(See related pages)
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| basic research centres | Centres for fundamental research located in regions where valuable scientific knowledge is being created; they develop the basic technologies that become new products. (See page(s) 479) |
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| channel length | The number of intermediaries that a product has to go through before it reaches the final consumer. (See page(s) 461) |
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| concentrated retail system | A few retailers supply most of the market. (See page(s) 460) |
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| country of origin effects | The extent to which the place of manufacturing influences product evaluations. (See page(s) 464) |
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| dumping | Selling goods in a foreign market for less than their cost of production or below their “fair” market value. (See page(s) 474) |
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| elastic | When a small change in price produces a large change in demand. (See page(s) 470) |
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| exclusive distribution channel | A distribution channel that outsiders find difficult to access. (See page(s) 461) |
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| fragmented retail system | Many retailers, with no one having a major share of the market. (See page(s) 460) |
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| inelastic | When a large change in price produces only a small change in demand. (See page(s) 470) |
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| market segmentation | Identifying groups of consumers whose purchasing behaviour differs from others in important ways. (See page(s) 455) |
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| marketing mix | Choices about product attributes, distribution strategy, communication strategy, and pricing strategy that a firm offers its targeted markets. (See page(s) 453) |
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| multipoint pricing | Occurs when a pricing strategy in one market may have am impact on a rival’s pricing strategy in another market. (See page(s) 473) |
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| noise | The amount of other messages competing for a potential consumer’s attention. (See page(s) 464) |
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| predatory pricing | Reducing prices below fair market value as a competitive weapon to drive weaker competitors out of the market (“fair” being cost plus some reasonable profit margin). (See page(s) 472) |
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| price elasticity of demand | A measure of how responsive demand for a product is to changes in price. (See page(s) 470) |
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| pull strategy | A market strategy emphasizing mass media advertising as opposed to personal selling. (See page(s) 464) |
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| push strategy | A marketing strategy emphasizing personal selling rather than mass media advertising. (See page(s) 464) |
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| source effects | When the receiver of the message evaluates the message based on the status or image of the sender. (See page(s) 464) |
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| strategic pricing | Pricing aimed at giving a company a competitive advantage over its rivals. (See page(s) 472) |