Aa | Bb | Cc | Dd | Ee | Ff | Gg | Hh | Ii | Jj | Kk | Ll | Mm | Nn | Oo | Pp | Qq | Rr | Ss | Tt | Uu | Vv | Ww | Xx | Yy | Zz

Iceberg Principle

a theory that suggests that aggregated data can hide information that is important for the proper evaluation of a situation.

Idea Generation

the first stage in the new product development process - the sourcing of ideas for new products; important sources include the firm's own R & D work, focus groups, competitor's products and suggestions from customers, distributors and salespeople. See New Product Development.

Idea Marketing

activities associated with the marketing of a cause or idea. See Broadening Concept.

Idea Screening

see Screening.

Ideal Brand Model

a model used to study consumer evaluation of alternative products; the consumer compares actual brands comparing them to a hypothetical ideal brand. Among other models used for the purpose are the expectancy-value model, conjunctive model, disjunctive model, lexicographic model, and determinance model.

Identifiability

see Measurability.

Image

Image Analysis

see Favorability Analysis.

Image Differentiation

as a source of competitive advantage, a company may differentiate itself from its competitors by image; the particular image or "personality" it acquires is created by its logo and other symbols, its advertising, its atmosphere, its events and personalities. Other sources of differentiation for competitive advantage include product differentiation, services differentiation, and personnel differentiation.

Image Oriented Change Strategy

an advertising plan or tactic intended to change a brand's image (rather than to maintain it over time) and which relies on imagery and symbolism (rather than the provision of information) to achieve its objective. See Image-Oriented Maintenance Strategy; Information-Oriented Change Strategy; Information-Oriented Maintenance Strategy.

Image Oriented Maintenance Strategy

an advertising plan or tactic intended to maintain a brand's position over time (rather than to change its position) and which relies on imagery and symbolism (rather than the provision of information) to achieve its objective. See Image-Oriented Change Strategy; Information-Oriented Change Strategy; Information-Oriented Maintenance Strategy.

Image Persistence

the idea that images may persist long after an organisation has changed; for example, one government instrumentality's services might be highly regarded in the public mind even though its programs have deteriorated, while another's might still be poorly regarded long after they have been improved.

Image Pricing

see Psychological Pricing; Prestige Pricing.

Image Utility

the value given to a product by virtue of the fact that it brings satisfaction to the user in creating prestige and esteem. See Utility.

Imagery

the symbols, images or graphic representations used in advertising to suggest a particular mood or feeling.

Impact

the force that an advertisement or message will have on a target consumer; television advertising, for example, because it combines sight and sound, will typically have greater impact than print media.

Implementation

the stage in the marketing management process when plans are put into action. See Marketing Management.

Implied Warranty

the notion, upheld by courts in recent years in response to mounting consumer complaints, that a product is covered by warranty even if not expressly stated, and that manufacturers are liable for injury caused by a product even if there has been no negligence in manufacturing; hence, caveat vendor or "let the seller beware". See Warranty; Express Warranty; Promotional Warranty; Protective Warranty.

Import Quota

a government-imposed limit on the number, quantity or value of a product to be imported, usually to protect local industry.

Impression Management

Improved Services Strategy

Impulse Buying

unplanned consumer buying of attractively presented or conveniently located products.

Impulse Goods

goods which are purchased quickly because of a sudden urge to have them. See Convenience Goods.

In-Home Shopping

see Home Shopping.

In-Magazine Recognition Tests

to test the effectiveness of advertising, individuals selected from the target market are asked to look through a magazine and then to recall advertisements they have seen. See Recognition Tests.

In-Pack Premium

a type of sales promotion in which a small gift is included inside the package of a product to encourage consumers to buy it. See Premiums; Near-Pack Premium; On-Pack Premium; With-Pack Premium.

In-Store Media

in-house media, usually radio or TV networks, inside department or variety stores to encourage foot traffic and generate more sales; music and news, as well as commercials and promotion, are carried by the media.

In-Suppliers

suppliers who are already well known to an organisation and from whom they will purchase with confidence. See Out-Suppliers.

Inbound Telemarketing

telemarketing in which a company receives telephone orders and enquiries from customers; often, toll free telephone lines are used. See Outbound Telemarketing.

Incentive Marketing

the offering of gifts, rewards, premiums, etc to motivate the sales team, to get bigger or more frequent orders from dealers, or to induce customers to buy.

Incentives

(i)in learning theory, an object, person or situation that an individual believes will satisfy a motive; (ii) in selling, any bonus, reward, contest, recognition program, etc. intended to motivate members of a sales team to greater efforts. See Learning Process; Motive.

Incremental Approach (to Calculating Salesforce Size)

an approach used in determining the ideal size of a sales force based on the difference between the expected gross profit that will be earned by the addition of an extra salesperson and the cost of hiring, training and maintaining that salesperson.

Incremental-Cost Pricing

an approach in which the price of all additional units produced after the fixed costs of production have been met are based on variable cost rather than on total cost.

