Stanley J. Shapiro
Kenneth B. Wong,
Queens School of Business
William D. Perreault,
University of North Carolina
E. Jerome McCarthy,
Michigan State University
| Benchmarking | Picking a basis of comparison for evaluating how well a job is being done.
(See Refer to page(s) 636)
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| Continuous improvement | A commitment to constantly make things better one step at a time.
(See Refer to page(s) 632)
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| Contribution-margin approach | A cost analysis approach in which all costs are not allocated in all situations.
(See Refer to page(s) 645)
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| Control | The feedback process that helps the marketing manager learn (1) how ongoing plans and implementation are working and (2) how to plan for the future.
(See Refer to page(s) 624)
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| Empowerment | Giving employees the authority to correct a problem without first checking with management.
(See Refer to page(s) 635)
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| Fishbone diagram | A visual aid that helps organize cause-and-effect relationships for [quote]things gone wrong[quote].
(See Refer to page(s) 633)
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| Full-cost approach | All costs are allocated to products, customers, or other categories.
(See Refer to page(s) 645)
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| Iceberg principle | The idea that much good information is hidden in summary data.
(See Refer to page(s) 642)
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| Marketing audit | A systematic, critical, and unbiased review and appraisal of the basic objectives and policies of the marketing function and of the organization, methods, procedures, and people employed to implement the policies.
(See Refer to page(s) 649)
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| Pareto chart | A graph that shows the number of times a problem cause occurs, with problem causes ordered from most frequent to least frequent.
(See Refer to page(s) 632)
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| Performance analysis | Analysis that looks for exceptions or variations from planned performance.
(See Refer to page(s) 639)
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| Performance index | A number that shows the relationship of one value to another.
(See Refer to page(s) 639)
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| Sales analysis | A detailed breakdown of a company's sales records.
(See Refer to page(s) 637)
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| Total quality management (TQM) | A management approach in which everyone in the organization is concerned about quality, throughout all of the firm's activities, to better serve customer needs.
(See Refer to page(s) 631)
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2002 McGraw-Hill Higher Education