 4 Ps': product, price, promotion and place. The list has subsequently been extended to 7 Ps, the additions being people, process and 'physical evidence'.

Marketing Myopia
Lack of vision on the part of companies, particularly in failing to spot customers' desires through excessive product focus. Term derives from the title of a seminal article by Theodore Levitt published in Harvard Business Review in 1960.

Marketing Orientation
A business strategy whereby customers' needs and wants, as identified by the marketing function, determine corporate direction.

Marketing Plan
A written plan, usually in-depth, describing all activities involved in achieving a particular marketing objective, and their relationship to one another in both time and importance.

Marketing Planning
The selection and scheduling of activities to support the company's chosen marketing strategy or goals. See also 'marketing strategy'.

Marketing Research
See 'market research'

Marketing Strategy
The set of objectives which an organisation allocates to its marketing function in order to support the overall corporate strategy, together with the broad methods chosen to achieve these objectives.

Measurement
See 'marketing metrics'

Media Neutral Planning
A customer focussed review of media options during communications planning based on research, analysis and insight, not habit and preference

Merger-Acquisition
Merger: the formation of one company from two existing companies. Acquisition: one company acquiring control of another by purchase of a majority shareholding.

Micro Environment
The immediate context of a company's operations, including such elements as suppliers, customers and competitors - compare 'macro environment'

Mission Statement
A company's summary of its business philosophy and direction

MMS
Multimedia Message Service. Text, audio, graphic and video messages sent by mobile phones, or other compatible devices, over a wireless network.

Models (or Marketing Models)
Graphical representations of a process designed to aid in understanding and/or forecasting. Computerised models allow the simulation of scenarios based on different assumptions about changes to the macro environment and micro environment. See also 'macro environment' and 'micro environment'

Modular Training
A training programme that is studied over a period of time, delivered in modules that are linked together

Mood Board
A visual illustration tool used either to represent the atmosphere or feel of an intended advertisement, or to research a consumer`s experience of a brand or product.

Neuromarketing
Technique to quantify how consumers will respond to brands and advertising. The brain is mapped, using functional Magnetic Resonance Imaging (fMRI), to record conscious and subconscious responses to advertising, products or brands.

New Product Development (NPD)
The creation of new products, from evaluation of proposals through to launch.

Niche Marketing
The marketing of a product to a small and well-defined segment of the market place.

NILKIE
No Income, Lots of Kids - a demographic grouping.

Objectives
A company's defined and measurable aims for a given period.

Offensive Marketing
A competitive marketing strategy, the purpose of which is to win market share away from other players in the market.

OINK
One income, no kids - a demographic grouping.

Online Learning
Course material accessed via the internet or a company intranet

OPAL
Older People with Active Lifestyles - a demographic grouping.

Organic Growth-Development
A company's expansion by the growth of its activities and ploughing back of profits, rather than by mergers/acquisitions. See 'mergers/acquisitions'

Packaging
Material used to protect goods; also an opportunity to present the brand and logo.

PANSES
Politically Active and Not Seeking Employment - a demographic grouping

Parallel Importing
See 'grey marketing'

Payment By Results (PBR)
Remuneration of an employee or service provider according to productivity or other measure of performance

Peer to Peer (P2P) Marketing
Technique of encouraging customers to promote your product to one another, particularly on the Internet. An example might be a web site that offers users a discount on products in return for recruiting new customers for the site. See also 'word of mouth'; 'viral marketing'.

PEEST
Political, Economic, Environmental, Socio-cultural and Technological - a framework for viewing the macro environment. See 'macro-environment'

Personal Data
Data related to a living individual who can be identified from the information; includes any expression of opinion about the individual.

Personal Selling
One-to-one communication between seller and prospective purchaser

PEST
Political, Economic, Socio-cultural and Technological - a framework for viewing the macro environment. See also 'macro-environment'

Pester Power
The influence children have over purchases by adults: an influence which, controversially, advertisers may seek to stimulate

PESTLE
Political, Economic, Socio-cultural, Technological, Legal and Environmental - a framework for viewing the macro environment. See 'macro-environment'

Physical Evidence
The elements of 'marketing mix' which customers can actually see or experience when they use a service, and which contribute to the perceived quality of the service, e.g. the physical evidence of a retail bank could include the state of the branch premises, as well as the delivery of the banking service itself.

PIMS
Profit Impact of Marketing Strategies: a US database supplying data such as environment, strategy, competition and internal data with respect to 3000 business. This data can be used for benchmarking purposes.

Podcast-Podcasting
Term used to define the broadcasting of multimedia files to iPods or other similar devices. Subscribers are able to view or listen to podcasts online.

Pop-under
Automatically launched internet advertisement that appears in a small window behind another webpage. See ‘Pop-up'.

Pop-up
Automatically launched internet advertisement that appears in a small window in front of another webpage. See ‘Pop-under'.

Porter's Five Forces
An analytic model developed by Michael E. Porter. The five forces in terms of which the model analyses businesses and industries are: Buyers, Suppliers, Substitutes, New Entrants and Rivals

Portfolio (and Portfolio Analysis)
The set of products or services which a company decides to develop and market. Portfolio analysis is the process of comparing the contents of the portfolio to see which products or services are the most promising and deserving of further investment, and which should be discontinued.

Positioning
The creation of an image for a product or service in the minds of customers, both specifically to that item and in relation to competitive offerings.

Product Life Cycle
A model describing the progress of a product from the inception of the idea, via the main period of sales, to its eventual decline.

Product Placement
The use of a product or service within a television or radio programme, or a film: an example would be the appearance of a leading coffee brand on a table in 'Eastenders'. There are strict guidelines as to the payments that can be given for such appearances.

Professional Marketing Standards
CIM's grid of marketing competencies required to achieve business aims. CIM's new syllabus structure is mapped out against each marketing level as identified in the grid.

Professional Services
The services of individuals or companies that are accredited by professional bodies, such as accountants, lawyers and chartered marketers. See also 'Chartered Marketers'

Promotional Mix
The components of an individual promotional campaign, which are likely to include advertising, personal selling, public relations, direct marketing, packaging, and sales promotion.

Promotional Plan
Detailed plan describing promotional objectives and activities involved in achieving the role of promotions as laid down in the marketing plan.

Public Relations
The function or activity that aims to establish and protect the reputation of a company or brand, and to create mutual understanding between the organisation and the segments of the public with whom it needs to communicate.

Pull Promotion
Pull promotion, in contrast to Push promotion, addresses the customer directly with a view to getting them to demand the product, and hence 'pull' it down through the distribution chain. It focuses on advertising and above the line activities. See also 'push promotion'

Push Promotion
Push promotion relies on the next link in the distribution chain - e.g. a wholesaler or retailer - to 'push' out products to the customer. It revolves around sales promotions - such as price reductions and point of sale displays - and other below the line activities. See also 'Sales Promotion'