Indirect Competitive Advertising

advertising intended to stimulate purchase of a particular brand at some future time. See Direct Competitive Advertising.

Indirect Competition

a product that is in a different category altogether but which is seen as an alternative purchase choice; for example, coffee and mineral water are indirect competitors. See Direct Competition.

Indirect Costs

costs that cannot be traced directly to a particular product; commonly called Overheads. See Direct Costs.

Indirect Denial Method

handling a buyer's objection by initially admitting the validity of the objection in order to maintain rapport but then offering evidence to rebut the objection; sometimes referred to as the "Yes, but... Method." See Objections.

Individual Brand

a brand name used for a single product within a product line. See Corporate Branding; Family Brand.

Individual Brand Name

the part of the brand name which identifies a particular product when it follows a family brand name; for example, in the brand name "Holden Commodore", Holden is the family brand name, while Commodore is the individual brand name. See Corporate Branding; Family Brand; Product Line Brand Name; Single Brand Name.

Individual Product

see Product Item.

Industrial Buyer Behaviour

the study of the motives and actions of, and the influences upon, industrial buyers while engaged in the purchasing of goods and services. See Organisational Buying Behaviour.

Industrial Buyers

individuals who purchase goods and services on behalf of the organisations by which they are employed; purchasing officers. See Organisational Buyer.

Industrial Distributor

a marketing intermediary, roughly equivalent to a wholesaler in consumer markets, who purchases industrial products in bulk from manufacturers for resale to small industrial users.

Industrial Goods

goods and services purchased by industrial buyers for use in the production of their own goods and services or in the conduct of their business; industrial goods can be broadly classified as equipment, raw materials and services. See Industrial Product Classes.

Industrial Marketing

the marketing of goods and services to business organisations for use in the manufacture of their products or in the operation of their businesses; also called Business-to-Business Marketing.

Industrial Packaging

the protective wrapping and boxing of finished industrial goods for shipment.

Industrial Product Classes

categories of goods and services bought by organisations for use in production or in the operation of their business; classes include installation, accessories, raw materials, component parts, supplies, and services.

Industrial Selling

all forms of personal selling to organisational and industrial buyers of products for resale, or for use in manufacture, or for use in the operation of their businesses.

Incentive

an inducement to buy; incentives include special price deals, premiums, contests, etc.

Inelasticity of Demand

demand which is not greatly affected by a change in the price of the product. See Elasticity of Demand.

Inept Set

brands that a buyer is aware of when considering a purchase, thinks poorly of , but uses in some way as a sourch of information. See Inert Set; Evoked Set.

Inert Set

brands that a buyer is aware of when considering a purchase but has no interest in. See Evoked Set; Inept Set.

Inertia Buying

consumer buying, of unimportant items, which is done frequently and in which the buyer chooses the same brand over and over again without consideration of other brands.

Inertia Selling

a selling practice in which unsolicited goods and services are sent to consumers in expectation that many will prefer to purchase rather than to return them; the practice is considered undesirable and legislation protecting consumers has been enacted.

Inflation

an economic situation in which rising prices result in a fall in the purchasing value of money.

Infomercial

a word coined to describe a particular type of commercial, for print, TV, radio, etc., in which a company promotes its own product while offering valuable information and advice on an important public issue. For example, Volvo may seek to increase awareness of its product and its safety positioning by producing an infomercial on road safety.

Informal Marketing Organisation

the part of a marketing organisation made up of the many working relationships that develop over time, outside the formal lines of authority, among departmental managers.

Information Flow

the information about products, potential customers, consumer needs and wants, etc. that is passed forwards and backwards along a channel of distribution. See Marketing Channels.

Information Oriented Change Strategy

an advertising plan or tactic intended to change a brand's image (rather than to maintain it over time) and which relies on the provision of information (rather than imagery and symbolism) to achieve its effect. See Image-Oriented Maintenance Strategy; Information-Oriented Change Strategy; Information-Oriented Maintenance Strategy.

Information Oriented Maintenance Strategy

an advertising plan or tactic intended to maintain a brand's image over time (rather than to change its image) and which relies on the provision of information (rather than imagery or symbolism) for its effect. See Image-Oriented Change Strategy; Image-Oriented Maintenance Strategy; Information-Oriented Change Strategy.

Information Utility

the value given to a product by virtue of the fact that it can provide the user with information that is useful. See Utility.

Informational Influence

one of three types of influence (with comparative influence and normative influence) exerted on consumers by reference groups; informational influence occurs when the group is the source of information about products and brands. See Reference Groups; Comparative Influence; Normative Influence.

Informational Label

a label which carries information including use instructions, precaustions and warnings, etc. See Label.

Informative Advertising

advertising intended to inform rather than to persuade or remind.

Informed Judgement Techniques

the use of the opinions of knowledgeable people to forecast demand and sales.

Inner-Directed Consumers

one of three broad groups of consumers (with Need-Directed Consumers and Outer-Directed consumers) identified in the Stanford Research Institute's survey of American lifestyles; inner-directed consumers, representing about twenty per cent of consumers in the U.S., buy to meet their own inner-needs rather than in response to social norms. See Value and Life Style Program (VALS); Need-Directed Consumers; Outer-Directed Consumers.

Innovation

the introduction of a product which is new to both the company and its customers; a new-to-the-world product. See Product Extension; New Product Duplication.

Innovators

the small group of alert people who are the earliest to adopt a new product. See Diffusion of Innovation; Early Adopters; Early Majority; Laggards; Late Majority.

Inseparability

one of the four characteristics (with intangibility, perishability and variability) which distinguish a service; inseparability expresses the notion that a service can not be separated from the service provider. See Services Marketing; Intangibility; Perishability; Variability.

Inside Order-Taker

a salesperson who writes up sales orders at a sales counter, or those forwarded to the company by telephone, but is not required to sell persuasively to customers. See Outside Order-Taker.

Installations

a classification of industrial goods which includes land, buildings and major equipment.

Institutional Advertising

advertising intended to promote a company or organisation rather than its products; also called Corporate Advertising.

Institutional Market

a market consisting of schools, universities, hospitals, charities, clubs and similar organisations which buy goods and services for use in the production of their own goods and services.

Intangibility

one of the four characteristics (with inseparability, perishability and variability) which distinguish a service; intangibility expresses the notion that a service has no physical substance. See Services Marketing; Inseparability; Perishability; Variability.

Intangible Product

see Actual Product.

Intangible Product Attributes

the unobservable characteristics which a physical good possesses, such as style, quality, strength, beauty, etc. See Tangible Product Attributes.

Intangibles

see Services.

Integrative Growth

a strategy for growth in which a firm acquires some other element of the chain of distribution of which it is a member. See Backward Integration; Forward Integration; Horizontal Integration.

Intensive Distribution

making a product available in as many outlets as are willing to stock it. See Distribution Intensity; Exclusive Distribution; Selective Distribution.

Intensive Growth

growth opportunities related to a company's current operations; intensive growth opportunities are market penetration, product development and market development.

Inter-type Channel Conflict

discord among members of different types at the same level of a marketing channel, eg. department store-convenience store discord. See Channel Conflict; Horizontal Channel Conflict; Vertical Channel Conflict.

Intermediate Sellers

see Marketing Intermediaries.

Intermodal Transportation

a shipping method in which two or more modes of transport are used; for example, where containerised goods are loaded from truck to ship and back to truck again in the port of destination.

Internal Data

information recorded and stored by an organisation as it completes it normal transactions and activities.

Internal Information Search

a stage in the consumer buying process for a low-involvement product; past experiences with items in this product class are considered. See Low-Involvement Products.

International Marketing

marketing actvities intended to facilitate the exchange or transfer of goods between nations.

Interviewer Bias

intentional or unintentional prompting by a marketing researcher which affects the interviewee's response.

Interview Study

a common technique for gathering primary data in marketing research. Respondents in an interview study complete a questionnaire delivered to them by telephone or mail or in a face-to-face interview.

Intraorganisational Environment

an organisation's internal environment; the forces arising from the organisation's formal structure and from interactions with employees which affect the marketing operations.

Intrapreneur

Introductory Allowance

see Slotting Allowance.

Introductory Stage of Product Life Cycle

the first stage in the life cycle of a successful product; the product wins acceptance relatively slowly, there are limited versions of it, there is no competition, distribution is patchy, promotion is designed to inform the market (rather than to persuade or remind), penetration or skimming pricing strategies are appropriate.

Invalid Objection

an excuse offered by a prospective buyer to cover some hidden objection to the product. See Hidden Objection; Valid Objection.

Inventory

finished goods stored in a warehouse.

Inventory Carrying Costs

see Holding Costs.

Inventory Management

activities involved in maintaining the appropriate level of stock in a warehouse.

Inventory Remarketing

an innovative strategy for reducing the risks of introducing a new product. Prior to the launch of the new product, a firm may negotiate with an inventory remarketing company for the sale of any unused stock of the new product in the event that it fails to sell as well as expected; thus, the inventory remarketing company will buy the balance of the stock, at the previously agreed price, and resell it, usually in a different market and through different distribution channels.

Inventory Turnover

the ratio of dollar or unit sales or gross profit to average inventory; used in inventory control where the average number of times a company sells the value of its inventory in a year is measured.

Isolation Effect

the notion that a price will appear more attractive if the product is placed in the store next to a an alternative product which is more expensive.

Aa | Bb | Cc | Dd | Ee | Ff | Gg | Hh | Ii | Jj | Kk | Ll | Mm | Nn | Oo | Pp | Qq | Rr | Ss | Tt | Uu | Vv | Ww | Xx | Yy | Zz